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Company Registration No. 07220869 (England and Wales)
Glyn Rees & Son Limited Unaudited accounts for the year ended 31 December 2024
Glyn Rees & Son Limited Unaudited accounts Contents
Page
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Glyn Rees & Son Limited Company Information for the year ended 31 December 2024
Directors
Mr Dilwyn Rees Mr Dylan Rees
Company Number
07220869 (England and Wales)
Registered Office
Tremynfa, Wyle Cop Street Dinas Mawddwy Machynlleth Powys SY20 9JD
Accountants
Robert Jenkins Ger Y Mynydd Dinas Mawddwy Machynlleth Powys SY20 9LP
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Glyn Rees & Son Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
54,167 
64,167 
Tangible assets
14,067 
19,282 
Investments
101,352 
97,028 
169,586 
180,477 
Current assets
Inventories
11,942 
12,763 
Debtors
64,979 
134,734 
Cash at bank and in hand
724,559 
804,289 
801,480 
951,786 
Creditors: amounts falling due within one year
(122,066)
(127,489)
Net current assets
679,414 
824,297 
Net assets
849,000 
1,004,774 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
848,900 
1,004,674 
Shareholders' funds
849,000 
1,004,774 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by
Mr Dilwyn Rees Director Company Registration No. 07220869
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Glyn Rees & Son Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Glyn Rees & Son Limited is a private company, limited by shares, registered in England and Wales, registration number 07220869. The registered office is Tremynfa, Wyle Cop Street, Dinas Mawddwy, Machynlleth, Powys, SY20 9JD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing balance basis
Fixtures & fittings
20% Reducing balance basis
Intangible fixed assets
Intangible fixed assets (purchased goodwill) are included at cost less accumulated amortisation. Amortisation is calculated to write the goodwill off on a straight line basis over it's useful economic life of 20 years. The useful economic life was estimated on the basis that as a family company Mr Dylan Rees will continue to be involved for this period.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2024
174,167 
At 31 December 2024
174,167 
Amortisation
At 1 January 2024
110,000 
Charge for the year
10,000 
At 31 December 2024
120,000 
Net book value
At 31 December 2024
54,167 
At 31 December 2023
64,167 
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Glyn Rees & Son Limited Notes to the Accounts for the year ended 31 December 2024
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
108,449 
22,027 
130,476 
Disposals
- 
(750)
(750)
At 31 December 2024
108,449 
21,277 
129,726 
Depreciation
At 1 January 2024
93,278 
17,916 
111,194 
Charge for the year
3,793 
672 
4,465 
At 31 December 2024
97,071 
18,588 
115,659 
Net book value
At 31 December 2024
11,378 
2,689 
14,067 
At 31 December 2023
15,171 
4,111 
19,282 
6
Investments
Other investments 
£ 
Valuation at 1 January 2024
97,028 
Additions
4,324 
Valuation at 31 December 2024
101,352 
Prudential International Offshore Bond. Gain on investment of £5,012 has been included in P & L.
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
56,422 
128,565 
Accrued income and prepayments
8,557 
6,169 
64,979 
134,734 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,144 
(1,549)
Trade creditors
2,309 
8,639 
Taxes and social security
(5,807)
23,588 
Loans from directors
107,320 
94,711 
Accruals
17,100 
2,100 
122,066 
127,489 
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Glyn Rees & Son Limited Notes to the Accounts for the year ended 31 December 2024
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
51 Mr Dilwyn Rees of £1 each
51 
51 
49 Mr Dylan Rees of £1 each
49 
49 
100 
100 
10
Transactions with related parties
Directors loan accounts with the Company are used to record amounts due and amounts drawn by the directors during the year. Neither account was overdrawn:
11
Average number of employees
During the year the average number of employees was 8 (2023: 8).
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