Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01truefalseNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22truefalse 10738112 2023-05-01 2024-04-30 10738112 2022-05-01 2023-04-30 10738112 2024-04-30 10738112 2023-04-30 10738112 2022-05-01 10738112 c:Director1 2023-05-01 2024-04-30 10738112 d:FurnitureFittings 2023-05-01 2024-04-30 10738112 d:FurnitureFittings 2024-04-30 10738112 d:FurnitureFittings 2023-04-30 10738112 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10738112 d:ComputerEquipment 2023-05-01 2024-04-30 10738112 d:ComputerEquipment 2024-04-30 10738112 d:ComputerEquipment 2023-04-30 10738112 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10738112 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10738112 d:CurrentFinancialInstruments 2024-04-30 10738112 d:CurrentFinancialInstruments 2023-04-30 10738112 d:Non-currentFinancialInstruments 2024-04-30 10738112 d:Non-currentFinancialInstruments 2023-04-30 10738112 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10738112 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10738112 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 10738112 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 10738112 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 10738112 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 10738112 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 10738112 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 10738112 d:UKTax 2023-05-01 2024-04-30 10738112 d:UKTax 2022-05-01 2023-04-30 10738112 d:ShareCapital 2024-04-30 10738112 d:ShareCapital 2023-04-30 10738112 d:RetainedEarningsAccumulatedLosses 2024-04-30 10738112 d:RetainedEarningsAccumulatedLosses 2023-04-30 10738112 c:OrdinaryShareClass1 2023-05-01 2024-04-30 10738112 c:OrdinaryShareClass1 2024-04-30 10738112 c:OrdinaryShareClass1 2023-04-30 10738112 c:FRS102 2023-05-01 2024-04-30 10738112 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10738112 c:FullAccounts 2023-05-01 2024-04-30 10738112 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10738112 2 2023-05-01 2024-04-30 10738112 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 10738112 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 10738112 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10738112









TWS MORTGAGES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
TWS MORTGAGES LTD
REGISTERED NUMBER: 10738112

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,701
7,582

  
4,701
7,582

Current assets
  

Debtors: amounts falling due within one year
 6 
1,582
-

Cash at bank and in hand
  
14,155
15,053

  
15,737
15,053

Creditors: amounts falling due within one year
 7 
(12,139)
(10,143)

Net current assets
  
 
 
3,598
 
 
4,910

Total assets less current liabilities
  
8,299
12,492

Creditors: amounts falling due after more than one year
 8 
(7,378)
(12,051)

Provisions for liabilities
  

Deferred tax
 10 
(893)
(1,441)

  
 
 
(893)
 
 
(1,441)

Net assets/(liabilities)
  
28
(1,000)


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
(72)
(1,100)

  
28
(1,000)


Page 1

 
TWS MORTGAGES LTD
REGISTERED NUMBER: 10738112
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 October 2024.






Tony William Smith
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
TWS MORTGAGES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The company is a private company, limited by shares, registered in England and Wales. The company's registered number is 10738112 and registered office is 58 Lincroft, Cranfield, Bedford, MK43 0HT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
TWS MORTGAGES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
TWS MORTGAGES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
TWS MORTGAGES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
5,782
3,105


5,782
3,105


Total current tax
5,782
3,105

Deferred tax


Origination and reversal of timing differences
(548)
(561)

Total deferred tax
(548)
(561)


Taxation on profit on ordinary activities
5,234
2,544

Factors affecting tax charge for the year

There were no factors, other than deferred tax provisions and reversals on timing differences, that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  19% (2023 - 19%).



Factors that may affect future tax charges

The only factor currently affecting the tax charge is the provision and reversal of deferred tax on the difference between capital allowances and depreciation.

Page 6

 
TWS MORTGAGES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
10,675
4,833
15,508



At 30 April 2024

10,675
4,833
15,508



Depreciation


At 1 May 2023
4,603
3,322
7,925


Charge for the year on owned assets
2,065
817
2,882



At 30 April 2024

6,668
4,139
10,807



Net book value



At 30 April 2024
4,007
694
4,701



At 30 April 2023
6,072
1,510
7,582


6.


Debtors

2024
2023
£
£


Other debtors
1,582
-

1,582
-



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
4,700
4,717

Corporation tax
5,782
3,105

Other creditors
-
760

Accruals and deferred income
1,657
1,561

12,139
10,143


Page 7

 
TWS MORTGAGES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,378
12,051

7,378
12,051


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:



Repayments on the bank loan began on 29 November 2021 and conclude on 29 October 2026. Repayments were initially set at a monthly amount of £413.38 over the lifetime of the loan, although this has altered during the year due to interest rate changes.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
4,700
4,717


4,700
4,717

Amounts falling due 1-2 years

Bank loans
4,900
4,691


4,900
4,691

Amounts falling due 2-5 years

Bank loans
2,477
7,360


2,477
7,360


12,077
16,768


Page 8

 
TWS MORTGAGES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
(1,441)
(2,002)


Charged to profit or loss
548
561



At end of year
(893)
(1,441)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(893)
(1,441)

(893)
(1,441)


It is expected that £500 of the deferred tax liability will be reversed in the forthcoming financial year.


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £nil (2023 - £1,750) . Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


13.


Controlling party

The controlling party is Mr T.W. Smith.

 
Page 9