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Registration number: 13309475

Hafodneddyn Feeds Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2026

Hafodneddyn Feeds Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 7

Hafodneddyn Feeds Ltd

Company Information

Directors | Mr D H Royal Mr C H Royal Mrs Y J Royal

Company secretary | Mr D H Royal

Registered office | Llys Deri Parc Pensarn Carmarthen SA31 2NF

Hafodneddyn Feeds Ltd

(Registration number: 13309475)
Balance Sheet as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 5 | 204,493 | 141,692
Current assets |  |  |
Stocks | 6 | 126,311 | 130,166
Debtors | 7 | 63,344 | 47,439
Cash at bank and in hand |  | 71,957 | 105,191
|  | 261,612 | 282,796
Creditors: Amounts falling due within one year | 8 | (237,761) | (215,860)
Net current assets |  | 23,851 | 66,936
Net assets |  | 228,344 | 208,628
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Profit and loss account |  | 228,244 | 208,528
Total equity |  | 228,344 | 208,628

For the financial year ending 31 March 2026 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.

Approved and authorised by the Board on 15 July 2026 and signed on its behalf by:

......................................... Mr D H Royal Company secretary and director | ......................................... Mr C H Royal Director | ......................................... Mrs Y J Royal Director

Hafodneddyn Feeds Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

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 July 2026.

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.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Hafodneddyn Feeds Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

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 basis
Motor vehicles | 20% reducing balance basis

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Hafodneddyn Feeds Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2025 - 3).

4 | Profit before tax

Arrived at after charging/(crediting)

| 2026 £ | 2025 £
Depreciation expense | 14,028 | 8,638

5 | Tangible assets

| Land and buildings £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2025 | 33,624 | 127,518 | - | 161,142
Additions | - | 73,329 | 3,500 | 76,829
At 31 March 2026 | 33,624 | 200,847 | 3,500 | 237,971
Depreciation
At 1 April 2025 | - | 19,450 | - | 19,450
Charge for the year | - | 13,678 | 350 | 14,028
At 31 March 2026 | - | 33,128 | 350 | 33,478
Carrying amount
At 31 March 2026 | 33,624 | 167,719 | 3,150 | 204,493
At 31 March 2025 | 33,624 | 108,068 | - | 141,692

Included within the net book value of land and buildings above is £33,624 (2025 - £33,624) in respect of freehold land and buildings.

Hafodneddyn Feeds Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

6 | Stocks

| 2026 £ | 2025 £
Other inventories | 126,311 | 130,166

7 | Debtors

| 2026 £ | 2025 £
Trade debtors | 17,760 | 22,666
Prepayments | 16,050 | -
Other debtors | 29,534 | 24,773
| 63,344 | 47,439

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2026 £ | 2025 £
Due within one year |  |  |
Trade creditors |  | 131,830 | 119,674
Taxation and social security |  | 395 | 323
Directors' loan accounts | 10 | 99,576 | 90,714
Outstanding defined contribution pension costs |  | 198 | 141
Other creditors |  | 5,762 | 5,008
|  | 237,761 | 215,860

9 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
Ordinary A of £1 each | 60 | 60 | 60 | 60
Ordinary B of £1 each | 20 | 20 | 20 | 20
Ordinary C of £1 each | 20 | 20 | 20 | 20
| 100 | 100 | 100 | 100

Hafodneddyn Feeds Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

10 | Related party transactions

Transactions with directors

2026 | At 1 April 2025 £ | Other payments made to company by director £ | At 31 March 2026 £
Mr D H Royal
Interest free loan repayable on demand | (50,515) | (4,621) | (55,136)
Mr C H Royal
Interest free loan repayable on demand | (12,643) | (2,121) | (14,764)
Mrs Y J Royal
Interest free loan repayable on demand | (27,555) | (2,121) | (29,676)

2025 | At 1 April 2024 £ | Other payments made to company by director £ | At 31 March 2025 £
Mr D H Royal
Interest free loan repayable on demand | (33,246) | (17,269) | (50,515)
Mr C H Royal
Interest free loan repayable on demand | (9,374) | (3,269) | (12,643)
Mrs Y J Royal
Interest free loan repayable on demand | (19,286) | (8,269) | (27,555)