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REGISTERED NUMBER: 08488598 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

FOR

TWO IP LIMITED

TWO IP LIMITED (REGISTERED NUMBER: 08488598)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TWO IP LIMITED

COMPANY INFORMATION
for the year ended 30 April 2022







DIRECTOR: Dr A Molony





REGISTERED OFFICE: 3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW





REGISTERED NUMBER: 08488598 (England and Wales)





ACCOUNTANTS: Pentlands Accountants and advisors Ltd
Chartered Certified Accountants
and Registered Auditors
3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW

TWO IP LIMITED (REGISTERED NUMBER: 08488598)

BALANCE SHEET
30 April 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,778 737
7,778 737

CURRENT ASSETS
Stocks 3,297 4,123
Debtors 6 19,784 38,913
Cash at bank 114,151 95,731
137,232 138,767
CREDITORS
Amounts falling due within one year 7 14,241 19,394
NET CURRENT ASSETS 122,991 119,373
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,769

120,110

CREDITORS
Amounts falling due after more than one
year

8

(13,667

)

(17,667

)

PROVISIONS FOR LIABILITIES (1,478 ) (140 )
NET ASSETS 115,624 102,303

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 115,524 102,203
SHAREHOLDERS' FUNDS 115,624 102,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

TWO IP LIMITED (REGISTERED NUMBER: 08488598)

BALANCE SHEET - continued
30 April 2022


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

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 and authorised for issue on 12 September 2022 and were signed by:





Dr A Molony - Director


TWO IP LIMITED (REGISTERED NUMBER: 08488598)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2022


1. STATUTORY INFORMATION

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

Turnover
Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Computer software
The computer software is being written off over it's useful economic life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

TWO IP LIMITED (REGISTERED NUMBER: 08488598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2022


2. ACCOUNTING POLICIES - continued

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 2 (2021 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2021
and 30 April 2022 1,525
AMORTISATION
At 1 May 2021
and 30 April 2022 1,525
NET BOOK VALUE
At 30 April 2022 -
At 30 April 2021 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2021 636 2,849 3,485
Additions 251 10,936 11,187
At 30 April 2022 887 13,785 14,672
DEPRECIATION
At 1 May 2021 441 2,307 2,748
Charge for year 92 4,054 4,146
At 30 April 2022 533 6,361 6,894
NET BOOK VALUE
At 30 April 2022 354 7,424 7,778
At 30 April 2021 195 542 737

TWO IP LIMITED (REGISTERED NUMBER: 08488598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2022


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 16,626 37,165
Other debtors 3,158 1,748
19,784 38,913

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 4,000 2,333
Trade creditors 1,374 2,889
Taxation and social security 6,994 13,300
Other creditors 1,873 872
14,241 19,394

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 13,667 17,667

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 1,667