Company registration number 06482037 (England and Wales)
TWISTEDTREE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
TWISTEDTREE LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
TWISTEDTREE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,830
357
Current assets
Debtors
4
32,827
23,585
Cash at bank and in hand
2,233
12
35,060
23,597
Creditors: amounts falling due within one year
5
(25,848)
(20,560)
Net current assets
9,212
3,037
Total assets less current liabilities
11,042
3,394
Creditors: amounts falling due after more than one year
6
(10,479)
(3,100)
Provisions for liabilities
(458)
(103)
Net assets
105
191
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
104
190
Total equity
105
191
TWISTEDTREE LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 12 September 2024
P Johansson
Director
Company registration number 06482037 (England and Wales)
TWISTEDTREE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information
TwistedTree 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.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Income is recognised at point of sale.
1.3
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on cost
Fixtures and fittings
25% on cost
Computer equipment
33% on cost
1.4
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and other loans to related parties.
Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Basic financial assets
Debtors
Basic financial assets, including trade and other debtors, are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost.
Creditors
Basic financial liabilities, including trade and other creditors, are recognised at transaction price.
1.5
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.
TWISTEDTREE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
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 statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
1.6
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
TWISTEDTREE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
3
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Computer equipment
Total
£
£
£
£
Cost
At 1 February 2023
410
7,053
7,463
Additions
1,000
916
1,916
Disposals
(4,836)
(4,836)
At 31 January 2024
410
1,000
3,133
4,543
Depreciation and impairment
At 1 February 2023
410
6,696
7,106
Depreciation charged in the year
125
318
443
Eliminated in respect of disposals
(4,836)
(4,836)
At 31 January 2024
410
125
2,178
2,713
Carrying amount
At 31 January 2024
875
955
1,830
At 31 January 2023
357
357
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,895
2,140
Corporation tax recoverable
7,718
5,324
Other debtors
23,214
16,121
32,827
23,585
TWISTEDTREE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,621
7,984
Trade creditors
2,146
1,436
Corporation tax
11,456
5,618
Other taxation and social security
4,111
2,775
Other creditors
1,264
309
Accruals and deferred income
2,250
2,438
25,848
20,560
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
10,479
3,100
7
Directors' transactions
The amounts owed by the director are repayable on demand.
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
P Johansson
2.25
16,121
6,658
435
23,214
16,121
6,658
435
23,214