REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
TWILIGHT YEARS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
TWILIGHT YEARS LIMITED |
TWILIGHT YEARS LIMITED (REGISTERED NUMBER: 05409029) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
TWILIGHT YEARS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BANKERS: |
86-88 Dalton Road |
Barrow in Furness |
Cumbria |
LA14 1JF |
TWILIGHT YEARS LIMITED (REGISTERED NUMBER: 05409029) |
ABRIDGED BALANCE SHEET |
31 MARCH 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
TWILIGHT YEARS LIMITED (REGISTERED NUMBER: 05409029) |
ABRIDGED BALANCE SHEET - continued |
31 MARCH 2023 |
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 director and authorised for issue on |
TWILIGHT YEARS LIMITED (REGISTERED NUMBER: 05409029) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Twilight Years Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services, excluding VAT. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, has been fully amortised in prior periods. |
Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Government grants |
Grants received are credited to profit and loss account in the financial period in which they are received. |
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. |
Employer financed retirement benefit scheme |
The company has established an employer financed retirement benefit scheme for the benefit of its officers, |
employees and their wider families: The Twilight Years Limited Employer Financed Retirement Benefit Scheme ("The Scheme"). |
In accordance with UITF abstract 32 "Employee Benefit Trusts and Other Intermediate Payment Arrangements" the company does not include the assets and liabilities of The Scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or other access to those present economic benefits. |
The Scheme is currently in the process of being settled with HM Revenue and Customs. |
TWILIGHT YEARS LIMITED (REGISTERED NUMBER: 05409029) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Employee benefit trust |
The company has established an Employee Benefit Trust, a discretionary trust created to provide benefits to |
employees of the company: The Twilight Years Limited 2016 Employee Benefit Trust ("The Scheme"). |
In accordance with UITF abstract 32 "Employee Benefit Trusts and Other Intermediate Payment Arrangements" the company does not include the assets and liabilities of The Scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or other access to those present economic benefits. |
The Scheme is currently in the process of being settled with HM Revenue and Customs. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
AMORTISATION |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
TWILIGHT YEARS LIMITED (REGISTERED NUMBER: 05409029) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.3.23 | 31.3.22 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 26,754 | 69,425 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans |
Barclays Bank plc hold a Debenture and Legal Charge secured over all assets of the company. At the end of this financial year the company had outstanding obligations of £213,812 to Barclays Bank Plc. (Prior year £247,815). |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.23 | 31.3.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022: |
31.3.23 | 31.3.22 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
During the financial year the director was charged £6,434 interest on the loan which is unsecured and repayable on demand.(2022 : £2,592) |
10. | RELATED PARTY DISCLOSURES |
Twilight Years Limited occupy premises owned by Mrs M E J Geldart and paid rent of £3,600 in the year. |
(Prior year £3,600). |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |