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COMPANY REGISTRATION NUMBER: 11087252
2TWENTY2 ASSOCIATES LIMITED
Filleted Unaudited Financial Statements
31 March 2024
2TWENTY2 ASSOCIATES LIMITED
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
4
1,255
827
Investments
5
1,000
1,000
-------
-------
2,255
1,827
Current assets
Debtors
6
1,495
Cash at bank and in hand
69
2,023
-------
-------
1,564
2,023
Creditors: amounts falling due within one year
7
18,167
3,677
--------
-------
Net current liabilities
16,603
1,654
--------
-------
Total assets less current liabilities
( 14,348)
173
--------
----
Net (liabilities)/assets
( 14,348)
173
--------
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 14,448)
73
--------
----
Shareholders (deficit)/funds
( 14,348)
173
--------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
2TWENTY2 ASSOCIATES LIMITED
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
Mr. N Herman
Ms. J Cunningham
Director
Director
2TWENTY2 ASSOCIATES LIMITED
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91 Shrublands Avenue, Berkhamstead, HP4 3JG.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Equipment
-
15% reducing balance
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
4. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2023
1,106
563
1,669
Additions
650
650
-------
-------
-------
At 31 March 2024
1,106
1,213
2,319
-------
-------
-------
Depreciation
At 1 April 2023
529
313
842
Charge for the year
87
135
222
-------
-------
-------
At 31 March 2024
616
448
1,064
-------
-------
-------
Carrying amount
At 31 March 2024
490
765
1,255
-------
-------
-------
At 31 March 2023
577
250
827
-------
-------
-------
5. Investments
Shares in participating interests
£
Cost
At 1 April 2023 and 31 March 2024
1,000
-------
Impairment
At 1 April 2023 and 31 March 2024
-------
Carrying amount
At 31 March 2024
1,000
-------
At 31 March 2023
1,000
-------
6. Debtors
2024
2023
£
£
Corporation tax repayable
1,072
Other debtors
423
-------
----
1,495
-------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
2,034
2,013
Corporation tax
1,110
Social security and other taxes
554
Director loan accounts
16,133
--------
-------
18,167
3,677
--------
-------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr. N Herman
( 8,066)
( 8,066)
Ms. J Cunningham
( 8,067)
( 8,067)
----
--------
--------
( 16,133)
( 16,133)
----
--------
--------
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr. N Herman
19
( 19)
Ms. J Cunningham
19
( 19)
----
----
----
38
( 38)
----
----
----