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REGISTERED NUMBER: 10491573 (England and Wales)















TWC REAL ESTATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






TWC REAL ESTATE LIMITED (REGISTERED NUMBER: 10491573)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


TWC REAL ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: T W Campbell





REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF





REGISTERED NUMBER: 10491573 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA

TWC REAL ESTATE LIMITED (REGISTERED NUMBER: 10491573)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,800 1,234
Investment property 5 570,000 510,000
611,800 511,234

CURRENT ASSETS
Debtors 6 654 1,054
Cash at bank 1,658 6,710
2,312 7,764
CREDITORS
Amounts falling due within one year 7 351,651 360,603
NET CURRENT LIABILITIES (349,339 ) (352,839 )
TOTAL ASSETS LESS CURRENT LIABILITIES 262,461 158,395

CREDITORS
Amounts falling due after more than one year 8 (34,662 ) -

PROVISIONS FOR LIABILITIES (39,746 ) (16,333 )
NET ASSETS 188,053 142,062

CAPITAL AND RESERVES
Called up share capital 10 100 100
Other reserves 11 93,073 48,073
Retained earnings 11 94,880 93,889
SHAREHOLDERS' FUNDS 188,053 142,062

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TWC REAL ESTATE LIMITED (REGISTERED NUMBER: 10491573)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 2 August 2024 and were signed by:





T W Campbell - Director


TWC REAL ESTATE LIMITED (REGISTERED NUMBER: 10491573)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

TWC Real Estate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

At the balance sheet date the company had net current liabilities of £349,339 (2022: £352,839). Net liabilities includes an amount of £315,628 (2022: £333,628) owing to other lenders.

The director of TWC Real Estate Limited consider the financial statements should be prepared on a going concern basis because:

- the other creditors have given an undertaking not to withdraw funds lent to the company to the extent that it would prejudice the company's ability to continue as a going concern.

- in his opinion, the company's lender will continue to support the company for the foreseeable future.

- in his opinion, the company will continue to achieve profitability in future periods.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


TWC REAL ESTATE LIMITED (REGISTERED NUMBER: 10491573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 December 2022 4,824 - 4,824
Additions - 54,499 54,499
At 30 November 2023 4,824 54,499 59,323
DEPRECIATION
At 1 December 2022 3,590 - 3,590
Charge for year 308 13,625 13,933
At 30 November 2023 3,898 13,625 17,523
NET BOOK VALUE
At 30 November 2023 926 40,874 41,800
At 30 November 2022 1,234 - 1,234

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 510,000
Revaluations 60,000
At 30 November 2023 570,000
NET BOOK VALUE
At 30 November 2023 570,000
At 30 November 2022 510,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 124,097
Cost 445,903
570,000

TWC REAL ESTATE LIMITED (REGISTERED NUMBER: 10491573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. INVESTMENT PROPERTY - continued

In the opinion of the director at 30 November 2023, the open market value of the Investment property has been increased to the value shown above.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 800
Other debtors 654 254
654 1,054

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 8,850 -
Trade creditors 1,097 134
Corporation tax 21,577 20,984
Other creditors 315,628 333,628
Directors' current accounts 53 2,821
Accruals and deferred income 4,446 3,036
351,651 360,603

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 34,662 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 43,512 -
Other creditors 315,628 333,628
359,140 333,628

Hire purchase contracts are secured on the assets to which the agreement relates.

Other creditors are secured by way of a fixed charge over the Freehold Property of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

TWC REAL ESTATE LIMITED (REGISTERED NUMBER: 10491573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

11. RESERVES


Other
reserves
£
At 1 December 202248,073
Revaluation of investment properties45,000
93,073

The aggregate surplus on re-measurement of freehold properties and investment properties net of associated deferred tax is transferred to a separate non-distributable reserve in order to assist with the identification of profits available for distribution.