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REGISTERED NUMBER: 05409029 (England and Wales)
























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: Mrs M E J Geldart



REGISTERED OFFICE: 114 Rawlinson Street
Barrow in Furness
Cumbria
LA14 2DG



REGISTERED NUMBER: 05409029 (England and Wales)



BANKERS: Barclays Bank plc
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 5 833 1,720
833 1,720

CURRENT ASSETS
Debtors 753,113 654,608
Cash at bank 79,684 111,634
832,797 766,242
CREDITORS
Amounts falling due within one year 263,839 255,480
NET CURRENT ASSETS 568,958 510,762
TOTAL ASSETS LESS CURRENT
LIABILITIES

569,791

512,482

CREDITORS
Amounts falling due after more than one
year

6

179,719

215,302
NET ASSETS 390,072 297,180

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 389,972 297,080
SHAREHOLDERS' FUNDS 390,072 297,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

TWILIGHT YEARS LIMITED (REGISTERED NUMBER: 05409029)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 October 2023 and were signed by:





Mrs M E J Geldart - Director


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 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 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 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

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 142 (2022 - 83 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 100,000
AMORTISATION
At 1 April 2022
and 31 March 2023 100,000
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 31,336
DEPRECIATION
At 1 April 2022 29,616
Charge for year 887
At 31 March 2023 30,503
NET BOOK VALUE
At 31 March 2023 833
At 31 March 2022 1,720

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 213,812 247,815

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: £    £   
100 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
£    £   
Mrs M E J Geldart
Balance outstanding at start of year 37,986 18,789
Amounts advanced 45,340 37,986
Amounts repaid (37,986 ) (18,789 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 45,340 37,986

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 Mrs M E J Geldart.