Plas Llanfihangel Cyf 31/01/2025 iXBRL

Company registration number: 09799015

Plas Llanfihangel Cyf

Unaudited filleted financial statements

31 January 2025

Plas Llanfihangel Cyf

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Plas Llanfihangel Cyf

Directors and other information


	Directors	Mr Huw Eurig Jones
		Mr Owen Ifan Pritchard Rowlands


	Company number	09799015


	Registered office	Hendre
		Tregaian
		Llangefni
		Anglesey
		LL77 7UG


	Accountants	WJ Matthews & Son
		11-15 Bridge Street
		Caernarfon
		Gwynedd
		LL55 1AB




	Bankers	HSBC Bank plc
		High Street
		Llangefni
		Ynys Mon
		LL77 7LU

Plas Llanfihangel Cyf

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Plas Llanfihangel Cyf

Year ended 31 January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Plas Llanfihangel Cyf for the year ended 31 January 2025 which comprise the statement of financial position and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

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

It is your duty to ensure that Plas Llanfihangel 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 profit of Plas Llanfihangel Cyf. You consider that Plas Llanfihangel 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 Plas Llanfihangel 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.

WJ Matthews & Son

Chartered Accoutants

11-15 Bridge Street

Caernarfon

Gwynedd

LL55 1AB

21 October 2025

Plas Llanfihangel Cyf

Statement of financial position

31 January 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	4	994,411		1,044,272
Investments	5	12,387		12,387
		_______		_______
			1,006,798		1,056,659

Current assets
Stocks		352,000		352,000
Debtors	6	20,851		60,509
		_______		_______
		372,851		412,509
Creditors: amounts falling due
within one year	7	( 161,711)		( 162,579)
		_______		_______
Net current assets			211,140		249,930
			_______		_______
Total assets less current liabilities			1,217,938		1,306,589

Creditors: amounts falling due
after more than one year	8		( 584,693)		( 685,736)

Provisions for liabilities	10		( 47,641)		( 52,917)

			_______		_______
Net assets			585,604		567,936
			_______		_______

Capital and reserves
Called up share capital			20		20
Profit and loss account			585,584		567,916
			_______		_______
Shareholders funds			585,604		567,936
			_______		_______

For the year ending 31 January 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.

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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 21 October 2025 , and are signed on behalf of the board by:

Mr Huw Eurig Jones

Director

Company registration number: 09799015

Plas Llanfihangel Cyf

Notes to the financial statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Plas Llanfihangel Cyf, Hendre, Tregaian, Llangefni, Anglesey, LL77 7UG.

2. Statement of compliance

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

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 company has been given guarantees by its directors in the form of assets held by their personal companies being used as security for the bank loan and overdraft. The accounts have therefore been prepared on the going concern basis.

Turnover

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 the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Long leasehold property	-	10 %	reducing balance
Plant and machinery	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

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 in finance costs in profit or loss in the period it arises.

4. Tangible assets

	Freehold property	Long leasehold property	Plant and machinery	Total
	£	£	£	£
Cost
At 1 February 2024 and 31 January 2025	617,901	289,402	570,615	1,477,918
	_______	_______	_______	_______
Depreciation
At 1 February 2024	-	150,981	282,665	433,646
Charge for the year	-	13,842	36,019	49,861
	_______	_______	_______	_______
At 31 January 2025	-	164,823	318,684	483,507
	_______	_______	_______	_______
Carrying amount
At 31 January 2025	617,901	124,579	251,931	994,411
	_______	_______	_______	_______
At 31 January 2024	617,901	138,421	287,950	1,044,272
	_______	_______	_______	_______

5. Investments

	Other investments other than loans	Total
	£	£
Cost
At 1 February 2024 and 31 January 2025	12,387	12,387
	_______	_______
Impairment
At 1 February 2024 and 31 January 2025	-	-
	_______	_______
Carrying amount
At 31 January 2025	12,387	12,387
	_______	_______
At 31 January 2024	12,387	12,387
	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	1,393	5,051
Amounts owed by group undertakings and undertakings in which the company has a participating interest	14,000	50,000
Other debtors	5,458	5,458
	_______	_______
	20,851	60,509
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	141,453	127,330
Corporation tax	15,107	23,009
Social security and other taxes	618	3,830
Other creditors	4,533	8,410
	_______	_______
	161,711	162,579
	_______	_______

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

	2025	2024
	£	£
Bank loans and overdrafts	584,693	685,736
	_______	_______

Included within creditors: amounts falling due after more than one year is an amount of £ 210,093 (2024 £ 311,136 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank loan is secured on assets held by the the company and also personal companies of the company's directors.

9. Obligations under finance leases

Company lessee

The total future minimum lease payments under finance lease agreements are as follows:

	2025	2024
	£	£
Not later than 1 year	-	7,500
	_______	_______
Present value of minimum lease payments	-	7,500
	_______	_______

10. Provisions

	Deferred tax (note 11)	Total
	£	£
At 1 February 2024	52,917	52,917
Charges against provisions	( 5,276)	( 5,276)
	_______	_______
At 31 January 2025	47,641	47,641
	_______	_______

11. Deferred tax

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

	2025	2024
	£	£
Included in provisions (note 10)	47,641	52,917
	_______	_______

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

	2025	2024
	£	£
Accelerated capital allowances	47,641	52,917
	_______	_______

12. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value
	2025	2024
	£	£
Monies received from leasing livestock	60,170	70,519
Monies received from tractor hire	7,500	-
	_______	_______

The company received monies from Plas Milk Limited for machinery hire and for the lease of livestock. Mr Huw Eurig Jones is a director and shareholder of Plas Milk Limited.

13. Controlling party

The company is controlled by the directors who equally hold the issued share capital.