Company registration number 10191438 (England and Wales)
TWIN BUSCH UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TWIN BUSCH UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
TWIN BUSCH UK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,983
130
Current assets
Stocks
117,565
201,675
Debtors
5
9,893
25,420
Cash at bank and in hand
84,353
78,283
211,811
305,378
Creditors: amounts falling due within one year
6
(101,338)
(257,812)
Net current assets
110,473
47,566
Net assets
115,456
47,696
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
115,356
47,596
Total equity
115,456
47,696

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 6 August 2024
Mr D D Busch
Director
Company Registration No. 10191438
TWIN BUSCH UK LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Twin Busch UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 9A Linnell Way, Telford Way Industrial Estate, Kettering, Northamptonshire, United Kingdom, NN16 8PS.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Going concern

In assessing the apppropriateness of the going concern assumption, the Director has reviewed the financial position, considering all reasonably foreseeable potential scenarios and uncertainties in relation to revenue and expenditure. Based on this review, the Director has reasonable expectation that the company can meet its liabilities as they fall due and the Director has therefore concluded it appropriate for the financial statements to be prepared on the going concern basis.true

2.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% on cost
Motor vehicles
25% on cost
2.5
Stocks

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

TWIN BUSCH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2
Accounting policies
(Continued)
- 3 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2.8

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
TWIN BUSCH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
4,804
3,795
8,599
Additions
-
0
4,929
4,929
Disposals
-
0
(3,795)
(3,795)
At 31 December 2023
4,804
4,929
9,733
Depreciation and impairment
At 1 January 2023
4,711
3,758
8,469
Depreciation charged in the year
6
70
76
Eliminated in respect of disposals
-
0
(3,795)
(3,795)
At 31 December 2023
4,717
33
4,750
Carrying amount
At 31 December 2023
87
4,896
4,983
At 31 December 2022
93
37
130
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
8,610
24,529
Other debtors
100
100
Prepayments and accrued income
1,183
791
9,893
25,420
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,333
207,456
Corporation tax
17,976
-
0
Other taxation and social security
73,669
43,709
Other creditors
1,960
987
Accruals and deferred income
5,400
5,660
101,338
257,812
TWIN BUSCH UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
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