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REGISTERED NUMBER: 03574025 (England and Wales)









Financial Statements

for the Year Ended 31 December 2022

for

Two Tower Optics Limited

Two Tower Optics Limited (Registered number: 03574025)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Two Tower Optics Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: E Sharvelle
Mrs D M Beth
Ms E V Heurlin





SECRETARY: Stalia Services Limited





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 03574025 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Two Tower Optics Limited (Registered number: 03574025)

Statement of Financial Position
31 December 2022

2022 2021
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 2,008 2,096

CURRENT ASSETS
Inventories 27,187 54,804
Debtors 5 388,934 630,774
Cash at bank 219,251 108,839
635,372 794,417
CREDITORS
Amounts falling due within one year 6 (254,684 ) (249,837 )
NET CURRENT ASSETS 380,688 544,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,696

546,676

PROVISIONS FOR LIABILITIES (385 ) (385 )
NET ASSETS 382,311 546,291

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 382,211 546,191
SHAREHOLDERS' FUNDS 382,311 546,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:





Mrs D M Beth - Director


Two Tower Optics Limited (Registered number: 03574025)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Two Tower Optics 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 33.33% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

Two Tower Optics Limited (Registered number: 03574025)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 January 2022 21,171
Additions 2,107
At 31 December 2022 23,278
DEPRECIATION
At 1 January 2022 19,075
Charge for year 2,195
At 31 December 2022 21,270
NET BOOK VALUE
At 31 December 2022 2,008
At 31 December 2021 2,096

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 214,574 368,017
Amounts owed by group undertakings 167,541 256,456
Prepayments & accrued income 6,819 6,301
388,934 630,774

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 104,010 114,686
Tax 2,934 31
Social security & other taxes - 2,188
Value added tax 141,595 126,885
Directors' current accounts 1,445 1,445
Accruals & deferred income 4,700 4,602
254,684 249,837