Y Dref Werdd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08565229 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2023

for

Y Dref Werdd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mr P R Francis

Mrs L Jones

Mrs A Daniels

Mr K E Davies

Mr R O Williams

Mr D R Williams

Ms C Jones

Mrs I W Jones

Mr E W Ap Elwyn

SECRETARY:

Mr G I Ap Wynn

REGISTERED OFFICE:

Yr Hen Siambr

5 Stryd Fawr

Blaenau Ffestiniog

Gwynedd

LL41 3ES

REGISTERED NUMBER:

08565229 (England and Wales)

ACCOUNTANTS:

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

FIXED ASSETS

Tangible assets

4

96,403

117,082

CURRENT ASSETS

Debtors

5

3,000

1,600

Cash at bank

135,126

84,967

138,126

86,567

CREDITORS

Amounts falling due within one year

6

190,018

132,535

NET CURRENT LIABILITIES

(51,892

)

(45,968

)

TOTAL ASSETS LESS CURRENT LIABILITIES

44,511

71,114

CREDITORS

Amounts falling due after more than one year

7

(90,518

)

(96,991

)

PROVISIONS FOR LIABILITIES

(18,317

)

(22,246

)

NET LIABILITIES

(64,324

)

(48,123

)

RESERVES

Communities first reserve

591

738

Income and expenditure account

(64,915

)

(48,861

)

(64,324

)

(48,123

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 28 March 2024 and were signed on its behalf by:

Mr P R Francis - Director

Mrs A Daniels - Director

1.	STATUTORY INFORMATION

Y Dref Werdd is a private company, limited by guarantee , 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 considered the basis for the preparation of the financial statements and consider the going concern basis to be the most suitable.

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 etc

-

20% on reducing balance

Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment.

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.

Grant income

In accordance with relevant accounting standards, all grants will upon the meeting of the eligibility conditions be treated in line with generally accepted accounting principles. That is:

Revenue grants will be recognised in the income and expenditure account so as to match them with the expenditure towards which they are intended to contribute. With any surplus being deferred so as to match future expenditure.

Capital grants will be treated as deferred income, which is subsequently credited to the income and expenditure account by instalments over the expected useful economic life of the related asset on a basis consistent with the depreciation policy of said asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2022

163,672

Additions

3,420

At 30 June 2023

167,092

DEPRECIATION

At 1 July 2022

46,590

Charge for year

24,099

At 30 June 2023

70,689

NET BOOK VALUE

At 30 June 2023

96,403

At 30 June 2022

117,082

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Other debtors

3,000

1,600

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade creditors

1,926

-

Taxation and social security

6,678

5,791

Other creditors

181,414

126,744

190,018

132,535

The other creditor balances relates to:

2023

2022

£

£

1,944

1,795

Accruals

13,243

11,810

Wages accrued

22,631

24,248

Capital grants due in less than one year

143,596

88,890

Deferred revenue grants

181,414

126,744

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.23

30.6.22

£

£

Deferred grants

90,518

96,991

8.	RELATED PARTY DISCLOSURES

The directors have considered the related party disclosure requirements and have concluded that no such disclosure is required in the year (2022: Nil).

9.	LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have any share capital. The ultimate control of the company therefore resides in its members who are liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The members being:

- Mr I C Cunnington

- Mr R P Francis

- Mrs L Jones

- Mr P Williams

The directors also confirm that because the company is limited by guarantee it is exempt, under S60 of the Companies Act 2006, from the requirement to have their company name ending with 'Limited', 'Cyfyngedig' or any other permitted alternative.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Y Dref Werdd for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Y Dref Werdd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Y Dref Werdd and state those matters that we have agreed to state to the Board of Directors of Y Dref Werdd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Y Dref Werdd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Y Dref Werdd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Y Dref Werdd. You consider that Y Dref Werdd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Y Dref Werdd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

Date: .............................................