Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31true2023-08-01falseProduction of meat and poultry products22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04916299 2023-08-01 2024-07-31 04916299 2022-08-01 2023-07-31 04916299 2024-07-31 04916299 2023-07-31 04916299 c:Director1 2023-08-01 2024-07-31 04916299 d:MotorVehicles 2023-08-01 2024-07-31 04916299 d:MotorVehicles 2024-07-31 04916299 d:MotorVehicles 2023-07-31 04916299 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04916299 d:OfficeEquipment 2023-08-01 2024-07-31 04916299 d:OfficeEquipment 2024-07-31 04916299 d:OfficeEquipment 2023-07-31 04916299 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04916299 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04916299 d:CurrentFinancialInstruments 2024-07-31 04916299 d:CurrentFinancialInstruments 2023-07-31 04916299 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04916299 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04916299 d:ShareCapital 2024-07-31 04916299 d:ShareCapital 2023-07-31 04916299 d:RetainedEarningsAccumulatedLosses 2024-07-31 04916299 d:RetainedEarningsAccumulatedLosses 2023-07-31 04916299 c:OrdinaryShareClass1 2023-08-01 2024-07-31 04916299 c:OrdinaryShareClass1 2024-07-31 04916299 c:OrdinaryShareClass1 2023-07-31 04916299 c:FRS102 2023-08-01 2024-07-31 04916299 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04916299 c:FullAccounts 2023-08-01 2024-07-31 04916299 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04916299 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 04916299 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 04916299 4 2023-08-01 2024-07-31 04916299 6 2023-08-01 2024-07-31 04916299 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04916299










MID WALES FAYRES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
MID WALES FAYRES LIMITED
REGISTERED NUMBER: 04916299

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
21,758
24,873

  
21,758
24,873

Current assets
  

Debtors: amounts falling due within one year
 7 
10,431
10,454

Cash at bank and in hand
 8 
9,600
33,155

  
20,031
43,609

Creditors: amounts falling due within one year
 9 
(1,029)
(67,550)

Net current assets/(liabilities)
  
 
 
19,002
 
 
(23,941)

Total assets less current liabilities
  
40,760
932

Provisions for liabilities
  

Deferred tax
 10 
(5,440)
-

  
 
 
(5,440)
 
 
-

Net assets
  
35,320
932


Capital and reserves
  

Called up share capital 
 11 
1,000
1,000

Profit and loss account
  
34,320
(68)

  
35,320
932


Page 1

 
MID WALES FAYRES LIMITED
REGISTERED NUMBER: 04916299
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 November 2024.




D A Watkins OBE
Director

Page 2

 
MID WALES FAYRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The Company is a private company limited by shares and is incorporated and domiciled in the UK. The address of its registered office is Ty Cambrian, Unit 10, Offas Dyke Business Park, Welshpool, Powys, SY21 8JF. 
The company's principal activity is that of processing and preserving of meat products. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.3

Going concern

The Director confirms that the Company is expected to be able to meet its liabilities as they fall due for the foreseeable future. The accounts have therefore been prepared on a going concern basis. It is recognised that the Company is reliant upon debt finance from its parent company to continue operating.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
MID WALES FAYRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line or reducing balance method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
straight line
Plant & machinery
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
MID WALES FAYRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Page 5

 
MID WALES FAYRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Employees

The average monthly number of employees, including the Director, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
2
2


5.


Tangible fixed assets





Motor vehicles
Equipment
Total

£
£
£



Cost or valuation


At 1 August 2023
15,451
58,111
73,562


Additions
-
725
725



At 31 July 2024

15,451
58,836
74,287



Depreciation


At 1 August 2023
15,451
33,238
48,689


Charge for the year on owned assets
-
3,840
3,840



At 31 July 2024

15,451
37,078
52,529



Net book value



At 31 July 2024
-
21,758
21,758



At 31 July 2023
-
24,873
24,873

Page 6

 
MID WALES FAYRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2023
40,000



At 31 July 2024

40,000



Impairment


At 1 August 2023
40,000



At 31 July 2024

40,000



Net book value



At 31 July 2024
-



At 31 July 2023
-


7.


Debtors

2024
2023
£
£


Trade debtors
343
-

Other debtors
10,088
10,112

Deferred taxation
-
342

10,431
10,454


Page 7

 
MID WALES FAYRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,600
33,155

9,600
33,155



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
129
1,032

Other creditors
-
65,793

Accruals and deferred income
900
725

1,029
67,550



10.


Deferred taxation




2024


£






At beginning of year
342


Charged to profit or loss
(5,782)



At end of year
(5,440)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
5,440
(342)

(5,440)
342

Page 8

 
MID WALES FAYRES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



12.


Related party transactions

A loan totalling £10,000 (2023: £10,000) due from a company under comment control is included in debtors due within one year.


13.


Controlling party

The ultimate holding company is Cambrian Training Holdings Limited, which owns 100% of the issued share capital, and is a UK registered company. The registered office address is the same as this Company.

 
Page 9