REGISTERED NUMBER: 06562883 (England and Wales)

MELYS AFS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2017 TO 31 MAY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Prof D Parker BSc PhD Finst CPhys

Sir J E Enderby CBE FRS

SECRETARY:

Prof D Parker BSc PhD Finst CPhys

REGISTERED OFFICE:

Whitland Abbey

Whitland

Carmarthenshire

SA34 0LG

REGISTERED NUMBER:

06562883 (England and Wales)

ACCOUNTANTS:

Llewelyn Davies

Chartered Accountants

Yelverton House

St John Street

Whitland

Carmarthenshire

SA34 0AW

FIXED ASSETS

Intangible assets

3

26,339

24,806

Tangible assets

4

242

285

26,581

25,091

CURRENT ASSETS

Stocks

300

300

Debtors

5

906

3,935

Cash at bank and in hand

2,352

424

3,558

4,659

CREDITORS

Amounts falling due within one year

6

57,144

51,644

NET CURRENT LIABILITIES

(53,586

)

(46,985

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,005

)

(21,894

)

CAPITAL AND RESERVES

Called up share capital

129

129

Share premium

151,919

151,919

Retained earnings

(179,053

)

(173,942

)

SHAREHOLDERS' FUNDS

(27,005

)

(21,894

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 February 2019 and were signed on its behalf by:

Prof D Parker BSc PhD Finst CPhys - Director

1.	STATUTORY INFORMATION

Melys AFS 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.

The directors have a reasonable expectation that the company has access to adequate funding, as well as

the ongoing support of its directors for it to continue trading for the foreseeable future and as a result of

this, the directors continues to adopt the going concern basis of accounting.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at

cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible asset - patent

Amortisation is provided at 20% on cost in order to write off the asset over its estimated useful life.

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

-

15% 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.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 May 2017

30,109

Additions

1,533

At 31 May 2018

31,642

AMORTISATION

At 1 May 2017

and 31 May 2018

5,303

NET BOOK VALUE

At 31 May 2018

26,339

At 30 April 2017

24,806

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 May 2017

and 31 May 2018

735

DEPRECIATION

At 1 May 2017

450

Charge for period

43

At 31 May 2018

493

NET BOOK VALUE

At 31 May 2018

242

At 30 April 2017

285

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Tax

906

3,935

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

VAT

123

121

Other creditors

19,561

19,561

Credit card control

6,058

1,372

Directors' loan accounts

29,676

28,925

Accrued expenses

1,726

1,665

57,144

51,644

7.	ULTIMATE CONTROLLING PARTY

There is no controlling party.