Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activitytruetrue2022-08-01false00false 12106351 2022-08-01 2023-07-31 12106351 2021-08-01 2022-07-31 12106351 2023-07-31 12106351 2022-07-31 12106351 c:Director2 2022-08-01 2023-07-31 12106351 d:CurrentFinancialInstruments 2023-07-31 12106351 d:CurrentFinancialInstruments 2022-07-31 12106351 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12106351 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12106351 d:RetainedEarningsAccumulatedLosses 2023-07-31 12106351 d:RetainedEarningsAccumulatedLosses 2022-07-31 12106351 c:FRS102 2022-08-01 2023-07-31 12106351 c:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 12106351 c:FullAccounts 2022-08-01 2023-07-31 12106351 c:CompanyLimitedByGuarantee 2022-08-01 2023-07-31 12106351 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 12106351










EXHIBITIONS BY TWAM LIMITED
(A Company Limited by Guarantee)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
EXHIBITIONS BY TWAM LIMITED
 
(A Company Limited by Guarantee)
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EXHIBITIONS BY TWAM LIMITED
FOR THE YEAR ENDED 31 JULY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Exhibitions by TWAM Limited for the year ended 31 July 2023 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Exhibitions by TWAM Limited, as a body, in accordance with the terms of our engagement letter dated 8th March 2023Our work has been undertaken solely to prepare for your approval the financial statements of Exhibitions by TWAM Limited and state those matters that we have agreed to state to the Board of Directors of Exhibitions by TWAM Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Exhibitions by TWAM Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Exhibitions by TWAM 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 Exhibitions by TWAM Limited. You consider that Exhibitions by TWAM Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Exhibitions by TWAM 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.

  



Kinnair Associates Limited
 
Chartered Accountants
  
Aston House
Redburn Road
Newcastle upon Tyne
NE5 1NB
13 April 2024
Page 1

 
EXHIBITIONS BY TWAM LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 12106351

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
385,173
254,019

Cash at bank and in hand
 5 
231,239
142,076

  
616,412
396,095

Creditors: amounts falling due within one year
 6 
(154,260)
(134,902)

Net current assets
  
 
 
462,152
 
 
261,193

Total assets less current liabilities
  
462,152
261,193

  

Net assets
  
462,152
261,193


Capital and reserves
  

Profit and loss account
  
462,152
261,193

  
462,152
261,193


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 statement of income and retained earnings 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 12 April 2024.




J Reynolds-Sinclair
Director

Page 2

 
EXHIBITIONS BY TWAM LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 12106351
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
EXHIBITIONS BY TWAM LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of the registered office is Discovery Museum, Blandford Square, Newcastle upon Tyne NE1 4JA.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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:

The company's key source of revenue is through the provision of exhibition services. Revenue is recognised when:-
 - the amount of revenue can be reliably measured;
 - it is probably that future economic benefits will flow to the entity;
 - specific criteria have been met for each of the company's activities.

 
2.3

Taxation

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.

 
2.4

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.

Page 4

 
EXHIBITIONS BY TWAM LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).




4.


Debtors

2023
2022
£
£


Other debtors
14,005
-

Tax recoverable
371,168
254,019

385,173
254,019



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
231,239
142,076

231,239
142,076


Page 5

 
EXHIBITIONS BY TWAM LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
52,288
71,492

Other taxation and social security
-
27,042

Accruals and deferred income
101,972
36,368

154,260
134,902




7.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

Page 6