Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-09-01falseThe principal activity of the company is the operation of two Subway franchises.2027truetruefalse 13574781 2022-09-01 2023-11-30 13574781 2021-08-19 2022-08-31 13574781 2023-11-30 13574781 2022-08-31 13574781 c:Director1 2022-09-01 2023-11-30 13574781 d:MotorVehicles 2022-09-01 2023-11-30 13574781 d:MotorVehicles 2023-11-30 13574781 d:MotorVehicles 2022-08-31 13574781 d:FurnitureFittings 2022-09-01 2023-11-30 13574781 d:FurnitureFittings 2023-11-30 13574781 d:FurnitureFittings 2022-08-31 13574781 d:CurrentFinancialInstruments 2023-11-30 13574781 d:CurrentFinancialInstruments 2022-08-31 13574781 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 13574781 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 13574781 d:ShareCapital 2023-11-30 13574781 d:ShareCapital 2022-08-31 13574781 d:RetainedEarningsAccumulatedLosses 2023-11-30 13574781 d:RetainedEarningsAccumulatedLosses 2022-08-31 13574781 c:FRS102 2022-09-01 2023-11-30 13574781 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-11-30 13574781 c:FullAccounts 2022-09-01 2023-11-30 13574781 c:PrivateLimitedCompanyLtd 2022-09-01 2023-11-30 13574781 2 2022-09-01 2023-11-30 13574781 e:PoundSterling 2022-09-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 13574781










TVW 2 LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 NOVEMBER 2023

 
TVW 2 LTD
REGISTERED NUMBER: 13574781

BALANCE SHEET
AS AT 30 NOVEMBER 2023

30 November
31 August
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
140,749

Current assets
  

Stocks
  
7,657
10,000

Debtors: amounts falling due within one year
 5 
18,168
7,231

Cash at bank and in hand
  
335,019
35,723

  
360,844
52,954

Creditors: amounts falling due within one year
 6 
(266,276)
(241,685)

Net current assets/(liabilities)
  
 
 
94,568
 
 
(188,731)

  

Net assets/(liabilities)
  
94,568
(47,982)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
94,468
(48,082)

  
94,568
(47,982)


Page 1

 
TVW 2 LTD
REGISTERED NUMBER: 13574781
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 August 2024.




A S Mandeir
Director

Page 2

 
TVW 2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

1.


General information

TVW 2 Ltd is a private limited company incorporated and domiciled in England.  Its registered office is situated at Cromwell House, 68 West Gate, Mansfield, Nottinghamshire NG18 1RR.
The company was incorporated on 19 August 2021 and commenced trading on 2 March 2022, with the principal trading activity of running two Subway franchises.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

At the end of this extended accounting period the principal activity of the business has been sold and it will ultimately be the director’s intention to cease all operations. However, the time frame will be dictated by external influences and whilst there remains a degree of financial transaction ongoing, the business will continue and hence the going concern basis has been adopted.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
TVW 2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
TVW 2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Employees

The average monthly number of employees, including the director, during the period was 20 (2022 - 27).


4.


Tangible fixed assets







Motor vehicles
Fixtures and fittings
Total

£
£
£





At 1 September 2022
10,191
146,480
156,671


Additions
-
6,547
6,547


Disposals
(10,191)
(153,027)
(163,218)



At 30 November 2023

-
-
-





At 1 September 2022
1,274
14,648
15,922


Disposals
(1,274)
(14,648)
(15,922)



At 30 November 2023

-
-
-



Net book value



At 30 November 2023
-
-
-



At 31 August 2022
8,917
131,832
140,749


5.


Debtors

30 November
31 August
2023
2022
Page 5

 
TVW 2 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

5.Debtors (continued)

£
£


Other debtors
18,168
3,052

Prepayments and accrued income
-
4,179

18,168
7,231



6.


Creditors: Amounts falling due within one year

30 November
31 August
2023
2022
£
£

Trade creditors
28,439
22,476

Corporation tax
31,717
-

Other taxation and social security
-
2,059

Other creditors
181,740
198,642

Accruals and deferred income
24,380
18,508

266,276
241,685



7.


Pension commitments

The company operates a defined contribution scheme in respect of the employees.  The scheme and its assets are held by independent managers.  The pension scheme charge represents contributions due from the company and amounted to £986 (2022 £757).

 
Page 6