REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Gwallgofiaid Cyf. |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Gwallgofiaid Cyf. |
Gwallgofiaid Cyf. (Registered number: 04737171) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
Gwallgofiaid Cyf. |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Adeilad St David's Building |
Stryd Lombard Street |
Porthmadog |
Gwynedd |
LL49 9AP |
Gwallgofiaid Cyf. (Registered number: 04737171) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | 10 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
RESERVES |
Income and expenditure account | ( |
) | ( |
) |
( |
) | ( |
) |
The directors acknowledge their 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 surplus or deficit 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. |
Gwallgofiaid Cyf. (Registered number: 04737171) |
Balance Sheet - continued |
30 April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Gwallgofiaid Cyf. (Registered number: 04737171) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Gwallgofiaid Cyf. is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company ended the year with net liabilities, but the accounts have been prepared on the assumption that the company is able to carry on its business as a going concern. The directors consider this basis appropriate as they will continue to provide financial support to the company for at least twelve months from the date of signing these financial statements. |
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 |
Plant and machinery etc | - |
Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
Gwallgofiaid Cyf. (Registered number: 04737171) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
Hire purchase contracts |
Gwallgofiaid Cyf. (Registered number: 04737171) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
The following charge is currently active and detailed on the company's record at Companies House: |
HSBC Bank plc |
Charge date: 17 May 2017 |
Charge code: 0473 7171 0001 |
Type: Fixed and floating charge |
Details: A fixed and floating charge over all assets.Contains fixed charge.Contains floating charge.Floating charge covers all the property or undertaking of the company.Contains negative pledge. |
9. | PROVISIONS FOR LIABILITIES |
30.4.24 | 30.4.23 |
£ | £ |
Deferred tax | 31,778 | 24,502 |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Provided during year |
Balance at 30 April 2024 |
10. | ACCRUALS AND DEFERRED INCOME |
30.4.24 | 30.4.23 |
£ | £ |
Deferred government grants | 139,162 | 99,973 |
The accruals and deferred income figures on the balance sheet relate to capital grants received in connection to cinema fixed asset acquisitions. The figure is amortised on a 5% & 20% reducing balance basis in line with the depreciation policy attached to the related assets. |
11. | RELATED PARTY DISCLOSURES |
The following disclosures relates to Rhys Roberts, who is a director . |
Other debtors include £215.61 owed from Cell b to Gwallgofiaid. |
Other creditors include £10,000 owed to Olwen Roberts & £9,500 to Nia Roberts, who are relatives to the director. |
The director was also in receipt of a salary which was in respect of his role as on officer of the company. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Gwallgofiaid Cyf. |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gwallgofiaid Cyf. for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Gwallgofiaid Cyf., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gwallgofiaid Cyf. and state those matters that we have agreed to state to the Board of Directors of Gwallgofiaid Cyf., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gwallgofiaid Cyf. and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Gwallgofiaid Cyf. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Gwallgofiaid Cyf.. You consider that Gwallgofiaid Cyf. is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Gwallgofiaid Cyf.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Adeilad St David's Building |
Stryd Lombard Street |
Porthmadog |
Gwynedd |
LL49 9AP |
Date: ............................................. |