Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28false2022-03-01No description of principal activity98falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04331885 2022-03-01 2023-02-28 04331885 2021-03-01 2022-02-28 04331885 2023-02-28 04331885 2022-02-28 04331885 c:Director1 2022-03-01 2023-02-28 04331885 d:Buildings d:ShortLeaseholdAssets 2022-03-01 2023-02-28 04331885 d:PlantMachinery 2022-03-01 2023-02-28 04331885 d:MotorVehicles 2022-03-01 2023-02-28 04331885 d:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 04331885 d:OtherPropertyPlantEquipment 2023-02-28 04331885 d:OtherPropertyPlantEquipment 2022-02-28 04331885 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 04331885 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 04331885 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 04331885 d:ShareCapital 2023-02-28 04331885 d:ShareCapital 2022-02-28 04331885 d:RetainedEarningsAccumulatedLosses 2023-02-28 04331885 d:RetainedEarningsAccumulatedLosses 2022-02-28 04331885 c:OrdinaryShareClass1 2022-03-01 2023-02-28 04331885 c:OrdinaryShareClass1 2023-02-28 04331885 c:OrdinaryShareClass1 2022-02-28 04331885 c:FRS102 2022-03-01 2023-02-28 04331885 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 04331885 c:AbridgedAccounts 2022-03-01 2023-02-28 04331885 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04331885 2 2022-03-01 2023-02-28 04331885 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 04331885 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04331885









TWO-SHOT MOULDING LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
TWO-SHOT MOULDING LIMITED
REGISTERED NUMBER: 04331885

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
73,200
97,858

  
73,200
97,858

Current assets
  

Stocks
  
41,035
26,227

Debtors
  
123,721
159,523

Cash at bank and in hand
  
333,731
339,170

  
498,487
524,920

Creditors: amounts falling due within one year
  
(109,465)
(129,201)

Net current assets
  
 
 
389,022
 
 
395,719

Total assets less current liabilities
  
462,222
493,577

Provisions for liabilities
  
(12,245)
(16,579)

Net assets
  
449,977
476,998

Page 1

 
TWO-SHOT MOULDING LIMITED
REGISTERED NUMBER: 04331885
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
 6 
40,002
40,002

Profit and loss account
  
409,975
436,996

  
449,977
476,998


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2023.




P. R. Talbott
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
TWO-SHOT MOULDING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Two-Shot Moulding Limited is a private company limited by shares, registered in England and Wales, registration number 04331885.  The registered office and principal place of business is 214 Bellingdon Road, Chesham, Buckinghamshire, HP5 2NN.

The company's principal activity during the year continues to be that of the manufacture of plastic products.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
TWO-SHOT MOULDING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
TWO-SHOT MOULDING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Evenly over the period of the lease
Plant and machinery
-
15%
Reducing Balance
Motor vehicles
-
25%
Straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
TWO-SHOT MOULDING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's  cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 8).

Page 6

 
TWO-SHOT MOULDING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets






£



Cost or valuation


At 1 March 2022
705,770


Additions
525



At 28 February 2023

706,295



Depreciation


At 1 March 2022
607,912


Charge for the year on owned assets
25,183



At 28 February 2023

633,095



Net book value



At 28 February 2023
73,200



At 28 February 2022
97,858


5.


Deferred taxation




2023


£






At beginning of year
(16,579)


Charged to profit or loss
4,334



At end of year
(12,245)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(12,245)
(16,579)

(12,245)
(16,579)

Page 7

 
TWO-SHOT MOULDING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



40,002 (2022 - 40,002) Ordinary shares of £1.00 each
40,002
40,002


 
Page 8