Tynewydd Developments Limited


Directors	Mr G G Perfect
	Mrs C A Perfect


Company Secretary	Mrs C A Perfect


Registered Address	74 High Street
	Fishguard
	SA65 9AU


Registered Number	03340668 (England and Wales)

Balance Sheet as at
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		353,229		407,990
			353,229		407,990
Current assets
Stocks	4	2,600,451		2,173,714
Debtors	5	2,054,471		2,094,484
Cash at bank and on hand		84,834		83,763
		4,739,756		4,351,961
Creditors amounts falling due within one year	6	(3,078,444)		(2,802,310)
Net current assets (liabilities)			1,661,312		1,549,651
Total assets less current liabilities			2,014,541		1,957,641
Creditors amounts falling due after one year	7		(27,366)		(32,234)
Net assets			1,987,175		1,925,407
Capital and reserves
Called up share capital			15,000		15,000
Profit and loss account			1,972,175		1,910,407
Shareholders' funds			1,987,175		1,925,407

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 24 August 2026, and are signed on its behalf by:

Mr G G Perfect
Director
Registered Company No. 03340668

Tynewydd Developments Limited

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. No depreciation is provided in respect of freehold property.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 January 25	407,990
	Disposals	(54,761)
	At 31 December 25	353,229
	Net book value
	At 31 December 25	353,229
	At 31 December 24	407,990

4.	Stocks

	2025	2024
	£	£
Work in progress	2,600,451	2,173,714
Total	2,600,451	2,173,714

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Amounts owed by group undertakings	698,026	819,026
Other debtors	1,356,445	1,275,458
Total	2,054,471	2,094,484

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Bank borrowings and overdrafts	4,871	4,657
Amounts owed to related parties	2,850,015	2,656,765
Taxation and social security	25,936	21,103
Other creditors	112,622	34,784
Accrued liabilities and deferred income	85,000	85,001
Total	3,078,444	2,802,310


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	27,366	32,234
Total	27,366	32,234

8.	Related party transactions
	Derwydd Garage Limited and Cloverton Properties (Cilgerran) Limited are related parties of the company by virtue of the common control of the ultimate parent company Good Stewards Limited. During the year Cloverton Properties (Cilgerran) Limited carried out construction work for the company to the value of £200,000 (2024 - £200,000). At the balance sheet date the company owed Cloverton Properties (Cilgerran) Limited £2,850,015 (2024 - £2,656,765). During the year Tynewydd Developments Limited carried out construction work for Good Stewards Limited to the value of £20,000 (2024 - £20,000) and Derwydd Garage Limited provided services to the value of £nil (2024 - £20,000). The company has leased for a period of 21 years and 1 day one of the completed, but as yet unsold, properties to Good Stewards Limited, the rent charged to Good Stewards Limited during the year amounted to £15,000 (2024 - £15,000). At the balance sheet date Good Stewards Limited owed the company £543,523 (2024 - £664,523) and Derwydd Garage Limited owed the company £154,503 (2024 - £154,503). The company has leased for a period of 21 years and 1 day some of the completed, but as yet unsold, properties to Home Rent West Wales Limited, a company controlled by Mr & Mrs Perfect by virtue of their 100% shareholding. The rent charged to Home Rent West Wales Limited during the year amounted to £117,500 (2024 - £115,000) and the balance owing to the company by Home Rent West Wales Limited at the year end amounted to £1,327,279 (2024 - £1,210,908). The company has leased for a period of 21 years and 1 day one of the completed, but as yet unsold, properties to Llantydwell Limited, a company controlled by Mr & Mrs Perfect by virtue of their 100% shareholding. The rent charged to Llantydwell Limited during the year amounted to £6,667 (2024 - £10,000) and the balance owing to the company by Llantydwell Limited at the year end amounted to £29,167 (2024 - £22,500). The company has leased for a period of 21 years and 1 day one of the completed, but as yet unsold, properties to M & A Trading Limited, a company controlled by Mr & Mrs Perfect by virtue of their 100% shareholding. The rent charged to M & A Trading Limited during the year amounted to £15,000 (2024 - £15,000) and the balance owing by the company to M & A Trading Limited at the year end amounted to £53,750 (2024 - owing to the company £41,250).

Related party transactions

Derwydd Garage Limited and Cloverton Properties (Cilgerran) Limited are related parties of the company by virtue of the common control of the ultimate parent company Good Stewards Limited.

During the year Cloverton Properties (Cilgerran) Limited carried out construction work for the company to the value of £200,000 (2024 - £200,000).  At the balance sheet date the company owed Cloverton Properties (Cilgerran) Limited £2,850,015 (2024 - £2,656,765).

During the year Tynewydd Developments Limited carried out construction work for Good Stewards Limited to the value of £20,000 (2024 - £20,000) and Derwydd Garage Limited provided services to the value of £nil (2024 - £20,000).  The company has leased for a period of 21 years and 1 day one of the completed, but as yet unsold, properties to Good Stewards Limited, the rent charged to Good Stewards Limited during the year amounted to £15,000 (2024 - £15,000).  At the balance sheet date Good Stewards Limited owed the company £543,523 (2024 - £664,523) and Derwydd Garage Limited owed the company £154,503 (2024 - £154,503).

The company has leased for a period of 21 years and 1 day some of the completed, but as yet unsold, properties to Home Rent West Wales Limited, a company controlled by Mr & Mrs Perfect by virtue of their 100% shareholding.  The rent charged to Home Rent West Wales Limited during the year amounted to £117,500 (2024 - £115,000) and the balance owing to the company by Home Rent West Wales Limited at the year end amounted to £1,327,279 (2024 - £1,210,908).

The company has leased for a period of 21 years and 1 day one of the completed, but as yet unsold, properties to Llantydwell Limited, a company controlled by Mr & Mrs Perfect by virtue of their 100% shareholding.  The rent charged to Llantydwell Limited during the year amounted to £6,667 (2024 - £10,000) and the balance owing to the company by Llantydwell Limited at the year end amounted to £29,167 (2024 - £22,500).

The company has leased for a period of 21 years and 1 day one of the completed, but as yet unsold, properties to M & A Trading Limited, a company controlled by Mr & Mrs Perfect by virtue of their 100% shareholding.  The rent charged to M & A Trading Limited during the year amounted to £15,000 (2024 - £15,000) and the balance owing by the company to M & A Trading Limited at the year end amounted to £53,750 (2024 - owing to the company £41,250).