27
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2021-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
1,000
1,000
1,000
xbrli:pure
xbrli:shares
iso4217:GBP
02910078
2021-04-01
2022-03-31
02910078
2022-03-31
02910078
2021-03-31
02910078
2020-04-01
2021-03-31
02910078
2021-03-31
02910078
core:LandBuildings
core:LongLeaseholdAssets
2021-04-01
2022-03-31
02910078
core:LandBuildings
core:ShortLeaseholdAssets
2021-04-01
2022-03-31
02910078
core:PlantMachinery
2021-04-01
2022-03-31
02910078
core:FurnitureFittings
2021-04-01
2022-03-31
02910078
core:MotorVehicles
2021-04-01
2022-03-31
02910078
bus:Director4
2021-04-01
2022-03-31
02910078
core:LandBuildings
core:LongLeaseholdAssets
2021-03-31
02910078
core:LandBuildings
core:ShortLeaseholdAssets
2021-03-31
02910078
core:PlantMachinery
2021-03-31
02910078
core:FurnitureFittings
2021-03-31
02910078
core:LandBuildings
core:LongLeaseholdAssets
2022-03-31
02910078
core:LandBuildings
core:ShortLeaseholdAssets
2022-03-31
02910078
core:PlantMachinery
2022-03-31
02910078
core:FurnitureFittings
2022-03-31
02910078
core:WithinOneYear
2022-03-31
02910078
core:WithinOneYear
2021-03-31
02910078
core:ShareCapital
2022-03-31
02910078
core:ShareCapital
2021-03-31
02910078
core:CapitalRedemptionReserve
2022-03-31
02910078
core:CapitalRedemptionReserve
2021-03-31
02910078
core:RetainedEarningsAccumulatedLosses
2022-03-31
02910078
core:RetainedEarningsAccumulatedLosses
2021-03-31
02910078
core:CostValuation
core:Non-currentFinancialInstruments
2022-03-31
02910078
core:Non-currentFinancialInstruments
2022-03-31
02910078
core:Non-currentFinancialInstruments
2021-03-31
02910078
core:LandBuildings
core:LongLeaseholdAssets
2021-03-31
02910078
core:LandBuildings
core:ShortLeaseholdAssets
2021-03-31
02910078
core:PlantMachinery
2021-03-31
02910078
core:FurnitureFittings
2021-03-31
02910078
bus:SmallEntities
2021-04-01
2022-03-31
02910078
bus:AuditExemptWithAccountantsReport
2021-04-01
2022-03-31
02910078
bus:FullAccounts
2021-04-01
2022-03-31
02910078
bus:SmallCompaniesRegimeForAccounts
2021-04-01
2022-03-31
02910078
bus:PrivateLimitedCompanyLtd
2021-04-01
2022-03-31
02910078
core:OfficeEquipment
2021-04-01
2022-03-31
02910078
core:OfficeEquipment
2021-03-31
02910078
core:OfficeEquipment
2022-03-31
COMPANY REGISTRATION NUMBER:
02910078
Filleted Unaudited Financial Statements
|
|
Statement of Financial Position
|
|
31 March 2022
Fixed assets
Tangible assets
|
5
|
|
45,717
|
59,225
|
Investments
|
6
|
|
1,000
|
1,000
|
|
|
--------
|
--------
|
|
|
46,717
|
60,225
|
|
|
|
|
|
Current assets
Stocks
|
11,655
|
|
61
|
Debtors
|
7
|
994,706
|
|
1,033,436
|
Cash at bank and in hand
|
719,383
|
|
525,723
|
|
------------
|
|
------------
|
|
1,725,744
|
|
1,559,220
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
284,006
|
|
292,412
|
|
------------
|
|
------------
|
Net current assets
|
|
1,441,738
|
1,266,808
|
|
|
------------
|
------------
|
Total assets less current liabilities
|
|
1,488,455
|
1,327,033
|
|
|
|
|
|
Provisions
Provision for ERF grant repayment
|
|
–
|
31,460
|
|
|
------------
|
------------
|
Net assets
|
|
1,488,455
|
1,295,573
|
|
|
------------
|
------------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
36,272
|
36,272
|
Capital redemption reserve
|
|
1,910
|
1,910
|
Profit and loss account
|
|
1,450,273
|
1,257,391
|
|
|
------------
|
------------
|
Shareholders funds
|
|
1,488,455
|
1,295,573
|
|
|
------------
|
------------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2022 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued)
|
|
31 March 2022
These financial statements were approved by the
board of directors
and authorised for issue on
14 December 2022
, and are signed on behalf of the board by:
Mrs M W Cadwaladr
|
|
Director
|
|
|
|
Company registration number:
02910078
Notes to the Financial Statements
|
|
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pen Deitsh, CAERNARFON, Gwynedd, LL55 AY.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Leasehold Property Improvements
|
-
|
2% straight line
|
|
Leasehold Fixtures & Fittings
|
-
|
10% straight line
|
|
Office Eqipment & Furniture
|
-
|
16% straight line
|
|
Staff Bicycles
|
-
|
25% straight line
|
|
|
|
|
|
Motor Vehicles
|
-
|
25% straight line
|
|
Translation Equipment
|
-
|
25% straight line
|
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
27
(2021:
26
).
