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Registered number: 08474585









TWSA GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
TWSA GROUP LIMITED
REGISTERED NUMBER: 08474585

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
3,000

Tangible assets
 5 
323,369
376,669

  
323,369
379,669

Current assets
  

Debtors: amounts falling due within one year
 6 
263,299
740,308

Cash at bank and in hand
 7 
1,080,595
926,308

  
1,343,894
1,666,616

Creditors: amounts falling due within one year
 8 
(480,468)
(587,922)

Net current assets
  
 
 
863,426
 
 
1,078,694

Total assets less current liabilities
  
1,186,795
1,458,363

Creditors: amounts falling due after more than one year
 9 
-
(28,568)

Provisions for liabilities
  

Deferred tax
 10 
(19,328)
(23,548)

  
 
 
(19,328)
 
 
(23,548)

Net assets
  
1,167,467
1,406,247


Capital and reserves
  

Called up share capital 
  
800
800

Profit and loss account
  
1,166,667
1,405,447

  
1,167,467
1,406,247


Page 1

 
TWSA GROUP LIMITED
REGISTERED NUMBER: 08474585
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The director considers 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 director acknowledges his 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 by: 




M P Townshend
Director

Date: 30 July 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
TWSA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

TWSA Group Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Ground Floor, 45 Pall Mall, London, England, SW1Y 5JG.
The principal activity of the company continued to be that of construction installation.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. Income is recognised when the right to income is earned.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

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.

Page 3

 
TWSA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
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, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
25%
straight line
Office equipment
-
25%
straight line

Page 4

 
TWSA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.8

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 5 (2022 - 8).


4.


Intangible assets




Trademarks

£



Cost


At 1 October 2022
60,000



At 30 September 2023

60,000



Amortisation


At 1 October 2022
57,000


Charge for the year on owned assets
3,000



At 30 September 2023

60,000



Net book value



At 30 September 2023
-



At 30 September 2022
3,000



Page 5

 
TWSA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Tangible fixed assets





Freehold property
Leasehold Improve-ments
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 October 2022
297,186
2,017
235,447
42,414
7,706



At 30 September 2023

297,186
2,017
235,447
42,414
7,706



Depreciation


At 1 October 2022
50,524
-
123,542
26,612
7,424


Charge for the year on owned assets
5,944
-
39,370
7,902
83



At 30 September 2023

56,468
-
162,912
34,514
7,507



Net book value



At 30 September 2023
240,718
2,017
72,535
7,900
199



At 30 September 2022
246,662
2,017
111,905
15,803
282
Page 6

 
TWSA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 October 2022
584,770



At 30 September 2023

584,770



Depreciation


At 1 October 2022
208,102


Charge for the year on owned assets
53,299



At 30 September 2023

261,401



Net book value



At 30 September 2023
323,369



At 30 September 2022
376,669


6.


Debtors

2023
2022
£
£


Trade debtors
145,120
100,275

Other debtors
36,063
555,501

Prepayments and accrued income
8,687
11,103

Corporation tax recoverable
73,429
73,429

263,299
740,308


Page 7

 
TWSA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,080,595
926,308

1,080,595
926,308



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
28,817
31,063

Trade creditors
(22,409)
11,822

Corporation tax
98,269
104,307

Other taxation and social security
47,600
58,740

Other creditors
2,300
2,189

Accruals and deferred income
325,891
379,801

480,468
587,922



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
28,568

-
28,568



10.


Deferred taxation




2023


£






At beginning of year
(23,548)


Charged to profit or loss
4,220



At end of year
(19,328)

Page 8

 
TWSA GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
 
10.Deferred taxation (continued)

2023
2022
£
£


Accelerated capital allowances
(19,328)
(23,548)

(19,328)
(23,548)


11.


Related party transactions

At the balance sheet date, the director owed the company £36,063 (2022: £555,501). This balance was repaid within 9 months of the balance sheet date.

 
Page 9