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COMPANY REGISTRATION NUMBER: 04243820
Menter Aberteifi Cyf
Company Limited by Guarantee
Filleted Unaudited Financial Statements
30 June 2024
Menter Aberteifi Cyf
Company Limited by Guarantee
Financial Statements
Year ended 30 June 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Menter Aberteifi Cyf
Company Limited by Guarantee
Officers and Professional Advisers
The board of directors
Mr J Bura
Ms O M Davies
Mr T C T Parry
Mr M Williams
Mrs B Hiser
Mr J M Cole
Mr D A James
Company secretary
M Williams
Registered office
The Guildhall
High Street
Cardigan
Ceredigion
SA43 1JL
Accountants
R E Matthews FCA
Chartered Accountant
Garn Hebogydd
Gwbert
Cardigan
Ceredigion SA43 1PR
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Menter Aberteifi Cyf
Company Limited by Guarantee
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
4,134
5,312
Current assets
Stocks
1,341
1,552
Debtors
7
11,660
6,889
Cash at bank and in hand
4,625
4,992
--------
--------
17,626
13,433
Creditors: amounts falling due within one year
8
13,371
5,423
--------
--------
Net current assets
4,255
8,010
-------
--------
Total assets less current liabilities
8,389
13,322
Creditors: amounts falling due after more than one year
9
1,384
-------
--------
Net assets
8,389
11,938
-------
--------
Capital and reserves
Profit and loss account
8,389
11,938
-------
--------
Members funds
8,389
11,938
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
Menter Aberteifi Cyf
Company Limited by Guarantee
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Ms O M Davies
Director
Company registration number: 04243820
Menter Aberteifi Cyf
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is The Guildhall, High Street, Cardigan, Ceredigion, SA43 1JL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Equipment
-
33 % reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Company limited by guarantee
Menter Aberteifi Cyf yngedig is a company limited by guarantee and as such has no share capital.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
6. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
6,944
53,008
59,952
-------
--------
--------
Depreciation
At 1 July 2023
2,500
52,140
54,640
Charge for the year
889
289
1,178
-------
--------
--------
At 30 June 2024
3,389
52,429
55,818
-------
--------
--------
Carrying amount
At 30 June 2024
3,555
579
4,134
-------
--------
--------
At 30 June 2023
4,444
868
5,312
-------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
11,372
6,720
Other debtors
288
169
--------
-------
11,660
6,889
--------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,384
2,003
Trade creditors
5,429
1,878
Other creditors
6,558
1,542
--------
-------
13,371
5,423
--------
-------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,384
----
-------