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REGISTERED NUMBER: 02734601 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Corris Caverns Limited

Corris Caverns Limited (Registered number: 02734601)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Corris Caverns Limited (Registered number: 02734601)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 447,294 464,241

CURRENT ASSETS
Stocks 46,745 34,438
Debtors 5 55,875 62,519
Cash at bank and in hand 442,440 372,207
545,060 469,164
CREDITORS
Amounts falling due within one year 6 86,413 71,836
NET CURRENT ASSETS 458,647 397,328
TOTAL ASSETS LESS CURRENT
LIABILITIES

905,941

861,569

CREDITORS
Amounts falling due after more than one year 7 (190,935 ) (207,073 )

PROVISIONS FOR LIABILITIES (13,006 ) (11,762 )
NET ASSETS 702,000 642,734

CAPITAL AND RESERVES
Called up share capital 117,502 117,502
Retained earnings 584,498 525,232
SHAREHOLDERS' FUNDS 702,000 642,734

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 directors acknowledge their 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.

Corris Caverns Limited (Registered number: 02734601)

Balance Sheet - 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 Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:




Mr P D Cameron - Director



Mr D M Cameron - Director


Corris Caverns Limited (Registered number: 02734601)

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

1. STATUTORY INFORMATION

Corris Caverns Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02734601

Registered office: 1 Corris Craft Centre
Corris
Machynlleth
Powys
SY20 9RF

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.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 2% on cost

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Government grants
All grants received in relation to assets held or purchased are released to the profit and loss account over the asset's useful life as determined by the tangible fixed assets policy on depreciation.

The company considers that there has been no breach of grant conditions and is reasonably assured that possibility of grant repayment is remote.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 31 ) .

Corris Caverns Limited (Registered number: 02734601)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 402,455 850,810 1,253,265
Additions - 12,823 12,823
At 31 December 2024 402,455 863,633 1,266,088
DEPRECIATION
At 1 January 2024 177,645 611,379 789,024
Charge for year 7,249 22,521 29,770
At 31 December 2024 184,894 633,900 818,794
NET BOOK VALUE
At 31 December 2024 217,561 229,733 447,294
At 31 December 2023 224,810 239,431 464,241

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 20,365 15,096
Other debtors 35,510 47,423
55,875 62,519

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,320 10,320
Trade creditors 2,356 1,981
Other deferred income 14,313 12,953
Tax 25,241 7,681
Social security and other taxes 4,211 5,800
VAT 17,882 21,048
Other creditors 452 567
Accruals and deferred income 5,500 5,250
Deferred government grant 6,138 6,236
86,413 71,836

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bounce Back Loan 1-2 years 5,513 10,320
Bounce Back Loan 2-5 years - 5,193
Deferred government grants 185,422 191,560
190,935 207,073

Corris Caverns Limited (Registered number: 02734601)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   

Barclays Bank Plc hold a registered legal charge on all monies due or to become due from the company to the chargee on any account whatsoever.

The charge, which remained at the period end, relates to land lying on the east and west sides of the roadway leading from Mynydd Braich-Goch to Corris Uchaf, Corris and land at Mynydd Braichgoch Corris Gwynedd T/Nos: WA713733 and WA536672.