AER CYMRU CYF


Directors	FALCONER, Brian Pugh
	ROBERTS, Edward Martin


Registered Address	Unit 10 Cookes Workshops
	Penrhyndeudraeth
	LL48 6LT


Registered Number	05271784 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or the 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 policy

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/or the 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.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

Operating leases

Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	10	-
Fixtures and fittings	10	-
Vehicles	25	-
Office Equipment	10	-

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	23		27

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 April 24	138,498	51,651	169,704	48,303	23,116	431,272
Additions	-	-	11,995	-	-	11,995
Disposals	-	-	(6,000)	-	-	(6,000)
At 31 March 25	138,498	51,651	175,699	48,303	23,116	437,267
Depreciation and impairment
At 01 April 24	37,831	27,765	126,374	28,531	16,000	236,501
Charge for year	2,771	2,389	13,185	1,979	714	21,038
On disposals	-	-	(5,400)	-	-	(5,400)
At 31 March 25	40,602	30,154	134,159	30,510	16,714	252,139
Net book value
At 31 March 25	97,896	21,497	41,540	17,793	6,402	185,128
At 31 March 24	100,667	23,886	43,330	19,772	7,116	194,771

4.	Stocks

	2025	2024
	£	£
Raw materials and consumables	215,040	221,040
Total	215,040	221,040

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	51,168	296,419
Other debtors	766,978	1,076,651
Total	818,146	1,373,070


	Other debtors include £690,084 (2024: £1,011,915) recoverable on long-term contracts.

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	238,559	743,485
Bank borrowings and overdrafts	176,143	125,082
Taxation and social security	78,363	109,496
Finance lease and HP contracts	6,020	11,360
Other creditors	195,234	316,474
Accrued liabilities and deferred income	6,719	11,307
Total	701,038	1,317,204


	Other creditors include £181,550 (2024: £264,649) advanced on debts recoverable.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	64,362	47,263
Other creditors	108,990	105,522
Total	173,352	152,785


	Other creditors include finance lease and HP contracts of £8,990 (2024: £5,522).

8.	Secured creditors
	£20,000 of the bank loan due within one year (2024: £20,000) and £5,000 of the bank loan due after more than one year (2024: £25,000) is guaranteed by HM Government under the CBILS scheme. £5,761 of the bank loan due within one year (2024: £5,082) and £16,494 of the bank loan due after more than one year (2024: £22,263) is guaranteed by one of the directors. £100,000 of the bank loan due within one year (2024: £100,000) together with the amounts advanced by debt factoring are secured by a fixed and floating charge over the assets and undertaking of the company. £50,382 of the bank loan due within one year (2024: £nil) and £42,868 of the bank loan due after one year (2024: £nil) are secured by a debenture over all the company assets and a personal guarantee from a director. Hire purchase liabilities are secured on the assets to which they relate.

Secured creditors

£20,000 of the bank loan due within one year (2024: £20,000) and £5,000 of the bank loan due after more than one year (2024: £25,000) is guaranteed by HM Government under the CBILS scheme. £5,761 of the bank loan due within one year (2024: £5,082) and £16,494 of the bank loan due after more than one year (2024: £22,263) is guaranteed by one of the directors. £100,000 of the bank loan due within one year (2024: £100,000) together with the amounts advanced by debt factoring are secured by a fixed and floating charge over the assets and undertaking of the company. £50,382 of the bank loan due within one year (2024: £nil) and £42,868 of the bank loan due after one year (2024: £nil) are secured by a debenture over all the company assets and a personal guarantee from a director.

Hire purchase liabilities are secured on the assets to which they relate.

9.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	15,009		16,882

10.	Provisions for liabilities
	The provision for deferred tax is made up of accelerated capital allowances and trading losses.

	2025	2024
	£	£
Net deferred tax liability (asset)	-	22,000
Total	-	22,000

11.	Operating lease commitments
	At 31 March 2025 the company had future minimum lease payments under non-cancellable operating leases of £11,612 (2024: £30,939).

12.	Related party transactions
	During the year a director had a loan account with the company. At the balance sheet date, the company owed the director £116,256, of which £100,000 is shown as payable after more than one year (2024: £151,829 - £100,000 payable after more than one year), This loan is unsecured, interest free and repayable upon demand

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		185,128		194,771
			185,128		194,771
Current assets
Stocks	4	215,040		221,040
Debtors	5	818,146		1,373,070
Cash at bank and on hand		27,749		6,169
		1,060,935		1,600,279
Creditors amounts falling due within one year	6	(701,038)		(1,317,204)
Net current assets (liabilities)			359,897		283,075
Total assets less current liabilities			545,025		477,846
Creditors amounts falling due after one year	7		(173,352)		(152,785)
Provisions for liabilities	10		-		(22,000)
Net assets			371,673		303,061
Capital and reserves
Called up share capital			3		3
Profit and loss account			371,670		303,058
Shareholders' funds			371,673		303,061