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REGISTERED NUMBER: 09198631 (Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

J M Hughes a'i Feibion Cyf

J M Hughes a'i Feibion Cyf (Registered number: 09198631)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

J M Hughes a'i Feibion Cyf

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr J G Hughes
Mr I W Hughes





REGISTERED OFFICE: Adeilad St. David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP





REGISTERED NUMBER: 09198631 (Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

J M Hughes a'i Feibion Cyf (Registered number: 09198631)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,200
Tangible assets 5 37,910 39,373
37,910 41,573

CURRENT ASSETS
Stocks 4,546 3,545
Debtors 6 14,457 13,554
Cash at bank and in hand 18,646 22,206
37,649 39,305
CREDITORS
Amounts falling due within one year 7 77,807 86,231
NET CURRENT LIABILITIES (40,158 ) (46,926 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,248

)

(5,353

)

PROVISIONS FOR LIABILITIES 623 1,750
NET LIABILITIES (2,871 ) (7,103 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,971 ) (7,203 )
SHAREHOLDERS' FUNDS (2,871 ) (7,103 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

J M Hughes a'i Feibion Cyf (Registered number: 09198631)

Balance Sheet - continued
30 September 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 J G Hughes - Director



Mr I W Hughes - Director


J M Hughes a'i Feibion Cyf (Registered number: 09198631)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

J M Hughes a'i Feibion Cyf is a private company, limited by shares , registered in Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The directors have considered the basis for the preparation of the financial statements and consider the going concern basis to be the most suitable. The directors agree that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. Therefore, the accounts have been prepared on the assumption that the company is thus able to carry on its business as a going concern

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 2% straight line
Plant & machinery - 20% reducing balance
Fixtures & fittings - 20% reducing balance
Motor vehicles - 20% reducing balance
Computer equipment - 20% reducing balance

Fixed assets are stated at their cost prices less accumulated depreciation and less any amounts recognised in respect of impairment.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


J M Hughes a'i Feibion Cyf (Registered number: 09198631)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 22,000
AMORTISATION
At 1 October 2023 19,800
Charge for year 2,200
At 30 September 2024 22,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 2,200

J M Hughes a'i Feibion Cyf (Registered number: 09198631)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 24,337 34,757 59,094
Additions - 358 358
At 30 September 2024 24,337 35,115 59,452
DEPRECIATION
At 1 October 2023 - 19,721 19,721
Charge for year - 1,821 1,821
At 30 September 2024 - 21,542 21,542
NET BOOK VALUE
At 30 September 2024 24,337 13,573 37,910
At 30 September 2023 24,337 15,036 39,373

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 14,457 13,554

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts - 2,764
Trade creditors 9,439 13,223
Taxation and social security 4,266 4,517
Other creditors 64,102 65,727
77,807 86,231

J M Hughes a'i Feibion Cyf (Registered number: 09198631)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans - 2,764

The Debt is all money and liabilities whatever, whenever and however incurred whether now or in the future due, or becoming due, from the Company to the Bank

This includes but is not limited to:
a) overdrafts, loans or other facilities and further advances of money;
b) guarantees and indemnities to the Bank and any of the Company's other contingent liabilities;
c) discount, commission and other lawful charges and expenses;
d) interest in accordance with any agreement between the Company and the Bank and, if there is no agreement, interest on any money and liabilities due from the Company at an annual rate of 3% above the Bank's base rate from time to time computed and compounded monthly and/or according to the Bank's then current practice. Interest as above applies before and after any demand or judgement;
e) money agreed to be paid by the Company under the clauses of this agreement.

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £Nil were paid to the Directors.


The Directors' loan accounts remained in credit throughout the year in 2023 and this did not change in 2024.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
J M Hughes a'i Feibion Cyf

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J M Hughes a'i Feibion Cyf for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of J M Hughes a'i Feibion Cyf, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J M Hughes a'i Feibion Cyf and state those matters that we have agreed to state to the Board of Directors of J M Hughes a'i Feibion Cyf, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J M Hughes a'i Feibion Cyf and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J M Hughes a'i Feibion Cyf has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J M Hughes a'i Feibion Cyf. You consider that J M Hughes a'i Feibion Cyf is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J M Hughes a'i Feibion Cyf. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP


Date: .............................................