Derwydd Garage Limited


Directors	Mr G G Perfect
	Mrs C A Perfect


Company Secretary	Mrs C A Perfect


Registered Address	74 High Street
	Fishguard
	SA65 9AU


Registered Number	02756427 (England and Wales)

Balance Sheet as at
31 January 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		387,813		375,477
			387,813		375,477
Current assets
Stocks	4	37,500		35,000
Debtors	5	146,709		135,497
Cash at bank and on hand		13,403		18,217
		197,612		188,714
Creditors amounts falling due within one year	6	(517,470)		(493,320)
Net current assets (liabilities)			(319,858)		(304,606)
Total assets less current liabilities			67,955		70,871
Creditors amounts falling due after one year	7		(31,439)		(36,128)
Net assets			36,516		34,743
Capital and reserves
Called up share capital			50,000		50,000
Profit and loss account			(13,484)		(15,257)
Shareholders' funds			36,516		34,743

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 3 September 2025, and are signed on its behalf by:

Mr G G Perfect
Director
Registered Company No. 02756427

Derwydd Garage Limited

Notes to the Financial Statements
for the year ended 31 January 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	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 policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets except land and buildings as follows:


		Straight line (years)
	Plant and machinery	5
	Fixtures and fittings	4
	Office Equipment	3

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	4		3

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 February 24	515,091
	Additions	41,728
	Disposals	(3,000)
	At 31 January 25	553,819
	Depreciation and impairment
	At 01 February 24	139,615
	Charge for year	29,391
	On disposals	(3,000)
	At 31 January 25	166,006
	Net book value
	At 31 January 25	387,813
	At 31 January 24	375,477

4.	Stocks

	2025	2024
	£	£
Raw materials and consumables	37,500	35,000
Total	37,500	35,000

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	24,311	25,559
Amounts owed by group undertakings	91,323	72,123
Other debtors	24,000	32,000
Prepayments and accrued income	7,075	5,815
Total	146,709	135,497

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	17,486	18,256
Bank borrowings and overdrafts	4,690	4,485
Amounts owed to related parties	229,276	198,476
Taxation and social security	20,783	11,044
Other creditors	245,235	258,560
Accrued liabilities and deferred income	-	2,499
Total	517,470	493,320


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	31,439	36,128
Total	31,439	36,128

8.	Related party transactions
	Derwydd Garage Limited is a related party of Tynewydd Developments Limited and Cloverton Properties (Cilgerran) Limited by virtue of the common control of the parent company Good Stewards Limited. At the balance sheet date £92,323 (2024 - £72,123) was due from Cloverton Properties (Cilgerran) Limited; £178,503 (2024 - £197,703) was due to Tynewydd Developments Limited and £50,773 (2024 - £773) to Good Stewards Limited.

Related party transactions

Derwydd Garage Limited is a related party of Tynewydd Developments Limited and Cloverton Properties (Cilgerran) Limited by virtue of the common control of the parent company Good Stewards Limited.  At the balance sheet date £92,323 (2024 - £72,123) was due from Cloverton Properties (Cilgerran) Limited;  £178,503 (2024 - £197,703) was due to Tynewydd Developments Limited and £50,773 (2024 - £773) to Good Stewards Limited.