Dyfed Gas Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13974216

Dyfed Gas Limited

Filleted Unaudited Financial Statements

30 March 2025

Dyfed Gas Limited

Financial Statements

Year ended 30 March 2025

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 7

Dyfed Gas Limited

Statement of Financial Position

30 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	191,396	152,439

Current assets

Debtors	7	45,103	41,297
Cash at bank and in hand		64,185	69,683
		---------	---------
		109,288	110,980

Creditors: amounts falling due within one year	8	( 64,725)	( 72,788)
		---------	---------
Net current assets		44,563	38,192
		---------	---------
Total assets less current liabilities		235,959	190,631

Creditors: amounts falling due after more than one year	9	( 126,148)	( 128,487)

Provisions	10	( 21,122)	( 11,840)
		---------	---------
Net assets		88,689	50,304
		---------	---------

Capital and reserves

Called up share capital	12	1	1
Profit and loss account		88,688	50,303
		--------	--------
Shareholders funds		88,689	50,304
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Dyfed Gas Limited

Statement of Financial Position (continued)

30 March 2025

These financial statements were approved by the board of directors and authorised for issue on 8 October 2025 , and are signed on behalf of the board by:

Mr R.T Maiden

Director

Company registration number: 13974216

Dyfed Gas Limited

Notes to the Financial Statements

Year ended 30 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 54 Charles Thomas Avenue, Pembroke Dock, Pembrokeshire, SA72 6UR.

2. Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Gas bulk tanks	-	30 years on a straight line basis
Plant and machinery	-	25% reducing balance
Container	-	10% reducing balance
Motor vehicles	-	25% reducing balance
Gas cylinders	-	7 % straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 3 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Deferred tax:

Origination and reversal of timing differences	9,282	7,326
	-------	-------
Tax on profit	9,282	7,326
	-------	-------

6. Tangible assets

	Gas bulk tanks	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Gas cylinders	Total
	£	£	£	£	£	£
Cost
At 31 Mar 2024	–	36,111	7,460	39,795	105,943	189,309
Additions	34,315	16,720	–	18,925	–	69,960
	--------	--------	-------	--------	---------	---------
At 30 Mar 2025	34,315	52,831	7,460	58,720	105,943	259,269
	--------	--------	-------	--------	---------	---------
Depreciation
At 31 Mar 2024	–	11,278	821	13,379	11,392	36,870
Charge for the year	1,144	10,388	720	11,335	7,416	31,003
	--------	--------	-------	--------	---------	---------
At 30 Mar 2025	1,144	21,666	1,541	24,714	18,808	67,873
	--------	--------	-------	--------	---------	---------
Carrying amount
At 30 Mar 2025	33,171	31,165	5,919	34,006	87,135	191,396
	--------	--------	-------	--------	---------	---------
At 30 Mar 2024	–	24,833	6,639	26,416	94,551	152,439
	--------	--------	-------	--------	---------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	45,103	39,416
Other debtors	–	1,881
	--------	--------
	45,103	41,297
	--------	--------

Other debtors include an amount of £nil (2024 - £nil) falling due after more than one year.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	15,617	20,036
Trade creditors	13,005	25,715
Social security and other taxes	9,247	4,387
Obligations under finance leases and hire purchase contracts	10,177	6,215
Other creditors	16,679	16,435
	--------	--------
	64,725	72,788
	--------	--------

Dbw Investments (10) Limited hold a fixed and floating charge over the property and undertaking of the company.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	44,603	55,800
Obligations under finance leases and hire purchase contracts	26,739	17,881
Other creditors	54,806	54,806
	---------	---------
	126,148	128,487
	---------	---------

10. Provisions

	Deferred tax (note 11)
	£
At 31 March 2024	11,840
Additions	9,282
	--------
At 30 March 2025	21,122
	--------

11. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 10)	21,122	11,840
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	21,122	11,840
	--------	--------

12. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

13. Related party transactions

The company was under the control of Mr R.T Maiden throughout the current year and prior period by virtue of his 100% shareholding. During the year the company paid dividends totalling £500 (2024 - £1,000) to Mr R.T Maiden .