REGISTERED NUMBER: 03737368 (England and Wales)

Annog Cyf

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs R L Colley

Mr O D Gruffydd

Mr G Ll Jones

Dr J I Jones

Mr A D Billcliff

Dr I Gruffydd

Mr B Jones

Dr G W Jones

Dr G W Morgan

Ms C Owen

Mr G Llwyd

Ms H M Williams

SECRETARIES:

Mr G W Owen

Ms B L Fraser-Williams

Ms S M Thomas

Ms M E Hughes

REGISTERED OFFICE:

Town Hall

Bulkley Square

Llangefni

Gwynedd

LL77 7LR

REGISTERED NUMBER:

03737368 (England and Wales)

AUDITORS:

Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

CURRENT ASSETS

Debtors

5

791,770

927,571

Cash at bank

407,481

353,872

1,199,251

1,281,443

CREDITORS

Amounts falling due within one year

6

625,026

923,021

NET CURRENT ASSETS

574,225

358,422

TOTAL ASSETS LESS CURRENT LIABILITIES

574,225

358,422

RESERVES

Income and expenditure account

574,225

358,422

574,225

358,422

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 19 September 2025 and were signed on its behalf by:

Mr O D Gruffydd - Director

1.	STATUTORY INFORMATION

Annog Cyf is a private company, limited by guarantee , registered in England and 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.

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

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

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in surplus or deficit.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

89,259

Disposals

(89,259

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

89,259

Eliminated on disposal

(89,259

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

223,114

299,289

Amounts owed by group undertakings

565,380

625,006

Other debtors

3,276

3,276

791,770

927,571

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

285,464

210,674

Taxation and social security

251,064

246,341

Other creditors

88,498

466,006

625,026

923,021

7.	SECURED DEBTS

The bank overdrafts are secured by fixed and floating charges over the company's assets.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aled Roberts (Senior Statutory Auditor)

for and on behalf of Salisbury & Company Business Solutions Limited

9.	RELATED PARTY DISCLOSURES

As at 31 December 2024 there was £564,563 (2023: £625,006) owing from Menter Mon Cyf and £817 (2023: £Nil) from Menter Mon Morlais Limited to Annog Cyf.

10.	DEFINED BENEFIT PENSION SCHEME

The company offers membership of a defined benefit pension scheme for the benefit of employees. The scheme's funds are administered by Gwynedd Council and are independent of the Company's finances. Contributions are paid to the scheme in accordance with the recommendations of the scheme administrators.

The triennial actuarial valuation of the scheme was carried out at 31 March 2022, then updated at 31 December 2024 by an independent qualified actuary in accordance with FRS102. The valuation includes employees of Annog's related undertaking, Menter Mon Cyf, and for this reason only 14% of the valuation's assets, liabilities, income and costs have been included in these financial statements (the remainder being included in the financial statements of Menter Mon Cyf).

The major assumptions used for the valuation were:

2024

2023

Pension Increase/Revaluation Rate (CPI)

2.70%

2.75%

Salary Increase Rate

3.20%

3.25%

Discount Rate

5.55%

4.55%

The fair value of the scheme assets and present value of the scheme liabilities at the balance sheet date were:

2024 (£'000

)

2023 (£'000

)

Fair value of plan assets

1,358

2,062

Present value of funded liabilities

(841

)

(1,726

)

Net pension asset/(liability)

517

336

The pension scheme surplus of £517,020 (£335,500) is not recognised as an asset in the balance sheet at 31 December 2024.

The movement in the Deficit during the year was as follows:

2024 (£'000

)

2023 (£'000

)

(Deficit) at beginning of the year

-

-

Charged to operating profit (service cost less net interest and employer contributions)

128

29

Remeasurements included in Statement of Comprehensive Income

(128

)

(29

)

(Deficit) at the end of the year

-

-