Meic Hughes Cyf - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09552527 (Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Meic Hughes Cyf

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Hughes

Mrs L Hughes

REGISTERED OFFICE:

Mochras Isaf

Boduan

Pwllheli

Gwynedd

LL53 8UF

REGISTERED NUMBER:

09552527 (Wales)

ACCOUNTANTS:

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

FIXED ASSETS

Tangible assets

4

33,012

41,016

CURRENT ASSETS

Debtors

5

38,733

36,280

Cash at bank

19,121

15,243

57,854

51,523

CREDITORS

Amounts falling due within one year

6

18,426

18,438

NET CURRENT ASSETS

39,428

33,085

TOTAL ASSETS LESS CURRENT LIABILITIES

72,440

74,101

CREDITORS

Amounts falling due after more than one year

7

(8,662

)

(17,626

)

PROVISIONS FOR LIABILITIES

(6,272

)

(7,793

)

NET ASSETS

57,506

48,682

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

57,406

48,582

SHAREHOLDERS' FUNDS

57,506

48,682

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 profit or loss 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 12 December 2019 and were signed on its behalf by:

Mr M Hughes - Director

Mrs L Hughes - Director

1.	STATUTORY INFORMATION

Meic Hughes Cyf is a private company, limited by shares , registered in 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.

Plant and machinery - 20% reducing balance

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 profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

59,170

Additions

249

At 31 March 2019

59,419

DEPRECIATION

At 1 April 2018

18,154

Charge for year

8,253

At 31 March 2019

26,407

NET BOOK VALUE

At 31 March 2019

33,012

At 31 March 2018

41,016

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

8,364

7,729

Other debtors

30,369

28,551

38,733

36,280

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

10,152

10,152

Trade creditors

1,022

2,886

Taxation and social security

6,803

4,964

Other creditors

449

436

18,426

18,438

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

8,662

17,626

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2019 and

31 March 2018:

31.3.19

31.3.18

£

£

Mr M Hughes and Mrs L Hughes

Balance outstanding at start of year

6,950

(16,521

)

Amounts advanced

1,819

32,534

Amounts repaid

-

(9,063

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,769

6,950