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REGISTERED NUMBER: 04601787 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 March 2023

for

Touch Wood Enterprises Limited

Touch Wood Enterprises Limited (Registered number: 04601787)






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

Chartered Accountants' Report 9

Touch Wood Enterprises Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J Cooper
T S J Harms





REGISTERED OFFICE: Bower Ashton Wood Yard
Kennel Lodge Road
Ashton
Bristol
City of Bristol
BS3 2JT





REGISTERED NUMBER: 04601787 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Touch Wood Enterprises Limited (Registered number: 04601787)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 224,004 144,362
224,004 144,362

CURRENT ASSETS
Stocks 377,066 285,557
Debtors 6 467,612 173,383
Cash at bank and in hand 101,800 797,954
946,478 1,256,894
CREDITORS
Amounts falling due within one year 7 690,348 1,127,435
NET CURRENT ASSETS 256,130 129,459
TOTAL ASSETS LESS CURRENT LIABILITIES 480,134 273,821

CREDITORS
Amounts falling due after more than one year 8 (104,484 ) (89,690 )

PROVISIONS FOR LIABILITIES (48,453 ) (37,959 )
NET ASSETS 327,197 146,172

CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium 11 8,970 8,970
Revaluation reserve 11 27,664 27,664
Retained earnings 11 290,463 109,438
SHAREHOLDERS' FUNDS 327,197 146,172

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.

Touch Wood Enterprises Limited (Registered number: 04601787)

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 31 August 2023 and were signed on its behalf by:





T S J Harms - Director


Touch Wood Enterprises Limited (Registered number: 04601787)

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

1. STATUTORY INFORMATION

Touch Wood Enterprises 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - at variable rates on cost
Plant and machinery - at variable rates on cost
Motor vehicles - at variable rates on cost
Computer equipment - at variable rates on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Touch Wood Enterprises Limited (Registered number: 04601787)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 39 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 10,000
AMORTISATION
At 1 April 2022
and 31 March 2023 10,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2022 15,528 11,618 86,125
Additions - - 56,661
Disposals - - -
At 31 March 2023 15,528 11,618 142,786
DEPRECIATION
At 1 April 2022 13,987 824 18,344
Charge for year 1,541 2,322 23,573
Eliminated on disposal - - -
At 31 March 2023 15,528 3,146 41,917
NET BOOK VALUE
At 31 March 2023 - 8,472 100,869
At 31 March 2022 1,541 10,794 67,781

Touch Wood Enterprises Limited (Registered number: 04601787)

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

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 16,148 147,186 37,532 314,137
Additions 14,050 59,439 5,657 135,807
Disposals - (2,959 ) - (2,959 )
At 31 March 2023 30,198 203,666 43,189 446,985
DEPRECIATION
At 1 April 2022 16,148 93,844 26,628 169,775
Charge for year 2,381 15,084 5,346 50,247
Eliminated on disposal - 2,959 - 2,959
At 31 March 2023 18,529 111,887 31,974 222,981
NET BOOK VALUE
At 31 March 2023 11,669 91,779 11,215 224,004
At 31 March 2022 - 53,342 10,904 144,362

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 15,500 57,920 73,420
Additions - 58,039 58,039
At 31 March 2023 15,500 115,959 131,459
DEPRECIATION
At 1 April 2022 12,400 46,336 58,736
Charge for year 3,100 11,584 14,684
At 31 March 2023 15,500 57,920 73,420
NET BOOK VALUE
At 31 March 2023 - 58,039 58,039
At 31 March 2022 3,100 11,584 14,684

6. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 208,593 78,722
Other debtors 141,488 21,681
Directors' current accounts - 1,500
Prepayments 90,646 44,595
440,727 146,498

Touch Wood Enterprises Limited (Registered number: 04601787)

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

6. DEBTORS - continued
31.3.23 31.3.22
£    £   
Amounts falling due after more than one year:
Other debtors 26,885 26,885

Aggregate amounts 467,612 173,383

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 14,281 12,057
Hire purchase contracts 42,878 12,057
Trade creditors 186,663 317,757
Tax 29,331 17,957
Social security and other taxes 31,440 24,686
VAT 45,254 124,900
Other creditors 77,182 64,742
Directors' current accounts 29,760 15,012
Accruals and deferred income 233,559 538,267
690,348 1,127,435

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 14,281 14,281
Bank loans - 2-5 years 15,727 30,564
Hire purchase contracts 74,476 44,845
104,484 89,690

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 117,354 56,902

Hire purchase arrangements are secured against the assets indicated in the tangible fixed asset note.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
30 Ordinary B £1 30 30

Allotted and issued:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
69 Ordinary A £1 69 69
1 Ordinary C £1 1 1
70 70

Touch Wood Enterprises Limited (Registered number: 04601787)

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

11. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 April 2022 109,438 8,970 27,664 146,072
Profit for the year 193,525 193,525
Dividends (12,500 ) (12,500 )
At 31 March 2023 290,463 8,970 27,664 327,097

12. PENSION COMMITMENTS

The company operated a defined contribution pension scheme.

During the financial year, employer contributions totalled £27,669.08 (2022 £19,470.31).

At the period end, the pension contributions outstanding totalled £7,468.42 (2022 £9,765.03).

13. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the total operating lease commitments for the company were £ (2022 £39,552).

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Touch Wood Enterprises Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Touch Wood Enterprises Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Touch Wood Enterprises Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Touch Wood Enterprises Limited and state those matters that we have agreed to state to the Board of Directors of Touch Wood Enterprises Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Touch Wood Enterprises Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Touch Wood Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Touch Wood Enterprises Limited. You consider that Touch Wood Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Touch Wood Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY


31 August 2023