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
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
Glyn Rees & Son Limited
Statement of financial position
as at 31 December 2024
Intangible assets
54,167
64,167
Tangible assets
14,067
19,282
Investments
101,352
97,028
Cash at bank and in hand
724,559
804,289
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
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
Glyn Rees & Son Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
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.
The accounts have been prepared under the historical cost convention.
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 (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
At 31 December 2024
174,167
Charge for the year
10,000
At 31 December 2024
120,000
At 31 December 2024
54,167
At 31 December 2023
64,167
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
At 31 December 2024
108,449
21,277
129,726
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
At 31 December 2024
11,378
2,689
14,067
At 31 December 2023
15,171
4,111
19,282
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Investments
Other investments
Valuation at 1 January 2024
97,028
Valuation at 31 December 2024
101,352
Prudential International Offshore Bond. Gain on investment of £5,012 has been included in P & L.
Amounts falling due within one year
Trade debtors
56,422
128,565
Accrued income and prepayments
8,557
6,169
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
2,309
8,639
Taxes and social security
(5,807)
23,588
Loans from directors
107,320
94,711
Glyn Rees & Son Limited
Notes to the Accounts
for the year ended 31 December 2024
Allotted, called up and fully paid:
51 Mr Dilwyn Rees of £1 each
51
51
49 Mr Dylan Rees of £1 each
49
49
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).