Registered number
11918715
Gwenno Accountancy Services Ltd
Filleted Accounts
30 April 2024
Gwenno Accountancy Services Ltd
Registered number: 11918715
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,904 11,262
Current assets
Debtors 4 9,003 7,580
Cash at bank and in hand 46,072 45,518
55,075 53,098
Creditors: amounts falling due within one year 5 (38,393) (39,653)
Net current assets 16,682 13,445
Net assets 26,586 24,707
Capital and reserves
Called up share capital 10 10
Profit and loss account 26,576 24,697
Shareholder's funds 26,586 24,707
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miss Gwenno S Eynon
Director
Approved by the board on 26 January 2025
Gwenno Accountancy Services Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 4,775 14,500 19,275
Additions 1,349 - 1,349
At 30 April 2024 6,124 14,500 20,624
Depreciation
At 1 May 2023 1,669 6,344 8,013
Charge for the year 668 2,039 2,707
At 30 April 2024 2,337 8,383 10,720
Net book value
At 30 April 2024 3,787 6,117 9,904
At 30 April 2023 3,106 8,156 11,262
4 Debtors 2024 2023
£ £
Trade debtors 10,528 9,205
Other debtors (1,525) (1,625)
9,003 7,580
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,475 7,811
Trade creditors 430 -
Taxation and social security costs 4,464 6,550
Other creditors 28,024 25,292
38,393 39,653
6 Controlling party
The director has lent money to the Company. The amount outstanding at 30th April 2023 amounts to £25,292. (2022 - £20,475)
7 Other information
Gwenno Accountancy Services Ltd is a private company limited by shares and incorporated in Wales. Its registered office is:
Glan Gwaun
Pontfaen
Fishguard
Pembrokeshire
SA65 9SG
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