IRIS Accounts Production v24.2.0.383 07523582 director 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075235822023-02-28075235822024-02-29075235822023-03-012024-02-29075235822022-02-28075235822022-03-012023-02-28075235822023-02-2807523582ns15:EnglandWales2023-03-012024-02-2907523582ns14:PoundSterling2023-03-012024-02-2907523582ns10:Director12023-03-012024-02-2907523582ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2907523582ns10:SmallEntities2023-03-012024-02-2907523582ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2907523582ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2907523582ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2907523582ns10:FullAccounts2023-03-012024-02-2907523582ns10:CompanySecretary12023-03-012024-02-2907523582ns10:RegisteredOffice2023-03-012024-02-2907523582ns5:CurrentFinancialInstruments2024-02-2907523582ns5:CurrentFinancialInstruments2023-02-2807523582ns5:ShareCapital2024-02-2907523582ns5:ShareCapital2023-02-2807523582ns5:RetainedEarningsAccumulatedLosses2024-02-2907523582ns5:RetainedEarningsAccumulatedLosses2023-02-2807523582ns5:PlantMachinery2023-02-2807523582ns5:PlantMachinery2023-03-012024-02-2907523582ns5:PlantMachinery2024-02-2907523582ns5:PlantMachinery2023-02-2807523582ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2907523582ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-28075235821ns10:Director12023-02-28075235821ns10:Director12022-02-28075235821ns10:Director12023-03-012024-02-29075235821ns10:Director12022-03-012023-02-28075235821ns10:Director12024-02-29075235821ns10:Director12023-02-28
REGISTERED NUMBER: 07523582 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

TWO CENTS LIMITED

TWO CENTS LIMITED (Registered number: 07523582)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TWO CENTS LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr Richard John Davis





SECRETARY: Mrs Ruth Davis





REGISTERED OFFICE: Nursery Cottage Burhill Park
Hersham
Walton-On-Thames
Surrey
KT12 4BE





REGISTERED NUMBER: 07523582 (England and Wales)





ACCOUNTANTS: Golder Baqa Limited
Ground Floor
1 Baker's Row
London
EC1R 3DB

TWO CENTS LIMITED (Registered number: 07523582)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,664 2,472

CURRENT ASSETS
Debtors 5 1,216,516 814,242
Prepayments and accrued income - 40,716
Cash at bank 1,042,580 757,635
2,259,096 1,612,593
CREDITORS
Amounts falling due within one year 6 324,419 184,471
NET CURRENT ASSETS 1,934,677 1,428,122
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,937,341

1,430,594

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,937,339 1,430,592
SHAREHOLDERS' FUNDS 1,937,341 1,430,594

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 director and authorised for issue on 12 August 2024 and were signed by:





Mr Richard John Davis - Director


TWO CENTS LIMITED (Registered number: 07523582)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

TWO CENTS 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.

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 sales of services, excluding Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant &
machinery
£   
COST
At 1 March 2023 8,299
Additions 1,080
At 29 February 2024 9,379
DEPRECIATION
At 1 March 2023 5,827
Charge for year 888
At 29 February 2024 6,715
NET BOOK VALUE
At 29 February 2024 2,664
At 28 February 2023 2,472

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 42,000 -
Other debtors 292,029 201,119
Directors' loan account 882,487 613,123
1,216,516 814,242

TWO CENTS LIMITED (Registered number: 07523582)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Corporation tax 283,514 160,836
VAT 39,705 22,435
Accruals and deferred income 1,200 1,200
324,419 184,471

7. CONTINGENT LIABILITIES

There were no contingent liabilities at the balance sheet date which have not been provided for in the accounts.

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
Mr Richard John Davis
Balance outstanding at start of year 613,123 464,852
Amounts advanced 527,992 279,835
Amounts repaid (258,628 ) (131,564 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 882,487 613,123

This loan is unsecured and repayable on demand. Interest, at the rate of 2%/2.25% per annum, has been charged on shareholders' overdrawn amount.

9. ULTIMATE CONTROLLING PARTY

Mr Richard John Davis, the sole director of the company, together with members of his close family, controlled the company by virtue of a controlling interest (directly and indirectly) of 100% of the issued ordinary share capital.