Cwmni Cydweithredol Tafarn Y Fic - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02252979 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Cwmni Cydweithredol Cymunedol Tafarn Y

Fic Cyfyngedig

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

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 L Williams

Mr D T Ellis

Miss C Roberts

Mr G L Evans

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

71,289

74,318

CURRENT ASSETS

Stocks

1,700

800

Debtors

5

-

97

Cash at bank and in hand

52,166

70,501

53,866

71,398

CREDITORS

Amounts falling due within one year

6

13,357

11,793

NET CURRENT ASSETS

40,509

59,605

TOTAL ASSETS LESS CURRENT LIABILITIES

111,798

133,923

CREDITORS

Amounts falling due after more than one year

7

(30,902

)

(37,085

)

PROVISIONS FOR LIABILITIES

(1,071

)

(1,340

)

ACCRUALS AND DEFERRED INCOME

(33,041

)

(34,089

)

NET ASSETS

46,784

61,409

RESERVES

Furniture Renewal Reserve

562

562

Repair and Renew Property Res

4,000

4,000

Income and expenditure account

42,222

56,847

46,784

61,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 and authorised for issue on 1 February 2024 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 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

75,861

61,046

136,907

DEPRECIATION

At 1 April 2022

9,103

53,486

62,589

Charge for year

1,518

1,511

3,029

At 31 March 2023

10,621

54,997

65,618

NET BOOK VALUE

At 31 March 2023

65,240

6,049

71,289

At 31 March 2022

66,758

7,560

74,318

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Other debtors

-

97

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

6,183

6,032

Trade creditors

5,285

4,433

Taxation and social security

667

140

Other creditors

1,222

1,188

13,357

11,793

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

15,297

21,480

Other creditors

15,605

15,605

30,902

37,085

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cwmni Cydweithredol Cymunedol Tafarn Y Fic Cyfyngedig for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Cwmni Cydweithredol Cymunedol Tafarn Y Fic Cyfyngedig, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cwmni Cydweithredol Cymunedol Tafarn Y Fic Cyfyngedig and state those matters that we have agreed to state to the Board of Directors of Cwmni Cydweithredol Cymunedol Tafarn Y Fic Cyfyngedig, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cwmni Cydweithredol Cymunedol Tafarn Y Fic Cyfyngedig and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cwmni Cydweithredol Cymunedol Tafarn Y Fic Cyfyngedig has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cwmni Cydweithredol Cymunedol Tafarn Y Fic Cyfyngedig. You consider that Cwmni Cydweithredol Cymunedol Tafarn Y Fic Cyfyngedig is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cwmni Cydweithredol Cymunedol Tafarn Y Fic Cyfyngedig. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

Date: .............................................