REGISTERED NUMBER: 04135141 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Cwmni Gwynant Cyf.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mrs E Evans

Mrs H M Jones

Ms N Powell

Mrs B Roberts

Mrs G Roberts

Mrs I Till

Mr J Williams

Miss E Powell

Mrs E M Jones

Mr A M Owen

SECRETARY:

Ms N Powell

REGISTERED OFFICE:

Capel Bethania

Nant Gwynant

Caernarfon

Gwynedd

LL55 4NQ

REGISTERED NUMBER:

04135141 (England and Wales)

ACCOUNTANTS:

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

FIXED ASSETS

Tangible assets

4

215,841

223,805

CURRENT ASSETS

Debtors

5

384

624

Cash at bank

19,747

9,626

20,131

10,250

CREDITORS

Amounts falling due within one year

6

20,053

10,004

NET CURRENT ASSETS

78

246

TOTAL ASSETS LESS CURRENT LIABILITIES

215,919

224,051

CREDITORS

Amounts falling due after more than one year

7

(198,129

)

(172,064

)

PROVISIONS FOR LIABILITIES

(1,145

)

(1,278

)

NET ASSETS

16,645

50,709

RESERVES

Income and expenditure account

16,645

50,709

16,645

50,709

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 surplus or deficit 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 9 October 2025 and were signed on its behalf by:

Mrs H M Jones - Director

1.	STATUTORY INFORMATION

Cwmni Gwynant 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 as modified by the revaluation of certain assets.

The directors have considered the basis for the preparation of the financial statements and conclude that there are currently no going concern issues. Therefore, the financial statements have been prepared on the assumption that the company is able to carry on its business as a going concern for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company is not registered for value added tax; therefore turnover represents net invoiced sales of services.

Tangible fixed assets

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

Land and buildings

-

5% on cost and 2% on cost

Plant and machinery etc

-

20% on reducing balance

Capital assets with a cost in excess of £300 and an expected useful life of more than one year are capitalised onto the balance sheet.

Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment

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.

Deferred grants

The company is in receipt of grants towards the re-development of the Capel Bethania. The grants are amortised at the same rate as the assets to which they relate are depreciated. The current policy regarding these assets is that they are depreciated at a rate of 2% on cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2024

and 31 January 2025

369,668

15,225

384,893

DEPRECIATION

At 1 February 2024

147,489

13,599

161,088

Charge for year

7,639

325

7,964

At 31 January 2025

155,128

13,924

169,052

NET BOOK VALUE

At 31 January 2025

214,540

1,301

215,841

At 31 January 2024

222,179

1,626

223,805

Following the transition to FRS102, the freehold and the improvements thereto have been accounted for under property, plant & equipment rather than as investment property. This policy is based on section 16.3A of FRS102. With this stating that "property held primarily for the provision of social benefits...shall not be classified as investment property".

The directors are therefore of the opinion that the company's main aims, as stated in their governing documents, provides a suitable level of social benefits for the above-mentioned FRS102 provision to apply.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

384

624

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

2,636

-

Payments on account

1,000

1,000

Trade creditors

305

705

Other creditors

16,112

8,299

20,053

10,004

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Other creditors

198,129

172,064

The other creditor balances, shown in both notes 7 & 8, include an amount totalling £172,064 (2024: £178,302). This represents the amount of capital grant funding received for the renovation and improvement of the chapel and the houses. The accounting policy governing this balance is detailed in note one of these financial statements and the amortisation due within 1 year has been included under note 7.

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Bank loans

2,636

-

The company has provided the following security to the DBW Investments (10) Limited:

Charge date: 13 May 2024

Number: 2

Type: Legal mortgage

Amount secured:

All other freehold and leasehold property now or in the future belonging to the company together with all buildings, trade and other fixtures, fixed plant and machinery of the company from time to time on such property and;. All patents, copyrights, marks, service marks, designs and other intellectual property rights (including without limitation business names, know-how, formulae, inventions, confidential information, trade secrets, computer software, programs and systems), claims and all fees, royalties and other rights of every kind deriving from such intellectual property now or in the future belonging to the company.

9.	RELATED PARTY DISCLOSURES

There were no transactions to mention during the two years ending in January 2025.

10.	ULTIMATE CONTROLLING PARTY

The company directors, whom are considered to be members of the company, are deemed to be the company's ultimate controlling parties.

Additionally each members' liability, should the company be wound up, is restricted to a sum not exceeding one pound.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cwmni Gwynant Cyf. for the year ended 31 January 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Cwmni Gwynant Cyf., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cwmni Gwynant Cyf. and state those matters that we have agreed to state to the Board of Directors of Cwmni Gwynant Cyf., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cwmni Gwynant Cyf. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cwmni Gwynant Cyf. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cwmni Gwynant Cyf.. You consider that Cwmni Gwynant Cyf. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cwmni Gwynant Cyf.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

Date: .............................................