ACCOUNTS - Final Accounts preparation

IECHYD DA (GWLEDIG) LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-312024-05-1682022-09-01truefalse9Veterinary servicestrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08821623 2022-09-01 2023-08-31 08821623 2021-09-01 2022-08-31 08821623 2023-08-31 08821623 2022-08-31 08821623 c:Director5 2022-09-01 2023-08-31 08821623 d:CurrentFinancialInstruments 2023-08-31 08821623 d:CurrentFinancialInstruments 2022-08-31 08821623 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 08821623 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 08821623 d:RetainedEarningsAccumulatedLosses 2023-08-31 08821623 d:RetainedEarningsAccumulatedLosses 2022-08-31 08821623 c:FRS102 2022-09-01 2023-08-31 08821623 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 08821623 c:FullAccounts 2022-09-01 2023-08-31 08821623 c:CompanyLimitedByGuarantee 2022-09-01 2023-08-31 08821623 2 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 08821623

IECHYD DA (GWLEDIG) LIMITED

(A company limited by guarantee)

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

IECHYD DA (GWLEDIG) LIMITED

(A company limited by guarantee)

REGISTERED NUMBER: 08821623

BALANCE SHEET

AS AT 31 AUGUST 2023

		2023		2022
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	689,446		526,403
Cash at bank and in hand	6	1,067,682		716,381
		1,757,128		1,242,784
Creditors: amounts falling due within one year	7	(1,031,712)		(702,237)
Net current assets			725,416		540,547
Total assets less current liabilities			725,416		540,547

Net assets			725,416		540,547

Capital and reserves
Profit and loss account	725,416	540,547
	725,416	540,547

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IECHYD DA (GWLEDIG) LIMITED

(A company limited by guarantee)

REGISTERED NUMBER: 08821623

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 May 2024.

Philip Thomas

Director

The notes on pages 3 to 5 form part of these financial statements.

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IECHYD DA (GWLEDIG) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

1.	General information

Iechyd Da (Gwledig) Limited, 08821623, is a private company limited by guarantee, incorporated in England and Wales, with its registered office and principal place of business at Gorseland, North Road, Aberystwyth, Ceredigion, SY23 2WB.
The principal activity of the Company is to promote and deliver veterinary related services including in particular the provision of TB testing services to government in England and Wales.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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IECHYD DA (GWLEDIG) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.

Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 9).

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IECHYD DA (GWLEDIG) LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

Debtors

					2023	2022
					£	£


Trade debtors	669,786	508,444
Other debtors	6,816	6,132
Prepayments and accrued income	12,844	11,827
	689,446	526,403

6.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	1,067,682	716,381
	1,067,682	716,381

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	644,817	452,391
Corporation tax	50,661	30,360
Other taxation and social security	21,138	25,723
Other creditors	14,665	14,665
Accruals and deferred income	300,431	179,098
	1,031,712	702,237


8.	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

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