Company registration number 11338036 (England and Wales)
TW & D CONSULTING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
TW & D CONSULTING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
TW & D CONSULTING LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
169,158
92,049
Current assets
Debtors
4
14,986
7,275
Cash at bank and in hand
81,147
257,632
96,133
264,907
Creditors: amounts falling due within one year
5
(110,757)
(281,292)
Net current liabilities
(14,624)
(16,385)
Total assets less current liabilities
154,534
75,664
Creditors: amounts falling due after more than one year
6
(130)
Provisions for liabilities
(35,116)
(23,012)
Net assets
119,288
52,652
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
119,188
52,552
Total equity
119,288
52,652
TW & D CONSULTING LTD
BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 8 January 2025 and are signed on its behalf by:
Mr A F Whalley
Director
Company registration number 11338036 (England and Wales)
TW & D CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
TW & D Consulting Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6C Farncote Drive, Four Oaks, Sutton Coldfield, West Midlands, B74 4QS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided, excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% reducing balance
Fixtures and fittings
20% straight line
Computers
33% straight line
Motor vehicles
25% reducing balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
TW & D CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
TW & D CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
130,265
Additions
117,680
At 31 May 2024
247,945
Depreciation and impairment
At 1 June 2023
38,216
Depreciation charged in the year
40,571
At 31 May 2024
78,787
Carrying amount
At 31 May 2024
169,158
At 31 May 2023
92,049
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,101
Other debtors
6,885
7,275
14,986
7,275
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
57,033
91,019
Other creditors
53,724
190,273
110,757
281,292
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
130
TW & D CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
7
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
35,116
23,012
2024
Movements in the year:
£
Liability at 1 June 2023
23,012
Charge to profit or loss
12,104
Liability at 31 May 2024
35,116
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100