Melys AFS Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06562883 (England and Wales)

MELYS AFS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Prof D Parker BSc PhD Finst CPhys

SECRETARY:

Prof D Parker BSc PhD Finst CPhys

REGISTERED OFFICE:

Whitland Abbey

Whitland

Carmarthenshire

SA34 0LG

REGISTERED NUMBER:

06562883 (England and Wales)

ACCOUNTANTS:

Llewelyn Davies

Chartered Accountants

Yelverton House

St John Street

Whitland

Carmarthenshire

SA34 0AW

FIXED ASSETS

Intangible assets

4

26,339

26,339

Tangible assets

5

372

437

26,711

26,776

CURRENT ASSETS

Stocks

-

300

Debtors

6

-

1,155

Cash at bank and in hand

374

122

374

1,577

CREDITORS

Amounts falling due within one year

7

68,804

69,529

NET CURRENT LIABILITIES

(68,430

)

(67,952

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(41,719

)

(41,176

)

CAPITAL AND RESERVES

Called up share capital

129

129

Share premium

151,919

151,919

Retained earnings

(193,767

)

(193,224

)

SHAREHOLDERS' FUNDS

(41,719

)

(41,176

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 25 February 2023 and were signed by:

Prof D Parker BSc PhD Finst CPhys - Director

1.	STATUTORY INFORMATION

Melys AFS Limited is a private company, limited by shares , 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.

The directors have a reasonable expectation that the company has access to adequate funding, as well as the ongoing support of its directors for it to continue trading for the foreseeable future and as a result of this, the directors continues to adopt the going concern basis of accounting.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible asset - patent

Amortisation is provided at 20% on cost in order to write off the asset over its estimated useful life.

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

-

15% on 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 June 2021

and 31 May 2022

31,642

AMORTISATION

At 1 June 2021

and 31 May 2022

5,303

NET BOOK VALUE

At 31 May 2022

26,339

At 31 May 2021

26,339

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2021

and 31 May 2022

1,204

DEPRECIATION

At 1 June 2021

767

Charge for year

65

At 31 May 2022

832

NET BOOK VALUE

At 31 May 2022

372

At 31 May 2021

437

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

-

1,155

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

129

254

Other creditors

68,675

69,275

68,804

69,529

8.	ULTIMATE CONTROLLING PARTY

There is no controlling party.