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Registration number: 08774351

The Daffodil Ceredigion Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 10

The Daffodil Ceredigion Limited

Company Information

Directors

Mr H W T Matthews Mr A J H Matthews Mrs G E Matthews

Registered office

The Daffodil Inn Penrhiwllan Llandysul SA44 5NG

The Daffodil Ceredigion Limited

(Registration number: 08774351)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	476,895	501,863
Current assets
Stocks	6	3,866	2,833
Debtors	7	19,052	28,517
Cash at bank and in hand		18,736	64,127
		41,654	95,477
Creditors: Amounts falling due within one year	8	(180,001)	(154,790)
Net current liabilities		(138,347)	(59,313)
Total assets less current liabilities		338,548	442,550
Creditors: Amounts falling due after more than one year	8	(270,186)	(305,193)
Provisions for liabilities		(22,156)	(27,272)
Net assets		46,206	110,085
Capital and reserves
Called up share capital		100	100
Profit and loss account		46,106	109,985
Total equity		46,206	110,085

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The Daffodil Ceredigion Limited

(Registration number: 08774351)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 20 December 2025 and signed on its behalf by:
 

......................................... Mr H W T Matthews Director

The Daffodil Ceredigion Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Daffodil Inn
Penrhiwllan
Llandysul
SA44 5NG

These financial statements were authorised for issue by the Board on 20 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The Daffodil Ceredigion Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% Straight line basis
Furniture and fittings	20% Straight line basis
Land and buildings	1% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

The Daffodil Ceredigion Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2024 - 33).

The Daffodil Ceredigion Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4	Loss/profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	26,593	31,404

5	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	431,954	1,690	250,955	3,944	688,543
Additions	-	-	-	1,624	1,624
At 31 March 2025	431,954	1,690	250,955	5,568	690,167
Depreciation
At 1 April 2024	41,223	284	143,394	1,779	186,680
Charge for the year	4,122	281	21,512	677	26,592
At 31 March 2025	45,345	565	164,906	2,456	213,272
Carrying amount
At 31 March 2025	386,609	1,125	86,049	3,112	476,895
At 31 March 2024	390,731	1,406	107,561	2,165	501,863

Included within the net book value of land and buildings above is £386,609 (2024 - £390,731) in respect of freehold land and buildings.
 

6

Stocks

	2025 £	2024 £
Other inventories	3,866	2,833

7

Debtors

	Note	2025 £	2024 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	11	19,052	28,517
		19,052	28,517

The Daffodil Ceredigion Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	10	32,811	30,615
Trade creditors		10,871	16,267
Taxation and social security		20,368	18,216
Directors' loan accounts	11	50,227	24,389
Outstanding defined contribution pension costs		43,393	32,668
Corporation tax liability		8,165	22,635
Other creditors		14,166	10,000
		180,001	154,790