Hendwr Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Hendwr Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09918597 . The registered office is Tyddyn Hendwr, Llandrillo, Corwen, Clwyd, LL21 0SN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold Improvements	5% straight line
Plant & Machinery	various rates on reducing balance

Plant & Machinery

Plant & machinery assets are stated at cost less accumulated depreciation and any provision for impairment. Depreciation is provided on a reducing balance basis to allocate the cost of the assets over their estimated useful lives, reflecting the pattern in which the assets’ economic benefits are consumed.

Given the diverse nature of plant and machinery, different useful lives are applied within this category. These lives are based on management’s best estimates, informed by historical experience and industry practice.

Change in Accounting Estimate

During the year, the company undertook a review of the expected useful lives of certain items of plant and machinery. As a result of this reassessment, the depreciation rates for those specific assets were revised to reflect their updated expected usage and remaining life. This change constitutes a change in accounting estimate under FRS 102 Section 10.15.

The revised depreciation rates have been applied prospectively from the beginning of the current financial year. There has been no impact on the brought-forward depreciation balances or prior year figures.

The effect of this change in estimate has resulted in an increase in depreciation of £6,118.29 in the current year compared to what would have been charged under the previous rates.

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Hendwr Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Tangible Assets

	Land & Property
	Leasehold Improvements	Plant & Machinery	Total
	£	£	£
Cost
As at 1 January 2024	31,087	1,188,264	1,219,351
Additions	136,149	53,513	189,662
Disposals	-	(4,031 )	(4,031 )

As at 31 December 2024	167,236	1,237,746	1,404,982

Depreciation
As at 1 January 2024	10,231	518,119	528,350
Provided during the period	1,554	68,149	69,703
Disposals	-	(3,271 )	(3,271 )

As at 31 December 2024	11,785	582,997	594,782

Net Book Value
As at 31 December 2024	155,451	654,749	810,200

As at 1 January 2024	20,856	670,145	691,001

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Hendwr Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Stocks

	2024	2023
	£	£
Stock	10,100	10,100
Work in progress	2,700	2,700

	12,800	12,800

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	86,299	17,473
Other debtors	150,021	101,736

	236,320	119,209

7. Current Asset Investments

	2024	2023
	£	£
Unlisted investments	-	1,000

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	42,883	21,553
Other creditors	6,249	222,514
Taxation and social security	-	3,386

	49,132	247,453

9. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
51 Ordinary A shares of £ 1.00 each	51	51
29 Ordinary B shares of £ 1.00 each	29	29
10 Ordinary C shares of £ 1.00 each	10	10
10 Ordinary D shares of £ 1.00 each	10	10
0 Ordinary E shares of £ 0.00 each	-	645,410

	100	645,510

Preference Shares

	2024	2023
Allotted, called up and fully paid	£	£
585,410 Preference A shares of £ 1.00 each	585,410	-
166,000 Preference B shares of £ 1.00 each	166,000	-

	751,410	-

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Hendwr Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr John Hughes	(104,988 )	106,000	-	-	1,012
Mr Phillip Hughes	(19,181 )	82,766	1,051	-	62,534

The above loan is unsecured and repayable on demand, with no amounts charged on amounts owed to the directors. For amounts owed by directors above £10,000 each, interest is charged by the company in line with official rates of interest under HMRC beneficial loan arrangements guidance.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		810,200		691,001

			810,200		691,001
CURRENT ASSETS
Stocks	5	12,800		12,800
Debtors	6	236,320		119,209
Investments	7	-		1,000
Cash at bank and in hand		158,715		328,082

		407,835		461,091
Creditors: Amounts Falling Due Within One Year	8	(49,132 )		(247,453 )

NET CURRENT ASSETS (LIABILITIES)			358,703		213,638

TOTAL ASSETS LESS CURRENT LIABILITIES			1,168,903		904,639

PROVISIONS FOR LIABILITIES
Deferred Taxation			(76,445 )		(16,375 )

NET ASSETS			1,092,458		888,264

CAPITAL AND RESERVES
Called up share capital	9		751,510		645,510
Profit and Loss Account			340,948		242,754

SHAREHOLDERS' FUNDS			1,092,458		888,264