Powell Developments (Trefeglwys) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02997419 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Powell Developments (Trefeglwys) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C W Powell

Mrs M J Powell

SECRETARY:

Mrs M J Powell

REGISTERED OFFICE:

Cross Chambers

9 High Street

Newtown

Powys

SY16 2NY

REGISTERED NUMBER:

02997419 (England and Wales)

ACCOUNTANTS:

Morgan Griffiths LLP

Chartered Accountants

Cross Chambers

9 High Street

Newtown

Powys

SY16 2NY

FIXED ASSETS

Tangible assets

5

744,279

799,245

CURRENT ASSETS

Stocks

2,035,209

1,789,326

Debtors

6

592,919

473,671

Cash at bank

26,708

454,440

2,654,836

2,717,437

CREDITORS

Amounts falling due within one year

7

83,842

133,408

NET CURRENT ASSETS

2,570,994

2,584,029

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,315,273

3,383,274

CREDITORS

Amounts falling due after more than one
year

8

(11,624

)

(7,500

)

PROVISIONS FOR LIABILITIES

(106,328

)

(124,109

)

NET ASSETS

3,197,321

3,251,665

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

3,197,221

3,251,565

SHAREHOLDERS' FUNDS

3,197,321

3,251,665

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2025 and were signed on its behalf by:

C W Powell - Director

1.	STATUTORY INFORMATION

Powell Developments (Trefeglwys) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Changes in accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover

Turnover represents work done, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and 10% on reducing balance

Stocks

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 items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

302,750

891,583

1,194,333

Additions

-

15,000

At 31 December 2024

302,750

906,583

1,209,333

DEPRECIATION

At 1 January 2024

-

395,088

Charge for year

-

69,966

At 31 December 2024

-

465,054

NET BOOK VALUE

At 31 December 2024

302,750

441,529

744,279

At 31 December 2023

302,750

496,495

799,245

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

247,607

Transfer to ownership

(142,557

)

At 31 December 2024

105,050

DEPRECIATION

At 1 January 2024

92,366

Charge for year

14,455

Transfer to ownership

(38,633

)

At 31 December 2024

68,188

NET BOOK VALUE

At 31 December 2024

36,862

At 31 December 2023

155,241

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

225,000

103,042

Other debtors

367,919

370,629

592,919

473,671

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

9,971

31,566

Hire purchase contracts

7,500

13,333

Trade creditors

49,436

2,325

Taxation and social security

7,888

76,389

Other creditors

9,047

9,795

83,842

133,408

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

11,624

-

Hire purchase contracts

-

7,500

11,624

7,500

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

21,595

31,566

The bank loans and overdraft are secured with a fixed charge over land and building adjoining Llwyn Celyn and Upper Rhosymaen.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.12.24

31.12.23

£

C W Powell and Mrs M J Powell

Balance outstanding at start of year

74,421

9,937

Amounts advanced

323,236

84,676

Amounts repaid

(342,862

)

(20,192

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

54,795

74,421

The directors have given a personal guarantee of £20,000 to HSBC Bank Plc, to secure bank finances of Powell Developments ( Trefeglwys ) Ltd.

The directors loan account was overdrawn at the balance sheet date by £54795 (2023 £74421 overdrawn).This was repaid in full by 31 March 2025 (2023 balance repaid by 29 August 2024).

11.	RELATED PARTY DISCLOSURES

Mr C W Powell and Mrs M J Powell are the directors and shareholders of the company.