J. Lloyd a'i Fab Cyf 31/12/2024 iXBRL

Company registration number: 04132775

J. Lloyd a'i Fab Cyf

Unaudited filleted financial statements

31 December 2024

J. Lloyd a'i Fab Cyf

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

J. Lloyd a'i Fab Cyf

Directors and other information


	Directors	Mr S E Lloyd
		Mrs E M Lloyd
		Mr J R Lloyd


	Secretary	Mrs E M Lloyd


	Company number	04132775


	Registered office	Yr Efail
		Bryn Saith Marchog
		Corwen
		Denbighshire
		LL21 9SA


	Accountants	Hill & Roberts
		1 Tan y Castell
		RUTHIN
		Denbighshire
		LL15 1DQ

J. Lloyd a'i Fab Cyf

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	118,613		127,862
		_______		_______
			118,613		127,862

Current assets
Stocks		386,659		422,578
Debtors	6	878,219		917,364
Cash at bank and in hand		232,201		-
		_______		_______
		1,497,079		1,339,942
Creditors: amounts falling due
within one year	7	( 883,705)		( 704,850)
		_______		_______
Net current assets			613,374		635,092
			_______		_______
Total assets less current liabilities			731,987		762,954


Provisions for liabilities			( 17,547)		( 19,171)

			_______		_______
Net assets			714,440		743,783
			_______		_______

Capital and reserves
Called up share capital			750		750
Profit and loss account			713,690		743,033
			_______		_______
Shareholders funds			714,440		743,783
			_______		_______

For the year ending 31 December 2024 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.

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 income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 29 December 2025 , and are signed on behalf of the board by:

Mr S E Lloyd

Director

Company registration number: 04132775

J. Lloyd a'i Fab Cyf

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is J. Lloyd a'i fab Cyf, Yr Efail, Bryn Saith Marchog, Corwen, Denbighshire, LL21 9SA.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:


Short leasehold property	-	4 %	straight line
Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	33 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. 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 are 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 stocks to their 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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

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 in finance costs 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 21 (2023: 22 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	77,352	312,014	50,616	52,200	492,182
Additions	-	-	-	9,720	9,720
	_______	_______	_______	_______	_______
At 31 December 2024	77,352	312,014	50,616	61,920	501,902
	_______	_______	_______	_______	_______
Depreciation
At 1 January 2024	28,076	247,318	47,346	41,580	364,320
Charge for the year	3,095	9,710	1,079	5,085	18,969
	_______	_______	_______	_______	_______
At 31 December 2024	31,171	257,028	48,425	46,665	383,289
	_______	_______	_______	_______	_______
Carrying amount
At 31 December 2024	46,181	54,986	2,191	15,255	118,613
	_______	_______	_______	_______	_______
At 31 December 2023	49,276	64,696	3,270	10,620	127,862
	_______	_______	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	761,135	811,754
Other debtors	117,084	105,610
	_______	_______
	878,219	917,364
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	-	43,186
Trade creditors	569,850	447,625
Corporation tax	41,720	30,334
Social security and other taxes	120,647	109,301
Other creditors	151,488	74,404
	_______	_______
	883,705	704,850
	_______	_______

The overdraft of £43,186 for the previous year included within creditors: amounts falling due within one year was secured by a registered debenture in favour of Barclays Bank plc by way of a legal mortgage on all freehold property owned by the company and fixed and floating charges on all other assets of the company.

8. Other financial commitments

As at 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £241 (2023 - £1,687).

9. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr S E Lloyd	16,839	-	( 17,000)	( 161)
	Mrs E M Lloyd	16,839	-	( 17,000)	( 161)
	Mr J R Lloyd	( 8,080)	15,000	( 17,000)	( 10,080)
		_______	_______	_______	_______
		25,598	15,000	( 51,000)	( 10,402)
		_______	_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr S E Lloyd	( 3,161)	20,000	-	16,839
	Mrs E M Lloyd	( 3,161)	20,000	-	16,839
	Mr J R Lloyd	( 8,080)	-	-	( 8,080)
		_______	_______	_______	_______
		( 14,402)	40,000	-	25,598
		_______	_______	_______	_______

Any amount due to the company by a director is repayable on demand. No interest is charged on the amount owed to the company. No amounts have been written off or waived during the year.

10. Contingent liability

The Company is engaged in a contractual dispute with a customer in relation to work carried out under a services agreement. The Company has submitted a claim for outstanding amounts due for work completed. In response, the customer has lodged a counterclaim alleging defects in the work and seeking recovery of consequential losses. The counterclaim has not been supported by a quantified assessment of the alleged losses, and at the date of approval of these financial statements, the potential financial effect cannot be reliably measured. The Company has obtained legal advice indicating that it has strong grounds to defend the counterclaim. Based on the information currently available, the Directors consider that it is not probable that a material liability will arise, and therefore no provision has been recognised in accordance with Section 21 of FRS 102. The matter remains subject to ongoing legal processes, and the Directors will continue to review the position and update the disclosure as necessary should further information become available.