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REGISTERED NUMBER: 09546994 (England and Wales)







TWYWELL DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024






TWYWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09546994)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TWYWELL DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: SP Leahy
PI Tomkins





REGISTERED OFFICE: 11 Station Road
Kettering
Northamptonshire
NN15 7HH





BUSINESS ADDRESS: 9 Chainbridge Court
Thrapston
Northamptonshire
NN14 4FG





REGISTERED NUMBER: 09546994 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

TWYWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09546994)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,899 11,038

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 5 10,261 10,261
Cash at bank 29,515 46,601
59,776 76,862
CREDITORS
Amounts falling due within one year 6 148,519 163,233
NET CURRENT LIABILITIES (88,743 ) (86,371 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(81,844

)

(75,333

)

CREDITORS
Amounts falling due after more than one
year

7

(28,400

)

(32,019

)

PROVISIONS FOR LIABILITIES (786 ) (2,097 )
NET LIABILITIES (111,030 ) (109,449 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (111,032 ) (109,451 )
SHAREHOLDERS' FUNDS (111,030 ) (109,449 )

TWYWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09546994)

BALANCE SHEET - continued
29TH FEBRUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th November 2024 and were signed on its behalf by:





SP Leahy - Director


TWYWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09546994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024


1. STATUTORY INFORMATION

Twywell Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis not withstanding that at 29 February 2024 the company had net current liabilities of £88,743 (2023 £86,371). The director believes this basis to be appropriate and has agreed to provide funds as necessary to meet the day to day running costs of the business for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance

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.

Financial instruments
The company is party to only the basic financial instruments such as cash, trade debtors and creditors and loans. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

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


TWYWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09546994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st March 2023
and 29th February 2024 51,900 7,750 59,650
DEPRECIATION
At 1st March 2023 42,694 5,918 48,612
Charge for year 3,452 687 4,139
At 29th February 2024 46,146 6,605 52,751
NET BOOK VALUE
At 29th February 2024 5,754 1,145 6,899
At 28th February 2023 9,206 1,832 11,038

TWYWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09546994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1st March 2023
and 29th February 2024 5,250
DEPRECIATION
At 1st March 2023 3,789
Charge for year 548
At 29th February 2024 4,337
NET BOOK VALUE
At 29th February 2024 913
At 28th February 2023 1,461

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 10,261 10,261

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,948 6,051
Trade creditors 90,883 104,083
Taxation and social security 6,288 6,179
Other creditors 46,400 46,920
148,519 163,233

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 28,400 32,019

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalment 7,137 7,481
7,137 7,481

TWYWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09546994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


8. RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which the entity has a participating interest and directors were all concluded under normal market conditions.