Gwynedd Mobile Milling Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08991692

Gwynedd Mobile Milling Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Gwynedd Mobile Milling Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		203,097	255,502

Current assets

Stocks		23,400	22,250
Debtors	6	5,614	1,186
Cash at bank and in hand		14,254	2,791
		--------	--------
		43,268	26,227

Creditors: amounts falling due within one year	7	80,220		72,268
		--------		--------
Net current liabilities			36,952	46,041
			---------	---------
Total assets less current liabilities			166,145	209,461

Creditors: amounts falling due after more than one year	8	146,606	204,998
		---------	---------
Net assets		19,539	4,463
		---------	---------

Capital and reserves

Called up share capital	6	6
Profit and loss account	19,533	4,457
	--------	-------
Shareholders funds	19,539	4,463
	--------	-------

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.

For the year ending 31 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 .

Gwynedd Mobile Milling Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 17 December 2025 , and are signed on behalf of the board by:

Mr G E Williams

Director

Company registration number: 08991692

Gwynedd Mobile Milling Limited

Notes to the Financial Statements

Year ended 31 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 Gwrach Ynys, Talsarnau, Gwynedd, LL47 6TS.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Plant and machinery	-	20% straight line
Motor vehicles	-	25% straight line
Equipment	-	20% 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.

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 stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 2 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	165,747	362,017	700	607	529,071
Additions	–	1,140	–	–	1,140
	---------	---------	----	----	---------
At 31 March 2025	165,747	363,157	700	607	530,211
	---------	---------	----	----	---------
Depreciation
At 1 April 2024	–	272,680	525	364	273,569
Charge for the year	–	53,249	175	121	53,545
	---------	---------	----	----	---------
At 31 March 2025	–	325,929	700	485	327,114
	---------	---------	----	----	---------
Carrying amount
At 31 March 2025	165,747	37,228	–	122	203,097
	---------	---------	----	----	---------
At 31 March 2024	165,747	89,337	175	243	255,502
	---------	---------	----	----	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	5,614	1,060
Other debtors	–	126
	-------	-------
	5,614	1,186
	-------	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	10,050	4,421
Social security and other taxes	4,813	1,819
Other creditors	65,357	66,028
	--------	--------
	80,220	72,268
	--------	--------

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

	2025	2024
	£	£
Other creditors	146,606	204,998
	---------	---------

9. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2025	2024
	£	£

Recognised in creditors:

Deferred government grants due within one year	2,740	43,520
Deferred government grants due after more than one year	–	2,740
	-------	--------
	2,740	46,260
	-------	--------

Recognised in other operating income:

Government grants recognised directly in income	43,520	43,520
	--------	--------

A grant from the Coastal Communities Fund was used to buy equipment which is shown in plant and machinery. The grant will be amortised over a period of five years matching the depreciation method.

10. Directors' advances, credits and guarantees

There were no director's advances, credits or guarantees during the year.

11. Related party transactions

The company has a balance outstanding of £61,317 (2024: £21,208) as at 31 March 2025 owed to Geraint Williams Construction Limited, a company in which the director has a controlling interest. The loan is included within other creditors and is interest free and repayable on demand.