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REGISTERED NUMBER: 01190858 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Terry Reffell (Pencoed) Limited

Terry Reffell (Pencoed) Limited (Registered number: 01190858)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Terry Reffell (Pencoed) Limited

Company Information
for the Year Ended 31 December 2024







Director: G R Reffell





Registered office: Kent Road
Bridgend Industrial Estate
Bridgend
CF31 3TU





Registered number: 01190858 (England and Wales)





Accountants: Curtis Bowden & Thomas Limited
Chartered Certified Accountants
101 Dunraven Street
Tonypandy
CF40 1AR

Terry Reffell (Pencoed) Limited (Registered number: 01190858)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 190,402 181,101
Investment property 5 300,000 300,000
490,402 481,101

Current assets
Stocks 6 503,701 503,887
Debtors 7 86,423 147,778
Cash at bank and in hand 643,420 611,118
1,233,544 1,262,783
Creditors
Amounts falling due within one year 8 301,829 362,755
Net current assets 931,715 900,028
Total assets less current liabilities 1,422,117 1,381,129

Creditors
Amounts falling due after more than one
year

9

(14,219

)

-

Provisions for liabilities (13,993 ) (11,113 )
Net assets 1,393,905 1,370,016

Capital and reserves
Called up share capital 500 500
Fair value reserve 10 76,117 76,117
Retained earnings 10 1,317,288 1,293,399
Shareholders' funds 1,393,905 1,370,016

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Terry Reffell (Pencoed) Limited (Registered number: 01190858)

Statement of Financial Position - continued
31 December 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





G R Reffell - Director


Terry Reffell (Pencoed) Limited (Registered number: 01190858)

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

1. Statutory information

Terry Reffell (Pencoed) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on reducing balance
Motor vehicles - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Terry Reffell (Pencoed) Limited (Registered number: 01190858)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. Employees and directors

The average number of employees during the year was 11 (2023 - 11 ) .

4. Tangible fixed assets
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Cost
At 1 January 2024 340,136 146,654 74,250 561,040
Additions - 5,029 20,995 26,024
Disposals - - (22,100 ) (22,100 )
At 31 December 2024 340,136 151,683 73,145 564,964
Depreciation
At 1 January 2024 217,527 112,295 50,117 379,939
Charge for year 5,854 4,260 6,609 16,723
Eliminated on disposal - - (22,100 ) (22,100 )
At 31 December 2024 223,381 116,555 34,626 374,562
Net book value
At 31 December 2024 116,755 35,128 38,519 190,402
At 31 December 2023 122,609 34,359 24,133 181,101

Included in the above are assets held under finance of £20,295

5. Investment property
Total
£   
Fair value
At 1 January 2024
and 31 December 2024 300,000
Net book value
At 31 December 2024 300,000
At 31 December 2023 300,000

The Investment Property was valued at a current market value of £300,000 by Payton Jewell Caines on 1st April 2021.

6. Stocks
31.12.24 31.12.23
£    £   
Stocks 503,701 503,887

Terry Reffell (Pencoed) Limited (Registered number: 01190858)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. Debtors: amounts falling due within one year
31.12.24 31.12.23
£    £   
Trade debtors 77,306 129,445
Other debtors 9,117 18,333
86,423 147,778

8. Creditors: amounts falling due within one year
31.12.24 31.12.23
£    £   
Hire purchase contracts 6,339 -
Trade creditors 238,644 322,413
Taxation and social security 34,989 28,003
Other creditors 21,857 12,339
301,829 362,755

9. Creditors: amounts falling due after more than one year
31.12.24 31.12.23
£    £   
Hire purchase contracts 14,219 -

10. Reserves
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2024 1,293,399 76,117 1,369,516
Profit for the year 48,889 48,889
Dividends (25,000 ) (25,000 )
At 31 December 2024 1,317,288 76,117 1,393,405

11. Related party disclosures

During the year, total dividends of £25,000 (2023 - £22,500) were paid to the director .

As at 31st December 2024 Mr G R Reffell , a director, was owed £9,813 from the company. As at 1 January 2023 £357 was owed from the company,during the year there were an aggregate of advances of £11,543 and repayments of £25,,000.

The ultimate controlling party is MR G R Reffell.