Cwmni Cydweithredol Tafarn Y Fic - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02252979 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Cwmni Cydweithredol Cymunedol Tafarn Y

Fic Cyfyngedig

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Ap Dafydd

Mr I Ap Llyfnwy

Mr J L Jones

Mr R H Thomas

Mrs L G Elis

Mrs M G Morgan

Mr O G Elis

Mr D Hughes

Mr L Williams

Mr D T Ellis

Miss C Roberts

Mr D R Griffiths

SECRETARY:

Mr I Ap Llyfnwy

REGISTERED OFFICE:

Adeilad St David's Building

Lombard Street

Porthmadog

Gwynedd

LL49 9AP

REGISTERED NUMBER:

02252979 (England and Wales)

ACCOUNTANTS:

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

FIXED ASSETS

Tangible assets

4

82,891

87,296

CURRENT ASSETS

Stocks

2,000

3,000

Debtors

5

119

-

Cash at bank and in hand

46,182

55,603

48,301

58,603

CREDITORS

Amounts falling due within one year

6

11,614

14,363

NET CURRENT ASSETS

36,687

44,240

TOTAL ASSETS LESS CURRENT LIABILITIES

119,578

131,536

CREDITORS

Amounts falling due after more than one year

7

(15,605

)

(15,605

)

PROVISIONS FOR LIABILITIES

(2,019

)

(2,529

)

ACCRUALS AND DEFERRED INCOME

(37,236

)

(38,285

)

NET ASSETS

64,718

75,117

RESERVES

Furniture Renewal Reserve

562

562

Repair and Renew Property Res

4,000

4,000

Income and expenditure account

60,156

70,555

64,718

75,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25 November 2019 and were signed on its behalf by:

Mr I Ap Llyfnwy - Director

1.	STATUTORY INFORMATION

Cwmni Cydweithredol Cymunedol Tafarn Y Fic Cyfyngedig is a private company, limited by guarantee ,

registered in England and Wales. The company's registered number and registered office address can be found

on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixed assets are stated at their costs prices, less accumulated depreciation and less amounts recognised in respect

of impairment.

Freehold property - 2% Straight line

Improvements to property - 2% Straight Line

Plant and machinery - 20% Reducing balance

Fixtures and fittings - 20% Reducing balance

Computer equipment - 20% Reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

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

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

75,861

58,904

134,765

DEPRECIATION

At 1 April 2018

2,132

45,337

47,469

Charge for year

1,517

2,888

4,405

At 31 March 2019

3,649

48,225

51,874

NET BOOK VALUE

At 31 March 2019

72,212

10,679

82,891

At 31 March 2018

73,729

13,567

87,296

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

119

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

9,629

11,875

Taxation and social security

1,040

1,511

Other creditors

945

977

11,614

14,363

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Other creditors

15,605

15,605