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Registered Number: 04974384
England and Wales

 

 

 

WA A ME DAVIES CYF



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
Directors W A Davies
M E Davies
D H Dafis
Registered Number 04974384
Registered Office Pantswllt
Talgarreg
Llandysul
Ceredigion
SA44 4ES
Accountants Cyfrifwyr Aeron Accountants
Chartered Certified Accountants
9 Clos Pencarreg
Aberaeron
Ceredigion
SA46 0DX
Secretary M E Davies
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 1,512,101    1,282,442 
Investments 5 128,961    128,961 
1,641,062    1,411,403 
Current assets      
Stocks 6 285,961    276,127 
Debtors: amounts falling due within one year 7 635,327    499,908 
Cash at bank and in hand 345,310    322,107 
1,266,598    1,098,142 
Creditors: amount falling due within one year 8 (390,196)   (307,732)
Net current assets 876,402    790,410 
 
Total assets less current liabilities 2,517,464    2,201,813 
Creditors: amount falling due after more than one year 9 (166,756)   (172,096)
Net assets 2,350,708    2,029,717 
 

Capital and reserves
     
Called up share capital 10 14    14 
Profit and loss account 2,350,694    2,029,703 
Shareholders' funds 2,350,708    2,029,717 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 May 2025 and were signed on its behalf by:


-------------------------------
W A Davies
Director
-------------------------------
D H Dafis
Director
2
General Information
WA a ME Davies Cyf is a private company, limited by shares, registered in England and Wales, registration number 04974384, registration address Pantswllt, Talgarreg, Llandysul, Ceredigion, SA44 4ES.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account in the same period as they are received.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Goodwill had been fully amortised at the year end.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land & Buildings 4% Straight Line
Plant and Machinery 5% - 20% Reducing Balance
Fixed asset investments
Fixed asset investments relate to capital contributions made to a co-operative company which W A a M E Davies is a member.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Biological stocks are included in the financial statements at cost.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Preference shares
The company's preference shares are entitled to priority dividend over the issued ordinary share capital. 
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2024 50,000    50,000 
Additions  
Disposals  
At 31 December 2024 50,000    50,000 
Amortisation
At 01 January 2024 50,000    50,000 
Charge for year  
On disposals  
At 31 December 2024 50,000    50,000 
Net book values
At 31 December 2024  
At 31 December 2023  


4.

Tangible fixed assets

Cost or valuation Land & Buildings   Plant and Machinery   Motor Vehicles   Total
  £   £   £   £
At 01 January 2024 243,082    1,858,142      2,101,224 
Additions   421,734    35,995    457,729 
Disposals   (147,936)     (147,936)
At 31 December 2024 243,082    2,131,940    35,995    2,411,017 
Depreciation
At 01 January 2024 46,938    771,844      818,782 
Charge for year 9,723    149,038    5,399    164,160 
On disposals   (84,026)     (84,026)
At 31 December 2024 56,661    836,856    5,399    898,916 
Net book values
Closing balance as at 31 December 2024 186,421    1,295,084    30,596    1,512,101 
Opening balance as at 01 January 2024 196,144    1,086,298      1,282,442 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2024 128,961    128,961 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2024 128,961    128,961 

6.

Stocks

2024
£
  2023
£
Dairy Herd 197,365    197,365 
Stocks 88,596    78,762 
285,961    276,127 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 125,934    105,145 
Prepayments & Accrued Income 11,225    10,368 
Other Debtors 435,717    359,023 
VAT 62,451    25,372 
635,327    499,908 

8.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 88,516    54,595 
Bank Loans & Overdrafts 10,000    10,000 
Taxation & Social Security 59,203    104,109 
Accrued Expenses 2,050    1,650 
Deferred Grants 13,116    9,716 
Obligations under HP/Financial Leases 41,502    25,111 
Directors' Current Accounts 175,809    102,551 
390,196    307,732 

9.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 13,260    23,192 
Deferred Grants 116,166    98,681 
Obligations Under HP/Financial Leases 37,330    50,223 
166,756    172,096 

10.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
10 Ordinary shares of £1.00 each 10    10 
1 Preference A share of £1.00 each  
1 Preference B share of £1.00 each  
1 Preference C share of £1.00 each  
1 Preference D share of £1.00 each  
14    14 

3