Filleted

Registration number: 12857362

Gwarffynnon Cyf

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

Gwarffynnon Cyf

Company Information

Directors

Mr David Jones Davies Mrs Gwen Davies Miss Elliw Mair Dafydd Mr Aron Tudur Dafydd

Registered office

Llys Deri Parc Pensarn Carmarthen SA31 2NF

Gwarffynnon Cyf

(Registration number: 12857362)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	93,675	85,227
Current assets
Stocks	6	3,136	2,987
Debtors	7	7,658	7,985
Cash at bank and in hand		33,595	31,770
		44,389	42,742
Creditors: Amounts falling due within one year	8	(64,098)	(84,216)
Net current liabilities		(19,709)	(41,474)
Total assets less current liabilities		73,966	43,753
Creditors: Amounts falling due after more than one year	8	(3,547)	(1,715)
Net assets		70,419	42,038
Capital and reserves
Profit and loss account		70,419	42,038
Total equity		70,419	42,038

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.

Gwarffynnon Cyf

(Registration number: 12857362)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:
 

......................................... Mr David Jones Davies Director ......................................... Mr Aron Tudur Dafydd Director

......................................... Mrs Gwen Davies Director

......................................... Miss Elliw Mair Dafydd Director

Gwarffynnon Cyf

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 United Kingdom.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the Board on 15 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.

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	10% Reducing balance

Gwarffynnon Cyf

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

Shop fixture & fittings

10% Reducing balance

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.

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.

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.

Gwarffynnon Cyf

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	9,437	9,464

5	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2024	29,025	89,797	118,822
Additions	385	17,500	17,885
At 31 March 2025	29,410	107,297	136,707
Depreciation
At 1 April 2024	6,588	27,007	33,595
Charge for the year	2,202	7,235	9,437
At 31 March 2025	8,790	34,242	43,032
Carrying amount
At 31 March 2025	20,620	73,055	93,675
At 31 March 2024	22,437	62,790	85,227

6

Stocks

	2025 £	2024 £
Other inventories	3,136	2,987

7

Debtors

	2025 £	2024 £
Trade debtors	6,921	7,985
Prepayments	174	-
Other debtors	563	-
	7,658	7,985

Gwarffynnon Cyf

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
Trade creditors		5,927	7,781
Taxation and social security		-	6,942
Directors' loan accounts	11	57,561	68,097
Other creditors		610	1,396
		64,098	84,216