Company registration number 00804671 (England and Wales)
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Annual report and unaudited financial statements
For the year ended 30 September 2024
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Company information
Directors
Mr R S Dawson
Mr G H Gittins
Mr D Wadley
Secretary
Ms L R Bartley
Company number
00804671
Registered office
Tan Y Gaer
Trefnanney
Meifod
Powys
SY22 6XX
Accountants
Cadwallader & Co LLP
Eagle House
25 Severn Street
Welshpool
Powys
SY21 7AD
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Contents
Page
Directors' report
1
Income and expenditure account
2
Balance sheet
3
Notes to the financial statements
4 - 7
Accountants' report
8
Detailed income and expenditure account
9
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Directors' report
For the year ended 30 September 2024
- 1 -
The directors present their annual report and financial statements for the year ended 30 September 2024.
Principal activities
The principal activity of the company continued to be that of providing a supply of water to its members.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr R S Dawson
Mr G H Gittins
Mr D Wadley
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
By order of the board
Ms L R Bartley
Secretary
24 June 2025
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Income and expenditure account
For the year ended 30 September 2024
- 2 -
2024
2023
Notes
£
£
Income
7,357
5,938
Administrative expenses
(10,561)
(12,589)
Operating deficit
(3,204)
(6,651)
Interest receivable and similar income
439
238
Deficit before taxation
(2,765)
(6,413)
Tax on deficit
Deficit for the financial year
(2,765)
(6,413)
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Balance sheet
As at 30 September 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,955
3,491
Current assets
Debtors
4
1,040
510
Cash at bank and in hand
27,878
31,300
28,918
31,810
Creditors: amounts falling due within one year
5
(365)
(1,028)
Net current assets
28,553
30,782
Net assets
31,508
34,273
Reserves
Income and expenditure account
7
31,508
34,273
Total members' funds
31,508
34,273
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 June 2025 and are signed on its behalf by:
Mr R S Dawson
Director
Company registration number 00804671 (England and Wales)
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Notes to the financial statements
For the year ended 30 September 2024
- 4 -
1
Accounting policies
Company information
Trefnanney Water Consumers Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Tan Y Gaer, Trefnanney, Meifod, Powys, SY22 6XX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.7
Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 and 30 September 2024
7,658
Depreciation and impairment
At 1 October 2023
4,167
Depreciation charged in the year
536
At 30 September 2024
4,703
Carrying amount
At 30 September 2024
2,955
At 30 September 2023
3,491
Assets are written off over their useful lives of 10 years.
Assets not fully written off included in above are:
Year Cost Item
30/09/2018 £870 Petrol generator
30/09/2021 £4,490 Pump and chlorine pump
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Debtors
466
100
Other debtors - vat
574
410
1,040
510
5
Creditors: amounts falling due within one year
2024
2023
£
£
Creditors
268
Accruals
365
760
365
1,028
6
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Notes to the financial statements (continued)
For the year ended 30 September 2024
- 7 -
7
Income and expenditure account
2024
2023
£
£
At the beginning of the year
34,273
40,686
Deficit for the year
(2,765)
(6,413)
At the end of the year
31,508
34,273
TREFNANNEY WATER CONSUMERS ASSOCIATION LIMITED
Accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of trefnanney water consumers association limited for the year ended 30 September 2024
- 8 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Trefnanney Water Consumers Association Limited for the year ended 30 September 2024 which comprise the income and expenditure account, the 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 at https://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Trefnanney Water Consumers Association Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Trefnanney Water Consumers Association Limited and state those matters that we have agreed to state to the Board of Directors of Trefnanney Water Consumers Association Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trefnanney Water Consumers Association Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Trefnanney Water Consumers Association 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 deficit of Trefnanney Water Consumers Association Limited. You consider that Trefnanney Water Consumers Association 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 Trefnanney Water Consumers Association 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.
Cadwallader & Co LLP
Chartered Accountants
Eagle House
25 Severn Street
Welshpool
Powys
SY21 7AD
24 June 2025