Hwylfan Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04571161 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

HWYLFAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

Tangible assets

5

5,248

1,498

5,248

2,998

CURRENT ASSETS

Stocks

1,400

1,400

Debtors

6

3,196

13,638

Cash at bank and in hand

79,989

62,536

84,585

77,574

CREDITORS

Amounts falling due within one year

7

(39,598

)

(32,908

)

NET CURRENT ASSETS

44,987

44,666

TOTAL ASSETS LESS CURRENT LIABILITIES

50,235

47,664

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

50,135

47,564

SHAREHOLDERS' FUNDS

50,235

47,664

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 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 9 October 2018 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

15,000

AMORTISATION

At 1 April 2017

13,500

Charge for year

1,500

At 31 March 2018

15,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

1,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

88,465

Additions

4,566

At 31 March 2018

93,031

DEPRECIATION

At 1 April 2017

86,967

Charge for year

816

At 31 March 2018

87,783

NET BOOK VALUE

At 31 March 2018

5,248

At 31 March 2017

1,498

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other debtors

3,196

13,638

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

4,415

3,747

Taxation and social security

19,080

14,421

Other creditors

16,103

14,740

39,598

32,908