Pentir Pumlumon Cyf. - Period Ending 2019-10-31

Pentir Pumlumon Cyf. - Period Ending 2019-10-31


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Registration number: 04753434

Pentir Pumlumon Cyf.

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2019

 

Pentir Pumlumon Cyf.

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Pentir Pumlumon Cyf.

Company Information

Directors

Mr R P C Smith

Mr E M Jenkins

Mr J Wildig

Ms M T Raw

Ms E A Bunton

Mr M C Lewis

Ms S V J Chism

Mr S Pickard

Mr D G Newnham

Mr J D Cowie

Registered office

Lisburne Offices
Pontrhydygroes
Ystrad Meurig
Ceredigion
SY25 6DQ

Accountants

PJE Chartered Accountants
23 College Street
Lampeter
Ceredigion
SA48 7DY

 

Pentir Pumlumon Cyf.

(Registration number: 04753434)
Balance Sheet as at 31 October 2019

Note

2019
£

2018
£

Fixed assets

 

Tangible assets

4

849

1,003

Current assets

 

Debtors

5

8,354

8,627

Cash at bank and in hand

 

10,029

5,836

 

18,383

14,463

Creditors: Amounts falling due within one year

6

(2,472)

(2,723)

Net current assets

 

15,911

11,740

Total assets less current liabilities

 

16,760

12,743

Provisions for liabilities

818

(1,278)

Net assets

 

17,578

11,465

Capital and reserves

 

Profit and loss account

17,578

11,465

Total equity

 

17,578

11,465

For the financial year ending 31 October 2019 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors’ report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small and micro companies regime.

 

Pentir Pumlumon Cyf.

(Registration number: 04753434)
Balance Sheet as at 31 October 2019 (continued)

Approved and authorised by the Board on 30 June 2020 and signed on its behalf by:
 

.........................................

Mr R P C Smith

Director

.........................................

Mr J Wildig

Director

 

Pentir Pumlumon Cyf.

Notes to the Financial Statements for the Year Ended 31 October 2019

1

General information

The company is a incorporated in England & Wales.

The address of its registered office is:
Lisburne Offices
Pontrhydygroes
Ystrad Meurig
Ceredigion
SY25 6DQ
United Kingdom

The company registration number is 04753434.

These financial statements were authorised for issue by the Board on 30 June 2020.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

 

Pentir Pumlumon Cyf.

Notes to the Financial Statements for the Year Ended 31 October 2019 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery etc.

15% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Pentir Pumlumon Cyf.

Notes to the Financial Statements for the Year Ended 31 October 2019 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2018 - 2).

 

Pentir Pumlumon Cyf.

Notes to the Financial Statements for the Year Ended 31 October 2019 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 November 2018

13,661

6,022

19,683

At 31 October 2019

13,661

6,022

19,683

Depreciation

At 1 November 2018

12,551

6,129

18,680

Charge for the year

154

-

154

At 31 October 2019

12,705

6,129

18,834

Carrying amount

At 31 October 2019

956

(107)

849

At 31 October 2018

1,110

(107)

1,003

5

Debtors

2019
£

2018
£

Trade debtors

6,682

5,870

Other debtors

1,672

2,757

Total current trade and other debtors

8,354

8,627

6

Creditors

 

Pentir Pumlumon Cyf.

Notes to the Financial Statements for the Year Ended 31 October 2019 (continued)

6

Creditors (continued)

Note

2019
£

2018
£

Due within one year

 

Trade creditors

 

590

570

Taxation and social security

 

207

228

Accruals and deferred income

 

542

542

Other creditors

 

1,133

1,383

 

2,472

2,723