COMPANY REGISTRATION NUMBER:
04729424
|
Filleted Unaudited Financial Statements |
|
Year ended 30 September 2025
|
Officers and professional advisers |
1 |
|
|
|
Statement of financial position |
2 |
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|
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Notes to the financial statements |
3 |
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Statement of Financial Position |
|
30 September 2025
FIXED ASSETS
|
Investments |
5 |
455,467 |
455,467 |
|
|
|
|
CURRENT ASSETS
|
Debtors |
6 |
1,110,105 |
1,114,175 |
|
Cash at bank and in hand |
– |
4,394 |
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------------ |
------------ |
|
1,110,105 |
1,118,569 |
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
46,777 |
12,193 |
|
------------ |
------------ |
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NET CURRENT ASSETS |
1,063,328 |
1,106,376 |
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------------ |
------------ |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
1,518,795 |
1,561,843 |
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------------ |
------------ |
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|
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CAPITAL AND RESERVES
|
Called up share capital |
8 |
4 |
4 |
|
Profit and loss account |
1,518,791 |
1,561,839 |
|
------------ |
------------ |
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SHAREHOLDERS FUNDS |
1,518,795 |
1,561,843 |
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------------ |
------------ |
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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 30 September 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
9 April 2026
, and are signed on behalf of the board by:
Mr D M Howells
Mr D M Howells
Director
Company registration number:
04729424
|
Notes to the Financial Statements |
|
Year ended 30 September 2025
1.
GENERAL INFORMATION
Clydfan Limited
is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities is that of property rental.
2.
STATEMENT OF COMPLIANCE
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 30 September 2025. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The directors have considered the future trading position of the company and are confident that the going concern principle can be applied to the financial statements.
Consolidation
The parent company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by s398 of the Companies Act 2006 not to prepare group accounts.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Leases
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Judgements and key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next financial year are addressed below. (i) Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. (ii) Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. (iii) Provisions Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes. (iv) Going Concern The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Rental income Income from rentals is recognised in accordance with the terms of the relevant lease. Interest and dividends receivable Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
4.
EMPLOYEE NUMBERS
The average number of employees, including directors, during the year was 4 (2024: 4)
5.
INVESTMENTS
|
Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 October 2024 and 30 September 2025 |
455,467 |
|
--------- |
|
Impairment |
|
|
At 1 October 2024 and 30 September 2025 |
– |
|
--------- |
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|
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Carrying amount |
|
|
At 30 September 2025 |
455,467 |
|
--------- |
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At 30 September 2024 |
455,467 |
|
--------- |
|
|
6.
DEBTORS
|
2025 |
2024 |
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
1,110,105 |
1,114,175 |
|
------------ |
------------ |
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|
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7.
CREDITORS:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Corporation tax |
– |
6,509 |
|
Social security and other taxes |
– |
5,684 |
|
Other creditors |
46,777 |
– |
|
-------- |
-------- |
|
46,777 |
12,193 |
|
-------- |
-------- |
|
|
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8.
CALLED UP SHARE CAPITAL
Issued, called up and fully paid
|
2025 |
2024 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 0.01 (2024 - £ 1) each |
200 |
2 |
2 |
2 |
|
B Ordinary shares of £ 0.01 (2024 - £ 1) each |
100 |
1 |
1 |
1 |
|
C Ordinary shares of £ 0.01 (2024 - £ 1) each |
100 |
1 |
1 |
1 |
|
---- |
---- |
---- |
---- |
|
400 |
4 |
4 |
4 |
|
---- |
---- |
---- |
---- |
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On the 29th October 2024 the shares were subdivided as follows; 200 1p Ordinary shares, 100 1p Ordinary 'B' Shares and 100 1p Ordinary 'C' Shares.
9.
RELATED PARTY TRANSACTIONS
The aggregated balances for the year ended 30 September 2025 are as follows: Key Management Personnel
|
|
2025 |
2024 |
|
|
£ |
£ |
|
Amounts owed (to) Key Management Personnel |
(46,777) |
– |
|
|
|
|
No interest was charged on this balance. Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies.