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REGISTERED NUMBER: 06548780 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Two Associates Limited

Two Associates Limited (Registered number: 06548780)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Two Associates Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S A Causer
W Smith





SECRETARY: S A Causer





REGISTERED OFFICE: 3rd Floor
Manor House
1 The Crescent
Leatherhead
Surrey
KT22 8DY





REGISTERED NUMBER: 06548780 (England and Wales)





ACCOUNTANTS: Mulberry & Co
Chartered Certified Accountants
& Chartered Tax Advisers
9 Pound Lane
Godalming
Surrey
GU7 1BX

Two Associates Limited (Registered number: 06548780)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 131,443 236,168

CURRENT ASSETS
Debtors 5 263,071 98,761
Prepayments and accrued income 60,952 47,790
Cash at bank and in hand 487,293 971,789
811,316 1,118,340
CREDITORS
Amounts falling due within one year 6 (163,990 ) (327,386 )
NET CURRENT ASSETS 647,326 790,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

778,769

1,027,122

CREDITORS
Amounts falling due after more than one year 7 (228,362 ) (273,779 )

ACCRUALS AND DEFERRED INCOME (1,000 ) (1,000 )
NET ASSETS 549,407 752,343

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 549,207 752,143
SHAREHOLDERS' FUNDS 549,407 752,343

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 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.

Two Associates Limited (Registered number: 06548780)

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.

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 25 August 2023 and were signed on its behalf by:




S A Causer - Director



W Smith - Director


Two Associates Limited (Registered number: 06548780)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Two Associates 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.

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 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% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 28 ) .

Two Associates Limited (Registered number: 06548780)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 8,675 111,796 417,846 383,081 921,398
Additions - 2,531 - 19,333 21,864
At 31 March 2023 8,675 114,327 417,846 402,414 943,262
DEPRECIATION
At 1 April 2022 6,506 102,618 231,908 344,198 685,230
Charge for year 2,169 6,959 87,972 29,489 126,589
At 31 March 2023 8,675 109,577 319,880 373,687 811,819
NET BOOK VALUE
At 31 March 2023 - 4,750 97,966 28,727 131,443
At 31 March 2022 2,169 9,178 185,938 38,883 236,168

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 242,531 75,460
Other debtors 20,540 23,301
263,071 98,761

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 47,106 45,532
Amounts owed to group undertakings 3,625 83,033
Taxation and social security 97,936 189,891
Other creditors 15,323 8,930
163,990 327,386

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 228,362 273,779