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REGISTERED NUMBER: 09974432 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

COED-Y-GLYN LOG CABINS LIMITED

COED-Y-GLYN LOG CABINS LIMITED (REGISTERED NUMBER: 09974432)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COED-Y-GLYN LOG CABINS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTOR: T I J Davies



REGISTERED OFFICE: 25 Grosvenor Road
Wrexham
LL11 1BT



REGISTERED NUMBER: 09974432 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: Barclays Bank plc
51-52 Hope Street
Wrexham
LL11 1BB

COED-Y-GLYN LOG CABINS LIMITED (REGISTERED NUMBER: 09974432)

BALANCE SHEET
31ST JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 642,127 563,296

CURRENT ASSETS
Debtors 5 12,255 12,203
Cash at bank 8,910 10,206
21,165 22,409
CREDITORS
Amounts falling due within one year 6 438,506 380,890
NET CURRENT LIABILITIES (417,341 ) (358,481 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

224,786

204,815

CREDITORS
Amounts falling due after more than one
year

7

(79,289

)

(31,513

)

PROVISIONS FOR LIABILITIES 8 (43,733 ) (38,943 )
NET ASSETS 101,764 134,359

CAPITAL AND RESERVES
Called up share capital 9 90 90
Retained earnings 101,674 134,269
SHAREHOLDERS' FUNDS 101,764 134,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

COED-Y-GLYN LOG CABINS LIMITED (REGISTERED NUMBER: 09974432)

BALANCE SHEET - continued
31ST JANUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th January 2025 and were signed by:





T I J Davies - Director


COED-Y-GLYN LOG CABINS LIMITED (REGISTERED NUMBER: 09974432)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

1. STATUTORY INFORMATION

Coed-Y-Glyn Log Cabins Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 50 years
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

COED-Y-GLYN LOG CABINS LIMITED (REGISTERED NUMBER: 09974432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1st February 2023 572,261 97,178 11,120 680,559
Additions 24,711 16,554 72,227 113,492
At 31st January 2024 596,972 113,732 83,347 794,051
DEPRECIATION
At 1st February 2023 59,434 54,354 3,475 117,263
Charge for year 11,763 14,099 8,799 34,661
At 31st January 2024 71,197 68,453 12,274 151,924
NET BOOK VALUE
At 31st January 2024 525,775 45,279 71,073 642,127
At 31st January 2023 512,827 42,824 7,645 563,296

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 72,227
At 31st January 2024 72,227
DEPRECIATION
Charge for year 6,019
At 31st January 2024 6,019
NET BOOK VALUE
At 31st January 2024 66,208

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Tax 10,982 10,982
Prepayments 1,273 1,221
12,255 12,203

COED-Y-GLYN LOG CABINS LIMITED (REGISTERED NUMBER: 09974432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 7,964 -
Trade creditors 498 -
Tax - 6,069
Social security and other taxes 415 926
VAT 4,648 1,644
Other creditors 1,650 3,450
Directors' current accounts 236,550 233,421
Deferred income 172,148 121,422
Accrued expenses 4,633 3,958
438,506 380,890

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 10,026 21,513
Hire purchase contracts 59,263 -
79,289 31,513

8. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax
Accelerated capital allowances 63,580 41,630
Tax losses carried forward (19,847 ) (2,687 )
43,733 38,943

Deferred
tax
£   
Balance at 1st February 2023 38,943
Movement in the year due to:
changes in tax allowances 21,950
changes in tax rates
change in tax losses (17,160 )
Balance at 31st January 2024 43,733

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
90 Ordinary Shares £1 90 90

COED-Y-GLYN LOG CABINS LIMITED (REGISTERED NUMBER: 09974432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

10. CAPITAL COMMITMENTS
31.1.24 31.1.23
£    £   
Contracted but not provided for in the
financial statements - -

11. ULTIMATE CONTROLLING PARTY

The controlling party is T I J Davies.