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REGISTERED NUMBER: 01624565 (Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Moduron Maethlu (Motors) Limited

Moduron Maethlu (Motors) Limited (Registered number: 01624565)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Moduron Maethlu (Motors) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mrs S Jones
Mr JP Jones
Mr I Jones





SECRETARY: Mr JP Jones





REGISTERED OFFICE: Unit 10-15 Mona Industrial Park
Gwalchmai
Holyhead
LL65 4RJ





REGISTERED NUMBER: 01624565 (Wales)





ACCOUNTANTS: Emyr Mortimer Cyf
32 Y Maes
Caernarfon
Gwynedd
LL55 2NN

Moduron Maethlu (Motors) Limited (Registered number: 01624565)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 389,271 432,268
Investments 5 78,870 92,070
468,141 524,338

CURRENT ASSETS
Stocks 66,886 80,000
Debtors 6 303,978 281,613
Cash at bank and in hand 273,411 194,068
644,275 555,681
CREDITORS
Amounts falling due within one
year

7

325,256

323,856
NET CURRENT ASSETS 319,019 231,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

787,160

756,163

CREDITORS
Amounts falling due after more
than one year

8

(14,836

)

(27,539

)

PROVISIONS FOR LIABILITIES (27,983 ) (30,327 )
NET ASSETS 744,341 698,297

Moduron Maethlu (Motors) Limited (Registered number: 01624565)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 744,339 698,295
744,341 698,297

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 31 May 2025 and were signed on its behalf by:





Mr I Jones - Director


Moduron Maethlu (Motors) Limited (Registered number: 01624565)

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

1. STATUTORY INFORMATION

Moduron Maethlu (Motors) Limited 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 as modified by the revaluation of certain assets.

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

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

Land and buildings - in accordance with the property
Plant & machinery - 20% on reducing balance
Fixtures and fitings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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

Moduron Maethlu (Motors) Limited (Registered number: 01624565)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future paymentsdiscounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, animpairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individuallysignificant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


Moduron Maethlu (Motors) Limited (Registered number: 01624565)

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

2. ACCOUNTING POLICIES - continued
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.

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 15 (2023 - 16 ) .

Moduron Maethlu (Motors) Limited (Registered number: 01624565)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 696,215 552,972 1,249,187
Additions - 13,111 13,111
At 31 May 2024 696,215 566,083 1,262,298
DEPRECIATION
At 1 June 2023 418,562 398,357 816,919
Charge for year 35,663 20,445 56,108
At 31 May 2024 454,225 418,802 873,027
NET BOOK VALUE
At 31 May 2024 241,990 147,281 389,271
At 31 May 2023 277,653 154,615 432,268

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 June 2023 92,070
Disposals (13,200 )
At 31 May 2024 78,870
NET BOOK VALUE
At 31 May 2024 78,870
At 31 May 2023 92,070

Fixed asset investments were valued on an open market basis with the last Quilter valuation being on 31 May 2022. The directors believe that this remains a fair valuation in the current period.

Moduron Maethlu (Motors) Limited (Registered number: 01624565)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.5.24 31.5.23
£    £   
Trade debtors 303,978 281,613

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 14,368 17,182
Hire purchase contracts - 1,839
Trade creditors 205,467 195,928
Taxation and social security 71,483 75,130
Other creditors 33,938 33,777
325,256 323,856

Secured loans and overdraft totalled £14,368 (2023 £17,182).

The bank overdraft and loans are secured by a fixed and floating charge over all of the company's assets.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 14,836 27,539

Secured loans and overdraft totalled £14,836 (2023 £27,539).

The bank overdraft and loans are secured by a fixed and floating charge over all of the company's assets.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Moduron Maethlu (Motors) Limited

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 Moduron Maethlu (Motors) Limited for the year ended 31 May 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 Moduron Maethlu (Motors) Limited, 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 Moduron Maethlu (Motors) Limited and state those matters that we have agreed to state to the Board of Directors of Moduron Maethlu (Motors) Limited, 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 Moduron Maethlu (Motors) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Moduron Maethlu (Motors) Limited 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 Moduron Maethlu (Motors) Limited. You consider that Moduron Maethlu (Motors) Limited 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 Moduron Maethlu (Motors) Limited. 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.






Emyr Mortimer Cyf
32 Y Maes

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Moduron Maethlu (Motors) Limited

Caernarfon
Gwynedd
LL55 2NN


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