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Company No: 06006910 (England and Wales)

TWENTY20 DECOR LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

TWENTY20 DECOR LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

TWENTY20 DECOR LIMITED

BALANCE SHEET

As at 30 April 2023
TWENTY20 DECOR LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Current assets
Debtors 4 287,746 244,952
Cash at bank and in hand 12,846 23,714
300,592 268,666
Creditors: amounts falling due within one year 5 ( 223,200) ( 258,559)
Net current assets 77,392 10,107
Total assets less current liabilities 77,392 10,107
Creditors: amounts falling due after more than one year 6 ( 29,542) ( 40,102)
Net assets/(liabilities) 47,850 ( 29,995)
Capital and reserves
Called-up share capital 7 85 85
Profit and loss account 47,765 ( 30,080 )
Total shareholders' funds/(deficit) 47,850 ( 29,995)

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Twenty20 Decor Limited (registered number: 06006910) were approved and authorised for issue by the Board of Directors on 23 October 2023. They were signed on its behalf by:

Hugh Mcateer
Director
TWENTY20 DECOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
TWENTY20 DECOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Twenty20 Decor Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nexus House, 2 Cray Road, Sidcup, DA14 5DA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

4. Debtors

2023 2022
£ £
Trade debtors 174,781 88,731
Other debtors 112,965 156,221
287,746 244,952

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,533 10,533
Trade creditors 48,159 115,193
Taxation and social security 141,108 106,873
Other creditors 23,400 25,960
223,200 258,559

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 29,542 40,102

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
35 Ordinary A shares of £ 1.00 each 35 35
50 Ordinary B shares of £ 1.00 each 50 50
85 85

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
H McAteer (3,731) (10,731)
A Bale 0 0