5.
Tangible assets
|
Leasehold property improvements
|
Leasehold Property Fixtures & Fittings
|
Office Equipment & Furniture
|
Staff Bikes
|
Translation Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
|
|
At 1 Apr 2021
|
12,008
|
100,988
|
161,063
|
1,042
|
46,121
|
321,222
|
Additions
|
–
|
–
|
4,439
|
–
|
–
|
4,439
|
|
--------
|
---------
|
---------
|
-------
|
--------
|
---------
|
At 31 Mar 2022
|
12,008
|
100,988
|
165,502
|
1,042
|
46,121
|
325,661
|
|
--------
|
---------
|
---------
|
-------
|
--------
|
---------
|
Depreciation
|
|
|
|
|
|
|
At 1 Apr 2021
|
1,200
|
76,805
|
141,027
|
891
|
42,074
|
261,997
|
Charge for the year
|
240
|
9,347
|
7,105
|
75
|
1,180
|
17,947
|
|
--------
|
---------
|
---------
|
-------
|
--------
|
---------
|
At 31 Mar 2022
|
1,440
|
86,152
|
148,132
|
966
|
43,254
|
279,944
|
|
--------
|
---------
|
---------
|
-------
|
--------
|
---------
|
Carrying amount
|
|
|
|
|
|
|
At 31 Mar 2022
|
10,568
|
14,836
|
17,370
|
76
|
2,867
|
45,717
|
|
--------
|
---------
|
---------
|
-------
|
--------
|
---------
|
At 31 Mar 2021
|
10,808
|
24,183
|
20,036
|
151
|
4,047
|
59,225
|
|
--------
|
---------
|
---------
|
-------
|
--------
|
---------
|
|
|
|
|
|
|
|
6.
Investments
|
Other investments other than loans
|
|
£
|
Cost
|
|
At 1 April 2021 and 31 March 2022
|
1,000
|
|
-------
|
Impairment
|
|
At 1 April 2021 and 31 March 2022
|
–
|
|
-------
|
|
|
Carrying amount
|
|
At 31 March 2022
|
1,000
|
|
-------
|
At 31 March 2021
|
1,000
|
|
-------
|
|
|
7.
Debtors
|
2022
|
2021
|
|
£
|
£
|
Trade debtors
|
221,198
|
259,299
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
771,508
|
770,083
|
Other debtors
|
2,000
|
4,054
|
|
---------
|
------------
|
|
994,706
|
1,033,436
|
|
---------
|
------------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2022
|
2021
|
|
£
|
£
|
Bank loans and overdrafts
|
601
|
–
|
Trade creditors
|
26,185
|
34,287
|
Corporation tax
|
76,211
|
53,229
|
Social security and other taxes
|
106,093
|
163,050
|
Other creditors
|
74,916
|
41,846
|
|
---------
|
---------
|
|
284,006
|
292,412
|
|
---------
|
---------
|
|
|
|
9.
Directors' advances, credits and guarantees
There have been no directors' advances, credits & guarantees in the current year.
10.
Related party transactions
Included in debtors is an amount of £771,508 due from the holding company.
11.
Controlling party
The ultimate parent company is Cymen Holdings Limited.