Company Registration No. 11771387 (England and Wales)
TWC CAPITAL LTD
Unaudited accounts
for the year ended 31 December 2022
TWC CAPITAL LTD
Unaudited accounts
Contents
TWC CAPITAL LTD
Company Information
for the year ended 31 December 2022
Director
Timothy Wayne Cagle
Company Number
11771387 (England and Wales)
Registered Office
MICHELIN BUILDING
FULHAM ROAD
LONDON
SW3 6RD
ENGLAND
Accountants
Connect Accountants Ltd
Kemp House
160 City Road
London
England
EC1V 2NX
TWC CAPITAL LTD
Statement of financial position
as at 31 December 2022
Tangible assets
1,902
5,000
Investment property
9,176
9,176
Investments
1,443,464
190,926
Cash at bank and in hand
73,938
333,464
Creditors: amounts falling due within one year
(2,366,709)
(2,707,364)
Net current liabilities
(1,547,504)
(84,552)
Net (liabilities)/assets
(92,962)
120,550
Called up share capital
100
100
Fair value reserve
(68,130)
-
Profit and loss account
(24,932)
120,450
Shareholders' funds
(92,962)
120,550
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2023 and were signed on its behalf by
Timothy Wayne Cagle
Director
Company Registration No. 11771387
TWC CAPITAL LTD
Notes to the Accounts
for the year ended 31 December 2022
TWC CAPITAL LTD is a private company, limited by shares, registered in England and Wales, registration number 11771387. The registered office is MICHELIN BUILDING, FULHAM ROAD, LONDON, SW3 6RD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight line basis
Computer equipment
25% Straight line basis
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in shares are included at fair value.
TWC CAPITAL LTD
Notes to the Accounts
for the year ended 31 December 2022
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2022
9,352
3,038
12,390
At 31 December 2022
9,352
3,038
12,390
At 1 January 2022
6,224
1,166
7,390
Charge for the year
2,338
760
3,098
At 31 December 2022
8,562
1,926
10,488
At 31 December 2022
790
1,112
1,902
At 31 December 2021
3,128
1,872
5,000
Fair value at 1 January 2022
9,176
6
Investments
Other investments
Valuation at 1 January 2022
190,926
Valuation at 31 December 2022
1,443,464
Investment of £1,265,100 in Censornet Limited converted into equity.
Amounts falling due within one year
Amounts due from group undertakings etc.
61,479
61,479
Amounts falling due after more than one year
Amounts due from group undertakings etc.
675,788
2,219,869
8
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
-
26,591
Loans from directors
2,366,709
2,680,773
TWC CAPITAL LTD
Notes to the Accounts
for the year ended 31 December 2022
At the balance sheet date, included in Creditors is an amount owed to the director and shareholder, Mr T W Cagle for the sum of £2,366,709 (2020: £2,680,773).
10
Average number of employees
During the year the average number of employees was 1 (2021: 1).