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REGISTERED NUMBER: 14015015 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

TLW Global Limited

TLW Global Limited (Registered number: 14015015)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


TLW Global Limited (Registered number: 14015015)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 89,100 99,900
Tangible assets 5 226,034 106,811
315,134 206,711

CURRENT ASSETS
Stocks 793,797 1,052,225
Debtors 6 842,375 858,945
Cash at bank 59,865 80,154
1,696,037 1,991,324
CREDITORS
Amounts falling due within one year 7 (1,530,551 ) (1,714,225 )
NET CURRENT ASSETS 165,486 277,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

480,620

483,810

CREDITORS
Amounts falling due after more than one
year

8

(142,845

)

(215,585

)

PROVISIONS FOR LIABILITIES (56,509 ) (26,424 )
NET ASSETS 281,266 241,801

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 271,266 231,801
281,266 241,801

TLW Global Limited (Registered number: 14015015)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





Mr J Hughes - Director


TLW Global Limited (Registered number: 14015015)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

TLW Global Limited is a private company, limited by shares, domiciled in england, registration number 14015015. The registered office is Brunel House, Brunel Close, Harworth, Doncaster, England, DN11 8QA.

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 represents net invoiced sale of goods, excluding value added tax for the manufacture and provision of seating and staging products and from the wholesale of lighting products.Sales are recognised at the point at which the goods are delivered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


TLW Global Limited (Registered number: 14015015)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 108,000
Additions 5,000
At 31 December 2023 113,000
AMORTISATION
At 1 January 2023 8,100
Charge for year 15,800
At 31 December 2023 23,900
NET BOOK VALUE
At 31 December 2023 89,100
At 31 December 2022 99,900

TLW Global Limited (Registered number: 14015015)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 128,532
Additions 181,308
Disposals (12,862 )
At 31 December 2023 296,978
DEPRECIATION
At 1 January 2023 21,721
Charge for year 52,591
Eliminated on disposal (3,368 )
At 31 December 2023 70,944
NET BOOK VALUE
At 31 December 2023 226,034
At 31 December 2022 106,811

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 76,262
Additions 53,037
Disposals (10,650 )
At 31 December 2023 118,649
DEPRECIATION
At 1 January 2023 12,238
Charge for year 20,885
Eliminated on disposal (2,696 )
At 31 December 2023 30,427
NET BOOK VALUE
At 31 December 2023 88,222
At 31 December 2022 64,024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 530,169 545,983
Other debtors 312,206 312,962
842,375 858,945

TLW Global Limited (Registered number: 14015015)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 375,108 409,707
Hire purchase contracts 21,531 17,237
Trade creditors 169,092 135,943
Taxation and social security 190,058 177,054
Other creditors 774,762 974,284
1,530,551 1,714,225

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 120,000 199,996
Hire purchase contracts 22,845 15,589
142,845 215,585

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 495,108 609,703
Hire purchase contracts 44,376 32,826
539,484 642,529

Balances due in relation to assets held on hire purchase are secured against the asset to which they relate.

Bank overdraft and loans are secured by way of a personal guarantee by the Directors and a legal charge over the business property which is owned by the Directors..