Registered number
05324046
TWK Project Management Ltd
Unaudited Filleted Accounts
31 January 2024
TWK Project Management Ltd
Registered number: 05324046
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 44,434 1,284
Current assets
Debtors 4 148,879 70,982
Cash at bank and in hand 371,927 534,425
520,806 605,407
Creditors: amounts falling due within one year 5 (89,976) (76,366)
Net current assets 430,830 529,041
Total assets less current liabilities 475,264 530,325
Provisions for liabilities (8,443) (244)
Net assets 466,821 530,081
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 465,821 529,081
Shareholders' funds 466,821 530,081
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Toby Knight
Director
Approved by the board on 25 August 2024
TWK Project Management Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Motor vehicles 20% Reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 11,291 - 11,291
Additions - 52,825 52,825
At 31 January 2024 11,291 52,825 64,116
Depreciation
At 1 February 2023 10,007 - 10,007
Charge for the year 644 9,031 9,675
At 31 January 2024 10,651 9,031 19,682
Net book value
At 31 January 2024 640 43,794 44,434
At 31 January 2023 1,284 - 1,284
4 Debtors 2024 2023
£ £
Trade debtors 148,493 70,515
Other debtors 386 467
148,879 70,982
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors loan 900 588
Credit card 1,012 723
Trade creditors 53,606 31,382
Accruals 3,496 3,483
Taxation and social security costs 6,107 20,864
Other creditors 24,855 19,326
89,976 76,366
6 Other information
TWK Project Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Bell House
57 West Street
Dorking
Surrey
RH4 1BS
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