0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 548,572 71,063 10,972 82,035 466,537 477,509 xbrli:pure xbrli:shares iso4217:GBP 08538439 2023-07-01 2024-06-30 08538439 2024-06-30 08538439 2023-06-30 08538439 2022-07-01 2023-06-30 08538439 2023-06-30 08538439 2022-06-30 08538439 bus:Director1 2023-07-01 2024-06-30 08538439 core:PlantMachinery 2023-06-30 08538439 core:PlantMachinery 2024-06-30 08538439 core:WithinOneYear 2024-06-30 08538439 core:WithinOneYear 2023-06-30 08538439 core:AfterOneYear 2024-06-30 08538439 core:AfterOneYear 2023-06-30 08538439 core:ShareCapital 2024-06-30 08538439 core:ShareCapital 2023-06-30 08538439 core:RetainedEarningsAccumulatedLosses 2024-06-30 08538439 core:RetainedEarningsAccumulatedLosses 2023-06-30 08538439 core:PlantMachinery 2023-07-01 2024-06-30 08538439 core:PlantMachinery 2023-06-30 08538439 bus:SmallEntities 2023-07-01 2024-06-30 08538439 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08538439 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08538439 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08538439 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 08538439
MAES ELWY HYDRO LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2024
MAES ELWY HYDRO LTD
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
466,537
477,509
Current assets
Debtors
5
1,919
11,008
Cash at bank and in hand
50,722
16,512
--------
--------
52,641
27,520
Creditors: amounts falling due within one year
6
56,313
34,414
--------
--------
Net current liabilities
3,672
6,894
---------
---------
Total assets less current liabilities
462,865
470,615
Creditors: amounts falling due after more than one year
7
71,159
146,332
Provisions
18,227
17,665
---------
---------
Net assets
373,479
306,618
---------
---------
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss account
273,479
206,618
---------
---------
Shareholders funds
373,479
306,618
---------
---------
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 comprehensive income 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 .
MAES ELWY HYDRO LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 26 March 2025 , and are signed on behalf of the board by:
Mr J M Hardy
Director
Company registration number: 08538439
MAES ELWY HYDRO LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Clogwyn y Gwin, Rhyd Ddu, Caernarfon, Gwynedd, LL54 7YS.
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. 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 and represents amounts receivable for energy generated, stated net of discounts and of Value Added Tax. Revenue is recognised when the value 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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
-
Over 50 years
4. Tangible assets
Plant and machinery
£
Cost
At 1 July 2023 and 30 June 2024
548,572
---------
Depreciation
At 1 July 2023
71,063
Charge for the year
10,972
---------
At 30 June 2024
82,035
---------
Carrying amount
At 30 June 2024
466,537
---------
At 30 June 2023
477,509
---------
5. Debtors
2024
2023
£
£
Trade debtors
1,524
11,008
Other debtors
395
-------
--------
1,919
11,008
-------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,180
3,580
Trade creditors
2,610
2,628
Corporation tax
18,537
7,329
Social security and other taxes
2,497
1,335
Amounts owed to connected companies
4,000
Other creditors
25,489
19,542
--------
--------
56,313
34,414
--------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,159
6,332
Other creditors
70,000
140,000
--------
---------
71,159
146,332
--------
---------
8. Directors' advances, credits and guarantees
There were no director's advances, credits or guarantees during the year.