Registration number: 02910531

Ffos Las Limited

Contents

Company Information	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Unaudited Financial Statements	4 to 7

Ffos Las Limited

Company Information

Directors

Mr S C P Grey Mr D Thursfield Mr P H Richards Mrs S C Llewellyn Mr R J Walters Mr M E R Llewellyn

Company secretary

Mr M E R Llewellyn

Registered office

Hirwaun House Hirwaun Industrial Estate Hirwaun Aberdare Rhondda Cynon Taf CF44 9UL

Solicitors

Hugh James Two Central Square Cardiff CF10 1FS

Ffos Las Limited

(Registration number: 02910531)
Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Current assets
Stocks	4	58,875	199,624
Debtors	5	74,063	71,457
Cash at bank and in hand		281,703	382,312
		414,641	653,393
Creditors: Amounts falling due within one year	6	(182,829)	(234,397)
Net assets		231,812	418,996
Capital and reserves
Called up share capital	7	10,483	10,483
Share premium reserve		-	364,513
Retained earnings		221,329	44,000
Shareholders' funds		231,812	418,996

For the financial year ending 28 February 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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 31 October 2025 and signed on its behalf by:
 

......................................... Mr M E R Llewellyn Company secretary and director

Ffos Las Limited

Statement of Changes in Equity for the Year Ended 28 February 2025

	Share capital £	Share premium £	Retained earnings £	Total £
At 1 March 2024	10,483	364,513	44,000	418,996
Profit for the year	-	-	262,725	262,725
Dividends	-	-	(449,909)	(449,909)
Other movements on reserves	-	(364,513)	364,513	-
At 28 February 2025	10,483	-	221,329	231,812

	Share capital £	Share premium £	Retained earnings £	Total £
At 1 March 2023	10,483	364,513	34,488	409,484
Profit for the year	-	-	9,512	9,512
At 29 February 2024	10,483	364,513	44,000	418,996

Ffos Las Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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:
Hirwaun House
Hirwaun Industrial Estate
Hirwaun
Aberdare
Rhondda Cynon Taf
CF44 9UL
Wales

These financial statements were authorised for issue by the Board on 31 October 2025.

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.

The presentation currency of the financial statements is the Pound Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Consideration from the sale of properties is recognised when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the property and it is probable that future economic benefits will flow to the entity.

Other turnover represents net invoiced sales of services, which is recognised in the period to which it relates.

Consideration from the rental of properties is recognised in the accounting period in which the rental period occurs.

Ffos Las Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

4

Stocks

	2025 £	2024 £
Other inventories	58,875	199,624

5

Debtors

Current	2025 £	2024 £
Trade debtors	4,063	1,330
Prepayments	70,000	70,000
Other debtors	-	127
	74,063	71,457

Ffos Las Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	1,084	289
Accruals and deferred income	662	662
Other creditors	181,083	233,446
	182,829	234,397

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £0.01 each	1,048,250	10,483	1,048,250	10,483

8

Dividends

Interim dividends paid

		2025 £		2024 £
Interim dividend of £0.4292 (2024 - £Nil) per each Ordinary share		449,909		-

Ffos Las Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

9	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £3,111,042 (2024 - £1,891,201). At 28 February 2025 the company had a joint and several cross counter guarantee indemnity facility in respect of contract bonds. This indemnity was in relation to Ffos Las Limited, one of its shareholders G Walters (Holdings) Limited and that company's subsidiaries: G Walters (Leasing) Limited, Walters Resources Limited, Walters Plant Hire Limited, Walters Environmental Limited, Walters UK Limited, Walters Land Limited and Headaway (Europe) Limited. The indemnity was also in relation to G Walters (Consultancy) Limited and Walters Land (Rogerstone) Limited. The total value of active contract bonds within these companies at 28 February 2025 was £3,111,042 (2024: £1,891,201).

10	Related party transactions

Other transactions with directors

Dividends of £231,984 were paid to directors during the year (2024: nil).