IRIS Accounts Production v24.2.0.383 03447515 Board of Directors 1.12.22 30.11.23 30.11.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh034475152022-11-30034475152023-11-30034475152022-12-012023-11-30034475152021-11-30034475152021-12-012022-11-30034475152022-11-3003447515ns15:EnglandWales2022-12-012023-11-3003447515ns14:PoundSterling2022-12-012023-11-3003447515ns10:Director12022-12-012023-11-3003447515ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3003447515ns10:SmallEntities2022-12-012023-11-3003447515ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3003447515ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3003447515ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3003447515ns10:FullAccounts2022-12-012023-11-3003447515ns10:Director22022-12-012023-11-3003447515ns10:Director32022-12-012023-11-3003447515ns10:CompanySecretary12022-12-012023-11-3003447515ns10:RegisteredOffice2022-12-012023-11-3003447515ns5:CurrentFinancialInstruments2023-11-3003447515ns5:CurrentFinancialInstruments2022-11-3003447515ns5:ShareCapital2023-11-3003447515ns5:ShareCapital2022-11-3003447515ns5:RetainedEarningsAccumulatedLosses2023-11-3003447515ns5:RetainedEarningsAccumulatedLosses2022-11-3003447515ns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-12-012023-11-3003447515ns5:PlantMachinery2022-12-012023-11-3003447515ns5:MotorVehicles2022-12-012023-11-3003447515ns5:LandBuildings2022-11-3003447515ns5:PlantMachinery2022-11-3003447515ns5:MotorVehicles2022-11-3003447515ns5:LandBuildings2022-12-012023-11-3003447515ns5:LandBuildings2023-11-3003447515ns5:PlantMachinery2023-11-3003447515ns5:MotorVehicles2023-11-3003447515ns5:LandBuildings2022-11-3003447515ns5:PlantMachinery2022-11-3003447515ns5:MotorVehicles2022-11-3003447515ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3003447515ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3003447515ns5:WithinOneYear2023-11-3003447515ns5:WithinOneYear2022-11-3003447515ns5:BetweenOneFiveYears2023-11-3003447515ns5:BetweenOneFiveYears2022-11-3003447515ns5:AllPeriods2023-11-3003447515ns5:AllPeriods2022-11-3003447515ns5:DeferredTaxation2022-11-3003447515ns5:DeferredTaxation2023-11-30
REGISTERED NUMBER: 03447515 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

PRO TWINS LIMITED

PRO TWINS LIMITED (REGISTERED NUMBER: 03447515)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PRO TWINS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: P Ramsey
B Norris
R J Jackson





SECRETARY: R J Jackson





REGISTERED OFFICE: Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE





REGISTERED NUMBER: 03447515 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

PRO TWINS LIMITED (REGISTERED NUMBER: 03447515)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 11,447 13,743

CURRENT ASSETS
Stocks 5 472,330 451,259
Debtors 6 75,793 50,399
Cash at bank and in hand 707,790 878,601
1,255,913 1,380,259
CREDITORS
Amounts falling due within one year 7 (703,975 ) (699,431 )
NET CURRENT ASSETS 551,938 680,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

563,385

694,571

PROVISIONS FOR LIABILITIES 9 (2,600 ) (3,100 )
NET ASSETS 560,785 691,471

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 559,785 690,471
560,785 691,471

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 directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





R J Jackson - Director


PRO TWINS LIMITED (REGISTERED NUMBER: 03447515)

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


1. STATUTORY INFORMATION

Pro Twins 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.

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

Turnover is derived from the sale of new and used bikes, repairs, parts & accessories.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 10 years
Plant and machinery - 25% straight line
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.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

PRO TWINS LIMITED (REGISTERED NUMBER: 03447515)

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


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 December 2022 1,500 114,203 65,839 181,542
Additions - 1,750 - 1,750
At 30 November 2023 1,500 115,953 65,839 183,292
DEPRECIATION
At 1 December 2022 750 112,637 54,412 167,799
Charge for year 150 1,039 2,857 4,046
At 30 November 2023 900 113,676 57,269 171,845
NET BOOK VALUE
At 30 November 2023 600 2,277 8,570 11,447
At 30 November 2022 750 1,566 11,427 13,743

5. STOCKS
2023 2022
£    £   
Inventories 472,330 451,259

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,119 20,638
Other debtors 62,674 29,761
75,793 50,399

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 193,245 214,384
Taxation and social security 78,652 96,271
Other creditors 432,078 388,776
703,975 699,431

PRO TWINS LIMITED (REGISTERED NUMBER: 03447515)

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


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 10,300 10,300
Between one and five years 30,900 41,200
41,200 51,500

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,600 3,100

Deferred
tax
£   
Balance at 1 December 2022 3,100
movement in the year (500 )
Balance at 30 November 2023 2,600