Hwylfan Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04571161 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

HWYLFAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S A Crisp

Mrs W Crisp

SECRETARY:

Mrs W Crisp

REGISTERED OFFICE:

Christ Church

Bangor Street

Caernarfon

Gwynedd

LL55 1AR

REGISTERED NUMBER:

04571161 (England and Wales)

ACCOUNTANTS:

Williams Denton Cyf

Chartered Certified Accountants

Glaslyn Ffordd Y Parc

Parc Menai

Bangor

Gwynedd

LL57 4FE

FIXED ASSETS

Intangible assets

4

1,500

3,000

Tangible assets

5

1,498

1,852

2,998

4,852

CURRENT ASSETS

Stocks

1,400

1,550

Debtors

6

13,638

14,138

Cash at bank and in hand

62,536

86,000

77,574

101,688

CREDITORS

Amounts falling due within one year

7

(32,908

)

(41,646

)

NET CURRENT ASSETS

44,666

60,042

TOTAL ASSETS LESS CURRENT LIABILITIES

47,664

64,894

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

47,564

64,794

SHAREHOLDERS' FUNDS

47,664

64,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 14 December 2017 and were signed on its behalf by:

Mr S A Crisp - Director

Mrs W Crisp - Director

1.	STATUTORY INFORMATION

Hwylfan 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents takings, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten 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 and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

15,000

AMORTISATION

At 1 April 2016

12,000

Charge for year

1,500

At 31 March 2017

13,500

NET BOOK VALUE

At 31 March 2017

1,500

At 31 March 2016

3,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

88,465

DEPRECIATION

At 1 April 2016

86,613

Charge for year

354

At 31 March 2017

86,967

NET BOOK VALUE

At 31 March 2017

1,498

At 31 March 2016

1,852

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Other debtors

13,638

14,138

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

3,747

7,950

Taxation and social security

14,421

21,231

Other creditors

14,740

12,465

32,908

41,646

8.	FIRST YEAR ADOPTION

These financial statements for the year ended 31 March 2017 are the first financial statements prepared under Section 1A

"Small Entities" of Financial Reporting Standard 102. The date of transition is 1 April 2015.

The transition has not resulted in any changes to the accounting policies used previously.