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10482235







2WAY SYSTEMS INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
30 NOVEMBER 2023

























2WAY SYSTEMS INTERNATIONAL LIMITED
REGISTERED NUMBER:10482235

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
5,106
3,073

Cash at bank and in hand
  
1,814
7,668

  
6,920
10,741

Creditors: amounts falling due within one year
 6 
(31,802)
(31,066)

Net current liabilities
  
 
 
(24,882)
 
 
(20,325)

  

Net liabilities
  
(24,882)
(20,325)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(25,882)
(21,325)

  
(24,882)
(20,325)


The directors consider 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 directors acknowledge their 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.

Page 1

2WAY SYSTEMS INTERNATIONAL LIMITED
REGISTERED NUMBER:10482235
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

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 by: 




C M Bull
Director

Date: 25 November 2024


The notes on pages 3 to 5 form part of these financial statements.

Page 2

2WAY SYSTEMS INTERNATIONAL LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

2Way Systems International Limited ('the company') is a limited company incorporated and domiciled in England and Wales.
The address of its registered office is Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS. It's principal place of business is 8 Nizels Knoll, Nizels Lane, Hildenborough, TN11 8NU.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

Monetary amounts in these financial statements are stated in pounds sterling and rounded to the nearest whole £1.
The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has made a loss for the year of £4,557 and at the reporting date had net current liabilities of £24,882. The directors have confirmed that they will provide the company with financial support to allow it to meet its obligations as they fall due. Consequently, the directors consider it is appropriate to present the results of the company on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue recognition

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. 

License fees are recognised in period to which they relate.  

Page 3

2WAY SYSTEMS INTERNATIONAL LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

2WAY SYSTEMS INTERNATIONAL LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Intangible assets




Computer software

£



Cost


At 1 December 2022
10,000



At 30 November 2023

10,000



Amortisation


At 1 December 2022
10,000



At 30 November 2023

10,000



Net book value



At 30 November 2023
-



At 30 November 2022
-




5.


Debtors

2023
2022
£
£


Trade debtors
3,088
2,055

Other debtors
2,018
1,018

5,106
3,073



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
27,059
26,627

Accruals and deferred income
4,743
4,439

31,802
31,066


 
Page 5