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Registered Number: 08205257
England and Wales

 

 

 

A R TWIGG & SON LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 6,245    7,357 
6,245    7,357 
Current assets      
Stocks 93,827    27,534 
Debtors 146,106    120,385 
Cash at bank and in hand 663,378    658,686 
903,311    806,605 
Creditors: amount falling due within one year (151,752)   (150,246)
Net current assets 751,559    656,359 
 
Total assets less current liabilities 757,804    663,716 
Provisions for liabilities (1,187)   (1,398)
Net assets 756,617    662,318 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 756,517    662,218 
Shareholder's funds 756,617    662,318 
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 16 October 2023 and were signed on its behalf by:


-------------------------------
Mrs E J Abbot
Director
1
General Information
A R Twigg & Son Limited is a private company, limited by shares, registered in England and Wales, registration number 08205257, registration address Merlin House , Brunel Road, Theale, Reading, Berkshire, RG7 4AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.


Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover represents net sales of services, excluding value added tax, as adjusted for work in progress.  For service contracts income is recognised when the company obtains the right to consideration.
Operating lease agreements
Rentals paid under operating leases are charged to profit or loss on a straight line casis over the period of the lease.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
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.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Improvements to property - 20% on cost
Plant & Machinery - 33% on cost
Furniture & Fixtures - 15% on cost
Motor Vehicles - 20% on cost
Computer equipment - 33% on cost


At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. 
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
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.
2.

Average number of employees

Average number of employees during the year was 9 (2022 : 8).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 February 2022 120,000    120,000 
Additions  
Disposals  
At 31 January 2023 120,000    120,000 
Amortisation
At 01 February 2022 120,000    120,000 
Charge for year  
On disposals  
At 31 January 2023 120,000    120,000 
Net book values
At 31 January 2023  
At 31 January 2022  


4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 February 2022 74,761    74,761 
Additions 5,603    5,603 
Disposals  
At 31 January 2023 80,364    80,364 
Depreciation
At 01 February 2022 67,404    67,404 
Charge for year 6,715    6,715 
On disposals  
At 31 January 2023 74,119    74,119 
Net book values
Closing balance as at 31 January 2023 6,245    6,245 
Opening balance as at 01 February 2022 7,357    7,357 


5.

Debtors: amounts falling due within one year

.   2023
£
  2022
£
Trade Debtors 144,696  99,142 
Prepayments & Accrued Income 1,410  3,043 
Other Debtors 18,200 
146,106  120,385 

6.

Creditors: amounts falling due within one year

.   2023
£
  2022
£
Trade Creditors 69,254  69,384 
Corporation Tax 35,068  31,211 
PAYE & Social Security 4,573  4,390 
Other Creditors 26,454  27,571 
VAT 16,403  17,690 
151,752  150,246 

7.

Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
.   2023
£
  2022
£
Within one year 8,178  8,178 
Between one and five years 32,712  32,712 
In more than five years 4,089  4,429 
44,979  45,319 

8.

Ultimate Controlling Party

The company is under the control of its directors, who, has husband and wife, jointly own 100% of the issued share capital.
2