Gwendraeth Valley Tarmacadam Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14102329

Gwendraeth Valley Tarmacadam Limited

Filleted Unaudited Financial Statements

31 August 2025

Gwendraeth Valley Tarmacadam Limited

Financial Statements

Year ended 31 August 2025

CONTENTS	PAGE

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

Gwendraeth Valley Tarmacadam Limited

Officers and Professional Advisers

The board of directors	Mrs R Thomas
	Mr T W Rees
	Mr E C Rees

Registered office	Cae Canfas Farm
	Pontyates
	Llanelli
	Carmarthenshire
	United Kingdom
	SA15 5UF

Accountants	James & Uzzell Ltd
	Chartered Certified Accountants
	Axis 15, Axis Court
	Mallard Way
	Riverside Business Park
	Swansea
	SA7 0AJ

Gwendraeth Valley Tarmacadam Limited

Statement of Financial Position

31 August 2025

	2025	2024
Note	£	£

CURRENT ASSETS

Stocks	6	43,150	135,150
Debtors	7	1,165,549	1,216,857
Cash at bank and in hand		357,523	24,034
		------------	------------
		1,566,222	1,376,041

CREDITORS: amounts falling due within one year	8	1,147,269	940,265
		------------	------------
NET CURRENT ASSETS		418,953	435,776
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		418,953	435,776
		---------	---------
NET ASSETS		418,953	435,776
		---------	---------

CAPITAL AND RESERVES

Called up share capital	9	3	3
Profit and loss account		418,950	435,773
		---------	---------
SHAREHOLDERS FUNDS		418,953	435,776
		---------	---------

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 31 August 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 21 May 2026 , and are signed on behalf of the board by:

Rhian Thomas

Director

Company registration number: 14102329

Gwendraeth Valley Tarmacadam Limited

Notes to the Financial Statements

Year ended 31 August 2025

1. GENERAL INFORMATION

Gwendraeth Valley Tarmacadam 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 are construction of highways and ground infrastructure.

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 31 August 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.

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.

Exceptional item

Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.

Going concern

The director has considered the future trading position of the company and is confident that the going concern principle can be applied to the financial statements.

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.

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.

Critical accounting estimates and assumptions

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 assets and liabilities within the next financial year are addressed below

(i) 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. See note for the net carrying amount of the debtors and associated impairment provision.

(ii) Accounting for construction contracts

Recognition of turnover and profit is based on judgements made in respect of the ultimate profitability of a contract. Such judgements are arrived at through the use of estimates in relation to costs and value of work performed to date and to be performed in bringing contracts to completion, including satisfaction of maintenance responsibilities. These estimates are made by reference to recovery of pre-contract costs, surveys of progress against the construction programme, changes in work scope, the contractual terms under which the work is being performed including the recoverability of any unagreed income from variations on the likely outcome of discussions on claims, costs incurred and external certification of the work performed. The company has the appropriate control procedures to ensure all estimates are determined on a consistent basis and subject to appropriate review and authorisation.

(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

(v) Stock provisioning

The company constructs roads and motorways and is subject to consumer demands. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability

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.

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: Rendering of services Turnover from construction of highways and ground infrastructure is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. Construction contracts When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable. When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision. Interest receivable Interest income is recognised using the effective interest method

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.

Stocks

Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 12 (2024: 12 ).

5. EXCEPTIONAL ITEMS

The exceptional item during the year relates to compensation for an accident.

6. STOCKS

	2025	2024
	£	£
Raw materials and consumables	3,150	3,150
Work in progress	40,000	132,000
	--------	---------
	43,150	135,150
	--------	---------

7. DEBTORS

	2025	2024
	£	£
Trade debtors	980,556	680,812
Amounts owed by group undertakings and undertakings in which the company has a participating interest	135,463	405,466
Other debtors	49,530	130,579
	------------	------------
	1,165,549	1,216,857
	------------	------------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	90,312
Trade creditors	898,517	613,554
Amounts owed to group undertakings and undertakings in which the company has a participating interest	135,300	–
Corporation tax	36,474	50,766
Social security and other taxes	16,495	7,690
Other creditors	60,483	177,943
	------------	---------
	1,147,269	940,265
	------------	---------

The company has a bank overdraft which is secured over group company guarantee. The aggregate of secured liabilities falling due within one year is £Nil (2024:£90,312)

9. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	3	3	3	3
	----	----	----	----

10. RELATED PARTY TRANSACTIONS

Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies

11. PARENT UNDERTAKINGS

The ultimate parent company is GVT Holdings Ltd, a company registered in Great Britain. The registered office of GVT Holdings Ltd is Cae Canfas Farm, Pontyates, Llanelli, United Kingdom, SA15 5UF