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Registration number: 13433442

TwoCan New Homes Consultants Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 September 2022 to 6 June 2023

 

TwoCan New Homes Consultants Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

TwoCan New Homes Consultants Ltd

Company Information

Directors

Mrs A Gardner

Mr S R Gardner

Registered office

37 St Christophers Court
Maritime Quarter
Swansea
SA1 1UA

 

TwoCan New Homes Consultants Ltd

(Registration number: 13433442)
Balance Sheet as at 6 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

1,859

Current assets

 

Debtors

5

631

4,200

Cash at bank and in hand

 

3

8,950

 

634

13,150

Creditors: Amounts falling due within one year

6

(1,296)

(9,659)

Net current (liabilities)/assets

 

(662)

3,491

Net (liabilities)/assets

 

(662)

5,350

Capital and reserves

 

Called up share capital

190

190

Capital redemption reserve

95

-

Profit and loss account

(947)

5,160

Total equity

 

(662)

5,350

For the financial period ending 6 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

TwoCan New Homes Consultants Ltd

(Registration number: 13433442)
Balance Sheet as at 6 June 2023

Approved and authorised by the Board on 15 March 2024 and signed on its behalf by:
 

.........................................
Mrs A Gardner
Director

.........................................
Mr S R Gardner
Director

 
     
 

TwoCan New Homes Consultants Ltd

Notes to the Financial Statements for the Period from 1 September 2022 to 6 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
37 St Christophers Court
Maritime Quarter
Swansea
SA1 1UA

These financial statements were authorised for issue by the Board on 15 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

TwoCan New Homes Consultants Ltd

Notes to the Financial Statements for the Period from 1 September 2022 to 6 June 2023

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% Straight Line Method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

TwoCan New Homes Consultants Ltd

Notes to the Financial Statements for the Period from 1 September 2022 to 6 June 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2022 - 2).

 

TwoCan New Homes Consultants Ltd

Notes to the Financial Statements for the Period from 1 September 2022 to 6 June 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 September 2022

1,859

1,859

Disposals

(1,859)

(1,859)

At 6 June 2023

-

-

Depreciation

Carrying amount

At 6 June 2023

-

-

At 31 August 2022

1,859

1,859

5

Debtors

2023
£

2022
£

Trade debtors

-

4,200

Other debtors

631

-

631

4,200

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

-

300

Other related parties

 

-

6,598

Corporation tax liability

 

-

644

Other creditors

 

1,296

2,117

 

1,296

9,659

 

TwoCan New Homes Consultants Ltd

Notes to the Financial Statements for the Period from 1 September 2022 to 6 June 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

95

95

95

95

A Ordinary of £1 each

-

-

95

95

B Ordinary of £1 (2022 - £0) each

95

95

-

-

 

190

190

190

190

8

Related party transactions

Transactions with directors

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 6 June 2023
£

Mrs A Gardner

Interest free loan repayable on demand

(5,782)

5,782

-

-

         
       

Ms C E Brown

Interest free loan repayable on demand

(816)

816

-

-

         
       

 

2022

At 2 June 2021
£

Other payments made to company by director
£

At 31 August 2022
£

Mrs A Gardner

Interest free loan repayable on demand

-

5,782

(5,782)

       
     

Ms C E Brown

Interest free loan repayable on demand

-

816

(816)