Gwyndaf Evans Motors Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 07977964 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Gwyndaf Evans Motors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Evans

E R Evans

SECRETARY:

REGISTERED OFFICE:

Arran Road

Dolgellau

Gwynedd

LL40 1LA

REGISTERED NUMBER:

07977964 (England and Wales)

ACCOUNTANTS:

J Llywelyn Hughes & Co

Chartered Accountants

Ty'r Bont

Llanrwst

Conwy

LL26 0EY

FIXED ASSETS

Intangible assets

4

-

13,800

Tangible assets

5

2,664,379

2,624,830

2,664,379

2,638,630

CURRENT ASSETS

Stocks

1,240,268

771,872

Debtors

6

115,423

109,039

Investments

7

94,250

Cash at bank and in hand

4,013,871

4,623,200

5,463,812

5,598,361

CREDITORS

Amounts falling due within one year

8

759,221

741,061

NET CURRENT ASSETS

4,704,591

4,857,300

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,368,970

7,495,930

PROVISIONS FOR LIABILITIES

84,409

93,838

NET ASSETS

7,284,561

7,402,092

CAPITAL AND RESERVES

Called up share capital

50,000

Retained earnings

7,234,561

7,352,092

SHAREHOLDERS' FUNDS

7,284,561

7,402,092

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 September 2025 and were signed on its behalf by:

G Evans - Director

1.	STATUTORY INFORMATION

Gwyndaf Evans Motors Ltd is a private company, limited by shares , 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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, 20% on cost and 10% on cost

Stocks

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

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.

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.

Foreign currencies

Assets in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken to the profit and loss account.

Investments

Investments relate to an investment in an unlisted entity which is stated at cost. The directors assessed the investment for impairment as at 31 December 2023 and did not consider that it was showing any indicators of impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

160,000

AMORTISATION

At 1 January 2024

146,200

Charge for year

13,800

At 31 December 2024

160,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

13,800

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

2,130,713

634,134

2,764,847

Additions

181,826

40,786

222,612

Disposals

-

(71,542

)

(71,542

)

At 31 December 2024

2,312,539

603,378

2,915,917

DEPRECIATION

At 1 January 2024

-

140,017

Charge for year

-

131,823

Eliminated on disposal

-

(20,302

)

(20,302

)

At 31 December 2024

-

251,538

NET BOOK VALUE

At 31 December 2024

2,312,539

351,840

2,664,379

At 31 December 2023

2,130,713

494,117

2,624,830

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

95,942

94,486

Other debtors

19,481

14,553

115,423

109,039

7.	CURRENT ASSET INVESTMENTS

2024

2023

£

Unlisted investments

94,250

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

290,947

440,664

Taxation and social security

118,446

261,496

Other creditors

349,828

38,901

759,221

741,061

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

G Evans

Balance outstanding at start of year

3,943

3,832

Amounts advanced

34

611

Amounts repaid

(400

)

(500

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

3,577

3,943

E R Evans

Balance outstanding at start of year

120

-

Amounts advanced

-

120

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

120

10.	RELATED PARTY DISCLOSURES

The company was under the control of the directors throughout the period.

The company paid rent to the value of £NIL (2023 : £64,061) to the directors.

Dividends totalling £135,000 (2023 : £67,500) were paid to the directors during the year.