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REGISTERED NUMBER: 03141193 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

TWYCROSS ESTATES LIMITED

TWYCROSS ESTATES LIMITED (REGISTERED NUMBER: 03141193)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TWYCROSS ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: D R England
S J England
Mrs S Paice





SECRETARY: Mrs S M England





REGISTERED OFFICE: High Cross Building
Lancaster Road
Hinckley
Leicestershire
LE10 0AW





REGISTERED NUMBER: 03141193 (England and Wales)





ACCOUNTANTS: PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY

TWYCROSS ESTATES LIMITED (REGISTERED NUMBER: 03141193)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 816,000 776,000
816,000 776,000

CURRENT ASSETS
Debtors 7 479,155 507,165
Cash at bank 125,552 93,475
604,707 600,640
CREDITORS
Amounts falling due within one year 8 5,463 11,834
NET CURRENT ASSETS 599,244 588,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,415,244

1,364,806

CAPITAL AND RESERVES
Called up share capital 9 1 1
Other reserves 10 91,400 51,400
Retained earnings 10 1,323,843 1,313,405
SHAREHOLDERS' FUNDS 1,415,244 1,364,806

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

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

TWYCROSS ESTATES LIMITED (REGISTERED NUMBER: 03141193)

BALANCE SHEET - continued
31 JANUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:




Mrs S Paice - Director



S J England - Director


TWYCROSS ESTATES LIMITED (REGISTERED NUMBER: 03141193)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Twycross Estates 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover
Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities. The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

The company's principal source of revenue in rental income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TWYCROSS ESTATES LIMITED (REGISTERED NUMBER: 03141193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

3. ACCOUNTING POLICIES - continued

Financial instruments

Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Rental income
Rental income is accounted for on a receivable basis.

Bank interest
On new developments, bank interest is capitalised up to the date the whole development is available for letting, after which date the interest is charged to Profit and Loss Account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

TWYCROSS ESTATES LIMITED (REGISTERED NUMBER: 03141193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
At 1 February 2022
and 31 January 2023 4,015
DEPRECIATION
At 1 February 2022
and 31 January 2023 4,015
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

6. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 February 2022 776,000
Revaluations 40,000
At 31 January 2023 816,000
NET BOOK VALUE
At 31 January 2023 816,000
At 31 January 2022 776,000

Cost or valuation at 31 January 2023 is represented by:
£   
Valuation in 2023 816,000

If Investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 728,436 728,436

Investment property was valued on an open market basis on 31 January 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,617 (6,000 )
Amounts owed by group undertakings 464,200 489,200
Other debtors 11,338 11,338
Prepayments - 12,627
479,155 507,165

TWYCROSS ESTATES LIMITED (REGISTERED NUMBER: 03141193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 2,448 9,719
Accrued expenses 3,015 2,115
5,463 11,834

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 February 2022 1,313,405 51,400 1,364,805
Profit for the year 50,438 50,438
Movement in the year - 40,000 40,000
Transfer on revaluation (40,000 ) - (40,000 )
At 31 January 2023 1,323,843 91,400 1,415,243

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D R England by reason of his controlling interest in the shares of the parent company, D R E Group Limited.