Acorah Software Products - Accounts Production 15.0.600 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 08473931 Danielle Hunt iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08473931 2023-04-30 08473931 2024-04-30 08473931 2023-05-01 2024-04-30 08473931 frs-core:CurrentFinancialInstruments 2024-04-30 08473931 frs-core:FurnitureFittings 2024-04-30 08473931 frs-core:FurnitureFittings 2023-05-01 2024-04-30 08473931 frs-core:FurnitureFittings 2023-04-30 08473931 frs-core:WithinOneYear 2024-04-30 08473931 frs-core:ShareCapital 2024-04-30 08473931 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 08473931 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08473931 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 08473931 frs-bus:SmallEntities 2023-05-01 2024-04-30 08473931 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08473931 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08473931 frs-bus:Director1 2023-05-01 2024-04-30 08473931 frs-core:CurrentFinancialInstruments 3 2024-04-30 08473931 frs-countries:EnglandWales 2023-05-01 2024-04-30 08473931 2022-04-30 08473931 2023-04-30 08473931 2022-05-01 2023-04-30 08473931 frs-core:CurrentFinancialInstruments 2023-04-30 08473931 frs-core:WithinOneYear 2023-04-30 08473931 frs-core:ShareCapital 2023-04-30 08473931 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 08473931 frs-core:CurrentFinancialInstruments 3 2023-04-30
Registered number: 08473931
Twin Productions Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Danielle Hunt
Company Number 08473931
Registered Office Studio 313 The Archives
Unit 10 High Cross Centre
Fountayne Road
London
N15 4BE
Accountants HJP Chartered
Audley House
Northbridge Road
Berkhamsted
Herts
HP4 1EH
Page 1
Page 2
Balance Sheet
Registered number: 08473931
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,994 9,082
6,994 9,082
CURRENT ASSETS
Debtors 5 622,091 110,016
Cash at bank and in hand 510,508 434,270
1,132,599 544,286
Creditors: Amounts Falling Due Within One Year 6 (1,001,148 ) (237,037 )
NET CURRENT ASSETS (LIABILITIES) 131,451 307,249
TOTAL ASSETS LESS CURRENT LIABILITIES 138,445 316,331
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,749 ) (2,271 )
NET ASSETS 136,696 314,060
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 136,695 314,059
SHAREHOLDERS' FUNDS 136,696 314,060
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Page 3
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Danielle Hunt
Director
15 August 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Twin Productions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08473931 . The registered office is Studio 313 The Archives , Unit 10 High Cross Centre, Fountayne Road, London, N15 4BE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The Presentation Currency
The accounts are presented in GBP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% straight line
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 4)
3 4
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 May 2023 21,726
Additions 463
As at 30 April 2024 22,189
Depreciation
As at 1 May 2023 12,644
Provided during the period 2,551
As at 30 April 2024 15,195
Net Book Value
As at 30 April 2024 6,994
As at 1 May 2023 9,082
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 473,152 100,128
Prepayments and accrued income 148,939 9,888
622,091 110,016
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 270,697 75,566
Corporation tax 33,468 51,961
Other taxes and social security - 2,466
VAT 147,719 18,690
Other creditors 28,039 1,991
Deferred income 510,449 25,088
Accruals 10,452 61,211
Director's loan account 324 64
1,001,148 237,037
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Page 6
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 3,228 2,850
3,228 2,850
9. Related Party Transactions
At the end of the year the company owed its director £324 (2023 - £64).
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