Twiggs Properties Ltd 12491684 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Investment property Digita Accounts Production Advanced 6.30.9574.0 true 12491684 2023-04-01 2024-03-31 12491684 2024-03-31 12491684 bus:Director1 1 2024-03-31 12491684 bus:Director2 1 2024-03-31 12491684 bus:OrdinaryShareClass1 2024-03-31 12491684 core:CurrentFinancialInstruments 2024-03-31 12491684 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12491684 core:Non-currentFinancialInstruments 2024-03-31 12491684 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12491684 bus:SmallEntities 2023-04-01 2024-03-31 12491684 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12491684 bus:FullAccounts 2023-04-01 2024-03-31 12491684 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12491684 bus:RegisteredOffice 2023-04-01 2024-03-31 12491684 bus:Director1 2023-04-01 2024-03-31 12491684 bus:Director1 1 2023-04-01 2024-03-31 12491684 bus:Director2 2023-04-01 2024-03-31 12491684 bus:Director2 1 2023-04-01 2024-03-31 12491684 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12491684 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12491684 countries:AllCountries 2023-04-01 2024-03-31 12491684 2023-03-31 12491684 bus:Director1 1 2023-03-31 12491684 bus:Director2 1 2023-03-31 12491684 2022-04-01 2023-03-31 12491684 2023-03-31 12491684 bus:OrdinaryShareClass1 2023-03-31 12491684 core:CurrentFinancialInstruments 2023-03-31 12491684 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12491684 core:Non-currentFinancialInstruments 2023-03-31 12491684 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12491684

Twiggs Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Twiggs Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Twiggs Properties Ltd

Company Information

Directors

Mr J Twigg

Mrs W Twigg

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Limited
Chartered Certified Accountants
2 Western Street
Barnsley
S70 2BP

 

Twiggs Properties Ltd

(Registration number: 12491684)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

3

277,877

242,862

Current assets

 

Debtors

4

10,000

-

Cash at bank and in hand

 

12,644

101,525

 

22,644

101,525

Creditors: Amounts falling due within one year

5

(8,071)

(48,631)

Net current assets

 

14,573

52,894

Total assets less current liabilities

 

292,450

295,756

Creditors: Amounts falling due after more than one year

5

(200,572)

(246,571)

Net assets

 

91,878

49,185

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

91,876

49,183

Shareholders' funds

 

91,878

49,185

For the financial year ending 31 March 2024 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 year 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 August 2024 and signed on its behalf by:
 

.........................................
Mrs W Twigg
Director

 

Twiggs Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

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.

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.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Twiggs Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Investment properties

2024
£

At 1 April

242,862

Additions

35,015

At 31 March

277,877

There has been no valuation of investment property by an independent valuer.

4

Debtors

Current

2024
£

2023
£

Other debtors

10,000

-

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

7

-

6,465

Accruals and deferred income

 

480

480

Other creditors

 

7,591

41,686

 

8,071

48,631

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

-

45,999

Other non-current financial liabilities

 

200,572

200,572

 

200,572

246,571

 

Twiggs Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

45,999

2024
£

2023
£

Current loans and borrowings

Bank borrowings

-

6,465

8

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Mr J Twigg

No interest is charged on the loan and there is no fixed date of repayment.

17,625

(17,625)

-

       
     

Mrs W Twigg

No interest is charged on the loan and there is no fixed date of repayment.

17,625

(17,625)

-