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Registration number: 13374569

Angharad James Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Angharad James Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Angharad James Ltd

Company Information

Director

Mrs A James

Registered office

44 Clos Maes Rhedyn
Gorslas
Llanelli
SA14 6SG

 

Angharad James Ltd

(Registration number: 13374569)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

312

462

Current assets

 

Debtors

324

-

Cash at bank and in hand

 

1

46

 

325

46

Creditors: Amounts falling due within one year

6

(7,149)

(4,582)

Net current liabilities

 

(6,824)

(4,536)

Net liabilities

 

(6,512)

(4,074)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(6,513)

(4,075)

Total equity

 

(6,512)

(4,074)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 12 February 2025
 

.........................................
Mrs A James
Director

   
     
 

Angharad James Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
44 Clos Maes Rhedyn
Gorslas
Llanelli
SA14 6SG

These financial statements were authorised for issue by the director on 12 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Angharad James Ltd

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

150

150

 

Angharad James Ltd

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

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

749

749

At 31 May 2024

749

749

Depreciation

At 1 June 2023

287

287

Charge for the year

150

150

At 31 May 2024

437

437

Carrying amount

At 31 May 2024

312

312

At 31 May 2023

462

462

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Other related parties

8

6,501

4,257

Other creditors

 

648

325

 

7,149

4,582

 

Angharad James Ltd

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

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

         

8

Related party transactions

Transactions with directors

2024

At 1 June 2023
£

Other payments made to company by director
£

At 31 May 2024
£

Mrs A James

Interest free loan repayable on demand

(4,257)

(2,244)

(6,501)

       
     

 

2023

At 1 June 2022
£

Other payments made to company by director
£

At 31 May 2023
£

Mrs A James

Interest free loan repayable on demand

(3,945)

(312)

(4,257)