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Registered number: 11178284
Twin Peaks Real Estate Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Modus Accountants Ltd
Unit 1c Church Green
Witney
OX28 4YR
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 11178284
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 8,844 8,844
Investments 5 30,000 30,000
38,844 38,844
Creditors: Amounts Falling Due Within One Year 6 (37,805 ) (35,995 )
NET CURRENT ASSETS (LIABILITIES) 1,039 2,849
TOTAL ASSETS LESS CURRENT LIABILITIES 1,039 2,849
NET ASSETS 1,039 2,849
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 939 2,749
SHAREHOLDERS' FUNDS 1,039 2,849
For the year ending 31 January 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 Income Statement.
On behalf of the board
Ms Annette Christine Berg
Director
25 October 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Twin Peaks Real Estate Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11178284 . The registered office is Unit 1c Eagle Industrial Estate, Church Green, Witney, Oxfordshire, OX28 4YR.
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. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 8,844 8,844
5. Current Asset Investments
2024 2023
£ £
Unlisted investments 30,000 30,000
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Corporation tax 749 645
Accruals and deferred income 200 -
Directors' loan accounts 36,856 35,351
37,805 35,995
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Controlling Party
The company is controlled by its directors.
Page 3