7 false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 09567032 2022-05-01 2023-04-30 09567032 2023-04-30 09567032 2022-04-30 09567032 2021-05-01 2022-04-30 09567032 2022-04-30 09567032 core:FurnitureFittings 2022-05-01 2023-04-30 09567032 bus:Director1 2022-05-01 2023-04-30 09567032 core:FurnitureFittings 2022-04-30 09567032 core:FurnitureFittings 2023-04-30 09567032 core:WithinOneYear 2023-04-30 09567032 core:WithinOneYear 2022-04-30 09567032 core:AfterOneYear 2023-04-30 09567032 core:AfterOneYear 2022-04-30 09567032 core:ShareCapital 2023-04-30 09567032 core:ShareCapital 2022-04-30 09567032 core:RetainedEarningsAccumulatedLosses 2023-04-30 09567032 core:RetainedEarningsAccumulatedLosses 2022-04-30 09567032 core:FurnitureFittings 2022-04-30 09567032 bus:SmallEntities 2022-05-01 2023-04-30 09567032 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 09567032 bus:FullAccounts 2022-05-01 2023-04-30 09567032 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 09567032 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 09567032 core:ComputerEquipment 2022-05-01 2023-04-30 09567032 core:ComputerEquipment 2022-04-30 09567032 core:ComputerEquipment 2023-04-30
COMPANY REGISTRATION NUMBER: 09567032
Twilo Creative Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2023
Twilo Creative Limited
Balance Sheet
30 April 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
18,827
20,313
Current assets
Debtors
6
45,500
19,411
Cash at bank and in hand
209,423
289,623
---------
---------
254,923
309,034
Creditors: amounts falling due within one year
7
39,139
62,018
---------
---------
Net current assets
215,784
247,016
---------
---------
Total assets less current liabilities
234,611
267,329
Creditors: amounts falling due after more than one year
8
20,833
30,833
Provisions
Taxation including deferred tax
3,577
3,859
---------
---------
Net assets
210,201
232,637
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
210,200
232,636
---------
---------
Shareholders funds
210,201
232,637
---------
---------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Twilo Creative Limited
Balance Sheet (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 3 November 2023 , and are signed on behalf of the board by:
W Ellison
Director
Company registration number: 09567032
Twilo Creative Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Crossgates House, Crossgates, Leeds, West Yorkshire, LS15 8ET, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements under FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts. These estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
Revenue recognition
Turnover comprises the sales value net of attributable VAT of work done in the period under contracts to supply goods and services to third parties.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Equipment
-
20% reducing balance
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 6 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 May 2022
2,975
35,292
38,267
Additions
133
2,489
2,622
-------
--------
--------
At 30 April 2023
3,108
37,781
40,889
-------
--------
--------
Depreciation
At 1 May 2022
1,527
16,427
17,954
Charge for the year
222
3,886
4,108
-------
--------
--------
At 30 April 2023
1,749
20,313
22,062
-------
--------
--------
Carrying amount
At 30 April 2023
1,359
17,468
18,827
-------
--------
--------
At 30 April 2022
1,448
18,865
20,313
-------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
45,268
19,411
Other debtors
232
--------
--------
45,500
19,411
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
900
720
Corporation tax
5,234
26,282
Social security and other taxes
20,057
17,919
Other creditors
2,948
7,097
--------
--------
39,139
62,018
--------
--------
Included in "Other creditors" is an amount of £188 (2022: £4,188) due to the director. The amount is unsecured, interest free and repayable on demand.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,833
30,833
--------
--------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
4,250
4,250
-------
-------
10. Director's advances, credits and guarantees
There are no transactions with the director that require disclosure under section 413 of the Companies Act 2006.