Registered number
09002276
Cwm Eynon Property Limited
Unaudited Filleted Accounts
31 May 2024
Cwm Eynon Property Limited
Registered number: 09002276
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Current assets
Stocks - 60,150
Debtors 3 75,720 75,570
Cash at bank and in hand 114 90,958
75,834 226,678
Creditors: amounts falling due within one year 4 (27,408) (18,678)
Net current assets 48,426 208,000
Total assets less current liabilities 48,426 208,000
Creditors: amounts falling due after more than one year 5 - (215,337)
Net assets/(liabilities) 48,426 (7,337)
Capital and reserves
Called up share capital 2 2
Profit and loss account 48,424 (7,339)
Shareholders' funds 48,426 (7,337)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr E A Jones
Director
Approved by the board on 14 February 2025
Cwm Eynon Property Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2024 2023
£ £
Trade debtors 75,000 75,000
Other debtors 720 570
75,720 75,570
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 8,991
Taxation and social security costs 13,220 -
Other creditors 14,188 9,687
27,408 18,678
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 215,337
6 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 177,384
Secured bank loans - 224,328
The bank loan is secured by a first legal charge over some of the freehold property owned by the directors together with a guarantee covering the principal, interest and other costs.
The bank loan is repayable in equal instalments of capital and interest. The interest rate is 2.1% over the Lloyds Bank Plc base rate.
7 Related party transactions
Mr E A & Mrs E R Jones are directors and shareholders of the company.
Mr & Mrs Jones have made freehold property available rent free to the company for it to use in its commercial property letting business and as security for its bank borrowings. The company has renovated some of the buildings on this property with a view to entering into a long term lease with prospective tenants.
During the year Mr & Mrs Jones' farming partnership made temporary use of the renovated buildings at a commercial rent.
8 Controlling party
The company is under the control of the directors by virtue of their shareholdings in the company.
9 Other information
Cwm Eynon Property Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Brooklyn
Brooklands Farm
Pembrey
Carmarthenshire
SA16 0HJ
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