Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2023 1 November 2022 false 1 November 2023 1 July 2024 1 July 2024 12112712 Mr Scott Williams Mr Peter Williams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12112712 2023-10-31 12112712 2024-07-01 12112712 2023-11-01 2024-07-01 12112712 frs-core:CurrentFinancialInstruments 2024-07-01 12112712 frs-core:Non-currentFinancialInstruments 2024-07-01 12112712 frs-core:MotorVehicles 2024-07-01 12112712 frs-core:MotorVehicles 2023-11-01 2024-07-01 12112712 frs-core:MotorVehicles 2023-10-31 12112712 frs-core:WithinOneYear 2024-07-01 12112712 frs-core:ShareCapital 2024-07-01 12112712 frs-core:RetainedEarningsAccumulatedLosses 2024-07-01 12112712 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-07-01 12112712 frs-bus:FilletedAccounts 2023-11-01 2024-07-01 12112712 frs-bus:SmallEntities 2023-11-01 2024-07-01 12112712 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-07-01 12112712 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-07-01 12112712 frs-bus:Director1 2023-11-01 2024-07-01 12112712 frs-bus:Director2 2023-11-01 2024-07-01 12112712 frs-core:CurrentFinancialInstruments 1 2024-07-01 12112712 frs-countries:EnglandWales 2023-11-01 2024-07-01 12112712 2022-10-31 12112712 2023-10-31 12112712 2022-11-01 2023-10-31 12112712 frs-core:CurrentFinancialInstruments 2023-10-31 12112712 frs-core:Non-currentFinancialInstruments 2023-10-31 12112712 frs-core:BetweenOneFiveYears 2023-10-31 12112712 frs-core:WithinOneYear 2023-10-31 12112712 frs-core:ShareCapital 2023-10-31 12112712 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 12112712 frs-core:CurrentFinancialInstruments 1 2023-10-31
Registered number: 12112712
Twins Fit Ltd
Unaudited Financial Statements
For the Period 1 November 2023 to 1 July 2024
N Roberts Accountancy Services
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12112712
1 July 2024 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 53,311
- 53,311
CURRENT ASSETS
Debtors 5 48,905 14,538
Cash at bank and in hand 119 6,523
49,024 21,061
Creditors: Amounts Falling Due Within One Year 6 (52,718 ) (20,119 )
NET CURRENT ASSETS (LIABILITIES) (3,694 ) 942
TOTAL ASSETS LESS CURRENT LIABILITIES (3,694 ) 54,253
Creditors: Amounts Falling Due After More Than One Year 7 - (53,126 )
NET (LIABILITIES)/ASSETS (3,694 ) 1,127
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (3,696 ) 1,125
SHAREHOLDERS' FUNDS (3,694) 1,127
Page 1
Page 2
For the period ending 1 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Scott Williams
Director
Mr Peter Williams
Director
12/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Twins Fit Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12112712 . The registered office is 56 Gwynan Park, Dwygyfylchi, Penmaenmawr, LL34 6RR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable and net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles variable % reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 November 2023 62,646
Disposals (62,646 )
Depreciation
As at 1 November 2023 9,335
Disposals (9,335 )
As at 1 July 2024 -
Net Book Value
As at 1 July 2024 -
As at 1 November 2023 53,311
Page 3
Page 4
5. Debtors
1 July 2024 31 October 2023
£ £
Due within one year
Trade debtors - 9,889
S455 tax recoverable - 1,063
Sundry debtors 1,200 3,586
Directors' loan accounts 35,668 -
36,868 14,538
Due after more than one year
Other debtors 12,037 -
48,905 14,538
6. Creditors: Amounts Falling Due Within One Year
1 July 2024 31 October 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,500 14,215
Bank loans and overdrafts 10,017 1,855
Corporation tax 13,441 1,373
VAT 12,539 1,893
S455 tax payable 12,037 -
Accruals and deferred income 184 180
Directors' loan accounts - 603
52,718 20,119
7. Creditors: Amounts Falling Due After More Than One Year
1 July 2024 31 October 2023
£ £
Net obligations under finance lease and hire purchase contracts - 43,833
Bank loans - 9,293
- 53,126
8. Obligations Under Finance Leases and Hire Purchase
1 July 2024 31 October 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,500 14,215
Later than one year and not later than five years - 43,833
4,500 58,048
4,500 58,048
Page 4
Page 5
9. Share Capital
1 July 2024 31 October 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5