Company registration number 00880294 (England and Wales)
CAEGLAS COLLIERY CO LIMITED (THE)
Unaudited Financial Statements
for the Year Ended 30 June 2024
CAEGLAS COLLIERY CO LIMITED (THE)
CONTENTS
Page
Company Information
1
Balance sheet
2
Notes to the financial statements
3 - 5
CAEGLAS COLLIERY CO LIMITED (THE)
Company Information
- 1 -
Directors
Mr Terence Rowe
Mrs Linda Rowe
Mr Malcolm Rowe
Company number
00880294
Registered office
5 Rowan Close
Nelson
Treharris
Mid Glamorgan
UK
CF46 6EN
Accountants
Mitchell Associates Ltd
The Business Park
Triangle Business Centre
Merthyr Tydfil
CF48 4TQ
CAEGLAS COLLIERY CO LIMITED (THE)
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,034
10,543
Current assets
Debtors
4
17,664
17,776
Cash at bank and in hand
6,567
5,602
24,231
23,378
Creditors: amounts falling due within one year
5
(95,086)
(84,792)
Net current liabilities
(70,855)
(61,414)
Net liabilities
(60,821)
(50,871)
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
(61,121)
(51,171)
Total equity
(60,821)
(50,871)

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 March 2025 and are signed on its behalf by:
Mr Terence  Rowe
Director
Company registration number 00880294 (England and Wales)
CAEGLAS COLLIERY CO LIMITED (THE)
Notes to the Financial Statements
For the Year Ended 30 June 2024
- 3 -
1
Accounting policies
Company information

Caeglas Colliery Co Limited (The) is a private company limited by shares incorporated in England and Wales. The registered office is 5 Rowan Close, Nelson, Treharris, Mid Glamorgan, UK, CF46 6EN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the balance sheet date the company had net current liabilities of £true70,855 (2023 - £61,414) and total net liabilities of £60,821 (2023 - £50,871). However creditors includes loans from the directors of £94,648 (2023 - £84,337). On the basis of their continued support, the directors consider it appropriate to prepare these accounts on the going concern basis.

1.3
Turnover

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 Turnover when:

The amount of Turnover 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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
6% reducing balance
Plant and equipment
15% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

CAEGLAS COLLIERY CO LIMITED (THE)
Notes to the Financial Statements
For the Year Ended 30 June 2024
1
Accounting policies
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

CAEGLAS COLLIERY CO LIMITED (THE)
Notes to the Financial Statements
For the Year Ended 30 June 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023 and 30 June 2024
39,010
39,614
35,921
114,545
Depreciation and impairment
At 1 July 2023
28,616
39,465
35,921
104,002
Depreciation charged in the year
459
50
-
0
509
At 30 June 2024
29,075
39,515
35,921
104,511
Carrying amount
At 30 June 2024
9,935
99
-
0
10,034
At 30 June 2023
10,394
149
-
0
10,543
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
540
Other debtors
17,664
17,236
17,664
17,776
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
94,648
84,337
Accruals and deferred income
438
455
95,086
84,792
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