REGISTERED NUMBER: 10670795 (Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Milfeddygon Deufor Cyf

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K Williams

Mr G W Jones

REGISTERED OFFICE:

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

REGISTERED NUMBER:

10670795 (Wales)

ACCOUNTANTS:

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

FIXED ASSETS

Intangible assets

4

297,491

446,237

Tangible assets

5

538,163

529,952

835,654

976,189

CURRENT ASSETS

Stocks

39,456

40,444

Debtors

6

923,014

766,447

Investments

7

5,424,423

4,374,260

Cash at bank

248,294

214,408

6,635,187

5,395,559

CREDITORS

Amounts falling due within one year

8

974,214

930,927

NET CURRENT ASSETS

5,660,973

4,464,632

TOTAL ASSETS LESS CURRENT LIABILITIES

6,496,627

5,440,821

PROVISIONS FOR LIABILITIES

8,384

7,768

NET ASSETS

6,488,243

5,433,053

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,488,143

5,432,953

SHAREHOLDERS' FUNDS

6,488,243

5,433,053

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

Mr K Williams - Director

Mr G W Jones - Director

1.	STATUTORY INFORMATION

Milfeddygon Deufor Cyf is a private company, limited by shares , registered in Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

20% on reducing balance

Stocks

Stocks 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 Income Statement, 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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

1,487,457

AMORTISATION

At 1 April 2024

1,041,220

Charge for year

148,746

At 31 March 2025

1,189,966

NET BOOK VALUE

At 31 March 2025

297,491

At 31 March 2024

446,237

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

504,004

204,977

708,981

Additions

-

36,912

36,912

At 31 March 2025

504,004

241,889

745,893

DEPRECIATION

At 1 April 2024

30,240

148,789

179,029

Charge for year

10,080

18,621

28,701

At 31 March 2025

40,320

167,410

207,730

NET BOOK VALUE

At 31 March 2025

463,684

74,479

538,163

At 31 March 2024

473,764

56,188

529,952

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

691,624

604,060

Other debtors

231,390

162,387

923,014

766,447

7.	CURRENT ASSET INVESTMENTS

31.3.25

31.3.24

£

£

Other

5,424,423

4,374,260

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

455,741

426,615

Taxation and social security

501,905

488,623

Other creditors

16,568

15,689

974,214

930,927

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

Mr K Williams

Balance outstanding at start of year

63,431

39,487

Amounts advanced

64,549

63,804

Amounts repaid

(37,610

)

(39,860

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

90,370

63,431

Mr G W Jones

Balance outstanding at start of year

58,423

36,715

Amounts advanced

64,414

63,720

Amounts repaid

(39,762

)

(42,012

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

83,075

58,423

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £58,000 (2024 - £62,500) were paid to the directors .

The directors' loan account balances at the year end are as per note 10 above and interest has been charged at 2.25% (2024: 2.25%).