TALBOT TREGARON CYFYNGEDIG


Director	WATKIN, Dafydd Wyn


Registered Address	Y Talbot
	The Square
	Tregaron
	SY25 6JL


Registered Number	07154988 (England and Wales)

Balance Sheet as at
28 February 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		1,526,965		1,530,806
			1,526,965		1,530,806
Current assets
Stocks	5	7,580		7,862
Debtors		38,960		35,899
Cash at bank and on hand		69		7,292
		46,609		51,053
Creditors amounts falling due within one year	6	(106,071)		(144,797)
Net current assets (liabilities)			(59,462)		(93,744)
Total assets less current liabilities			1,467,503		1,437,062
Creditors amounts falling due after one year	7		-		(19,992)
Net assets			1,467,503		1,417,070
Capital and reserves
Called up share capital			1,470,886		1,470,886
Profit and loss account			(3,383)		(53,816)
Shareholders' funds			1,467,503		1,417,070

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 28 March 2025, and are signed on its behalf by:

WATKIN, Dafydd Wyn
Director
Registered Company No. 07154988

TALBOT TREGARON CYFYNGEDIG

Notes to the Financial Statements
for the year ended 28 February 2025

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.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	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.

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.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		26

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 March 24	50,000	50,000
At 28 February 25	50,000	50,000
Amortisation and impairment
At 01 March 24	50,000	50,000
At 28 February 25	50,000	50,000
Net book value
At 28 February 25	-	-
At 29 February 24	-	-

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 March 24	1,521,088	137,039	174,780	1,832,907
At 28 February 25	1,521,088	137,039	174,780	1,832,907
Depreciation and impairment
At 01 March 24	-	129,832	172,269	302,101
Charge for year	-	3,090	751	3,841
At 28 February 25	-	132,922	173,020	305,942
Net book value
At 28 February 25	1,521,088	4,117	1,760	1,526,965
At 29 February 24	1,521,088	7,207	2,511	1,530,806

5.	Stocks

	2025	2024
	£	£
Raw materials and consumables	7,580	7,862
Total	7,580	7,862

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	51,752	103,616
Bank borrowings and overdrafts	33,232	23,605
Taxation and social security	18,036	14,275
Other creditors	-	548
Accrued liabilities and deferred income	3,051	2,753
Total	106,071	144,797


	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.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	19,992
Total	-	19,992

8.	Provisions for liabilities