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REGISTERED NUMBER: 08488598 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

TWO IP LIMITED

TWO IP LIMITED (REGISTERED NUMBER: 08488598)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TWO IP LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTOR: Dr A Molony





REGISTERED OFFICE: 3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW





REGISTERED NUMBER: 08488598 (England and Wales)





ACCOUNTANTS: Pentlands Accountants and advisors Ltd
Chartered Certified Accountants
and Registered Auditors
3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW

TWO IP LIMITED (REGISTERED NUMBER: 08488598)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,198 3,876
1,198 3,876

CURRENT ASSETS
Stocks 5,884 2,277
Debtors 6 73,993 50,084
Cash at bank 67,501 89,005
147,378 141,366
CREDITORS
Amounts falling due within one year 7 19,497 16,959
NET CURRENT ASSETS 127,881 124,407
TOTAL ASSETS LESS CURRENT
LIABILITIES

129,079

128,283

CREDITORS
Amounts falling due after more than one
year

8

(5,667

)

(9,667

)

PROVISIONS FOR LIABILITIES (300 ) (736 )
NET ASSETS 123,112 117,880

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 123,012 117,780
SHAREHOLDERS' FUNDS 123,112 117,880

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

TWO IP LIMITED (REGISTERED NUMBER: 08488598)

BALANCE SHEET - continued
30 April 2024


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 9 October 2024 and were signed by:





Dr A Molony - Director


TWO IP LIMITED (REGISTERED NUMBER: 08488598)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024


1. STATUTORY INFORMATION

Two IP 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, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Computer software
The computer software is being written off over it's useful economic life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

TWO IP LIMITED (REGISTERED NUMBER: 08488598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 1,525
AMORTISATION
At 1 May 2023
and 30 April 2024 1,525
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023 887 13,785 14,672
Additions - 1,352 1,352
At 30 April 2024 887 15,137 16,024
DEPRECIATION
At 1 May 2023 657 10,139 10,796
Charge for year 66 3,964 4,030
At 30 April 2024 723 14,103 14,826
NET BOOK VALUE
At 30 April 2024 164 1,034 1,198
At 30 April 2023 230 3,646 3,876

TWO IP LIMITED (REGISTERED NUMBER: 08488598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,231 12,305
Amounts owed by group undertakings 47,207 34,207
Other debtors 3,555 3,572
73,993 50,084

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors 4,901 3,235
Taxation and social security 8,963 8,723
Other creditors 1,633 1,001
19,497 16,959

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 5,667 9,667