Hughes Blaendyffryn Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04630439 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Hughes Blaendyffryn Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W D E Hughes

SECRETARY:

Mrs E M Hughes

REGISTERED OFFICE:

The Old School

The Quay

Carmarthen

Carmarthenshire

SA31 3JP

REGISTERED NUMBER:

04630439 (England and Wales)

FIXED ASSETS

Tangible assets

4

233,219

171,083

CURRENT ASSETS

Stocks

116,445

131,655

Debtors

5

18,993

864

Investments

6

3,900

13,684

Cash at bank

195,876

165,245

335,214

311,448

CREDITORS

Amounts falling due within one year

7

54,213

68,499

NET CURRENT ASSETS

281,001

242,949

TOTAL ASSETS LESS CURRENT LIABILITIES

514,220

414,032

PROVISIONS FOR LIABILITIES

2,526

15,071

NET ASSETS

511,694

398,961

CAPITAL AND RESERVES

Called up share capital

301

301

Retained earnings

511,393

398,660

SHAREHOLDERS' FUNDS

511,694

398,961

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 8 August 2018 and were signed by:

W D E Hughes - Director

1.	STATUTORY INFORMATION

Hughes Blaendyffryn 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 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

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 6 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

309,739

Additions

91,259

Disposals

(7,450

)

At 31 March 2018

393,548

DEPRECIATION

At 1 April 2017

138,656

Charge for year

24,355

Eliminated on disposal

(2,682

)

At 31 March 2018

160,329

NET BOOK VALUE

At 31 March 2018

233,219

At 31 March 2017

171,083

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

17,060

-

Other debtors

1,933

864

18,993

864

6.	CURRENT ASSET INVESTMENTS

31.3.18

31.3.17

£

£

First milk retention

3,900

13,684

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

6,825

12,006

Taxation and social security

11,969

14,630

Other creditors

35,419

41,863

54,213

68,499

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and

31 March 2017:

31.3.18

31.3.17

£

£

W D E Hughes

Balance outstanding at start of year

(41,863

)

(42,270

)

Amounts advanced

52,325

46,151

Amounts repaid

(45,881

)

(45,744

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(35,419

)

(41,863

)

9.	ULTIMATE CONTROLLING PARTY

The controlling party is W D E Hughes.

10.	FIRST MILK INVESTMENT

Prior to the restructuring of the equity capital of First Milk in August 2016 the company considered that the

actual value of its loan investment in First Milk was significantly impaired. At the time of restructuring, the

capital of First Milk amounted to some 28.5% of its loan commitment to its trading suppliers. The decision has

been made by the directors of Hughes Blaendyffryn Limited to write off the sum of £9,784 being 71.5% of its

loan investment in First Milk at the time of restructuring. The write off is treated as a loss on a trading loan

relationship in recognition of the close trading relationship between the company and First Milk