2023-04-012024-03-312024-03-31false05271784AER CYMRU 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AER CYMRU CYF

Registered Number
05271784
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

AER CYMRU CYF
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

FALCONER, Brian Pugh
ROBERTS, Edward Martin

Registered Address

Unit 10 Cookes Workshops
Penrhyndeudraeth
LL48 6LT

Registered Number

05271784 (England and Wales)
AER CYMRU CYF
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3194,771202,066
194,771202,066
Current assets
Stocks221,040184,200
Debtors41,373,0701,144,459
Cash at bank and on hand6,16925,013
1,600,2791,353,672
Creditors amounts falling due within one year5(1,317,204)(1,135,933)
Net current assets (liabilities)283,075217,739
Total assets less current liabilities477,846419,805
Creditors amounts falling due after one year6(152,785)(153,990)
Provisions for liabilities9(22,000)(22,000)
Net assets303,061243,815
Capital and reserves
Called up share capital33
Profit and loss account303,058243,812
Shareholders' funds303,061243,815
The financial statements were approved and authorised for issue by the Board of Directors on 26 February 2025, and are signed on its behalf by:
FALCONER, Brian Pugh
Director
Registered Company No. 05271784
AER CYMRU CYF
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the rendering of services. 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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery10-
Fixtures and fittings10-
Vehicles25-
Office Equipment10-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Trade and other 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.
Trade and other 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.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year2729
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 April 23138,49851,651167,20845,93123,116426,404
Additions30,000-11,4912,372-43,863
Disposals(30,000)-(8,995)--(38,995)
At 31 March 24138,49851,651169,70448,30323,116431,272
Depreciation and impairment
At 01 April 2335,06025,107122,45526,50915,207224,338
Charge for year2,7712,65812,0142,02279320,258
On disposals--(8,095)--(8,095)
At 31 March 2437,83127,765126,37428,53116,000236,501
Net book value
At 31 March 24100,66723,88643,33019,7727,116194,771
At 31 March 23103,43826,54444,75319,4227,909202,066
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables296,419296,654
Other debtors1,076,651844,447
Prepayments and accrued income-3,358
Total1,373,0701,144,459
Other debtors includes £1,011,915 (2023: £823,720) recoverable on long-term contracts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables743,485543,618
Bank borrowings and overdrafts125,082120,000
Taxation and social security109,497133,582
Finance lease and HP contracts11,36016,595
Other creditors316,474314,003
Accrued liabilities and deferred income11,3068,135
Total1,317,2041,135,933
Other creditors include £264,649 (2023: £247,130) advanced on debts recoverable.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts47,26345,000
Other creditors105,522108,990
Total152,785153,990
Other creditors include finance lease and HP contracts of £5,522 (2023: £8,990).
7.Secured creditors
£20,000 of the bank loan due within one year and £25,000 of the bank loan due after more than one year (2023: £20,000 and £45,000) is guaranteed by HM Government under the CBILS scheme. £5,082 of the bank loan due within one year and £22,263 of the bank loan due after more than one year (2023: £Nil) is guaranteed by one of the directors. £100,000 of the bank loan due within one year (2023: £100,000) together with the amounts advanced by debt factoring are secured by a fixed and floating charge over the assets and undertaking of the company. Hire purchase liabilities are secured on the assets to which they relate.
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts5,5228,990
9.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made. The provision for deferred tax arises from accelerated capital allowances.

2024

2023

££
Net deferred tax liability (asset)22,00022,000
Total22,00022,000
10.Operating lease commitments
At 31 March 2024 the company had future minimum lease payments under non-cancellable operating leases of £30,939 (2023: £17,475).
11.Related party transactions
During the year a director had a loan account with the company. At the balance sheet date the company owed the director £151,829 of which £100,000 is shown as payable after more than one year (2023: £161,474 - £100,000 payable after more than one year), This loan is unsecured, interest free and repayable upon demand.