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REGISTERED NUMBER: 06216301 (England and Wales)















Datblygiadau Moelfre Developments Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Datblygiadau Moelfre Developments Ltd (Registered number: 06216301)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Datblygiadau Moelfre Developments Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: K J Thomas





SECRETARY: S L Jones-Thomas





REGISTERED OFFICE: Llechwedd Office
Capel Iwan
Newcastle Emlyn
SA38 9NW





REGISTERED NUMBER: 06216301 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Datblygiadau Moelfre Developments Ltd (Registered number: 06216301)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 287,140 322,815

CURRENT ASSETS
Stocks 3,812,385 1,853,058
Debtors 5 361,291 312,650
Cash at bank 6,621 6,307
4,180,297 2,172,015
CREDITORS
Amounts falling due within one year 6 1,290,757 1,174,903
NET CURRENT ASSETS 2,889,540 997,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,176,680

1,319,927

CREDITORS
Amounts falling due after more than one year 7 (1,911,843 ) (18,163 )

PROVISIONS FOR LIABILITIES (71,786 ) (25,710 )
NET ASSETS 1,193,051 1,276,054

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,193,049 1,276,052
1,193,051 1,276,054

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2025 and were signed by:





K J Thomas - Director


Datblygiadau Moelfre Developments Ltd (Registered number: 06216301)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Datblygiadau Moelfre Developments Ltd 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Datblygiadau Moelfre Developments Ltd (Registered number: 06216301)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 187,500 272,306 14,066
Additions - - 424
At 31 March 2024 187,500 272,306 14,490
DEPRECIATION
At 1 April 2023 - 203,519 8,402
Charge for year - 19,361 1,522
At 31 March 2024 - 222,880 9,924
NET BOOK VALUE
At 31 March 2024 187,500 49,426 4,566
At 31 March 2023 187,500 68,787 5,664

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 92,860 2,133 568,865
Additions - - 424
At 31 March 2024 92,860 2,133 569,289
DEPRECIATION
At 1 April 2023 32,747 1,382 246,050
Charge for year 15,028 188 36,099
At 31 March 2024 47,775 1,570 282,149
NET BOOK VALUE
At 31 March 2024 45,085 563 287,140
At 31 March 2023 60,113 751 322,815

Datblygiadau Moelfre Developments Ltd (Registered number: 06216301)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 114,492 35,807 150,299
DEPRECIATION
At 1 April 2023
and 31 March 2024 83,026 11,563 94,589
NET BOOK VALUE
At 31 March 2024 31,466 24,244 55,710
At 31 March 2023 31,466 24,244 55,710

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 102,366 13,198
Amounts owed by related parties 119,632 172,463
Other debtors 139,293 126,989
361,291 312,650

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 -
Hire purchase contracts 13,886 25,673
Trade creditors 442,257 490,093
Amounts owed to related parties 517,051 288,198
Taxation and social security 39,582 55,787
Other creditors 267,981 315,152
1,290,757 1,174,903

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,908,552 -
Hire purchase contracts 3,291 18,163
1,911,843 18,163

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,918,552 -
Hire purchase contracts 17,177 43,836
1,935,729 43,836