PYST Cyfyngedig - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11263651 (Wales)

PYST CYFYNGEDIG

Unaudited Financial Statements

for the Year Ended 31 March 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A L Jones

K Tame

H Davies

Ms B Powell

D Pugh

Ms L M Williams

REGISTERED OFFICE:

28 The Balcony

Castle Arcade

Cardiff

CF10 1BY

REGISTERED NUMBER:

11263651 (Wales)

ACCOUNTANTS:

OBP Chartered Accountants

Highdale House

7 Centre Court

Treforest Industrial Estate

Pontypridd

Rhondda Cynon Taff

CF37 5YR

FIXED ASSETS

Intangible assets

4

5,000

-

Tangible assets

5

3,740

2,700

8,740

2,700

CURRENT ASSETS

Debtors

6

2,375

4,305

Cash at bank and in hand

93,763

28,268

96,138

32,573

CREDITORS

Amounts falling due within one year

7

102,256

33,575

NET CURRENT LIABILITIES

(6,118

)

(1,002

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,622

1,698

RESERVES

Income and expenditure account

2,622

1,698

2,622

1,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 23 March 2021 and were signed on its behalf by:

K Tame - Director

1.	STATUTORY INFORMATION

PYST Cyfyngedig is a private company, limited by guarantee , 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of two years.

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 etc

-

25% on cost

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.

Government grants

Government grants are awarded to the company for the provision of certain services. The grants are released to the profit and loss account as and when those services are provided.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

10,000

At 31 March 2020

10,000

AMORTISATION

Charge for year

5,000

At 31 March 2020

5,000

NET BOOK VALUE

At 31 March 2020

5,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

2,842

Additions

1,759

At 31 March 2020

4,601

DEPRECIATION

At 1 April 2019

142

Charge for year

719

At 31 March 2020

861

NET BOOK VALUE

At 31 March 2020

3,740

At 31 March 2019

2,700

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

1,886

4,305

Other debtors

489

-

2,375

4,305

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

11,026

434

Taxation and social security

(1,117

)

41

Other creditors

92,347

33,100

102,256

33,575

8.	LIMITED BY GUARANTEE

The company is limited by guarantee and does not have share capital.

Every member of the company undertakes to contribute such amount as may be required (not exceeding one pound) to the assets of the company if it should be wound up whilst he/she is a member, for payment of the company's debts abd liabilities contracted before he/she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves.

In the event of dissolution of the company, its remaining assets shall be disposed of by the directors in the ways that further the aims of the company.