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COMPANY REGISTRATION NUMBER: 10727913
Trwffl Limited
Filleted Unaudited Financial Statements
30 April 2024
Trwffl Limited
Financial Statements
Year ended 30 April 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 5
Trwffl Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,977
2,636
Current assets
Stocks
16,941
21,012
Debtors
6
674
658
Cash at bank and in hand
315
152
--------
--------
17,930
21,822
Creditors: amounts falling due within one year
7
( 49,809)
( 47,300)
--------
--------
Net current liabilities
( 31,879)
( 25,478)
--------
--------
Total assets less current liabilities
( 29,902)
( 22,842)
Creditors: amounts falling due after more than one year
8
( 15,106)
( 16,181)
--------
--------
Net liabilities
( 45,008)
( 39,023)
--------
--------
Capital and reserves
Called up share capital
9
1
1
Profit and loss account
( 45,009)
( 39,024)
--------
--------
Shareholders deficit
( 45,008)
( 39,023)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 January 2025 , and are signed on behalf of the board by:
Ms S J Bevan
Director
Company registration number: 10727913
Trwffl Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Vanguard House, Nelson Quay, MIlford Haven, Pembrokeshire, SA73 3AH, Wales.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis of accounts in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023 and 30 April 2024
4,398
2,700
7,098
-------
-------
-------
Depreciation
At 1 May 2023
2,901
1,561
4,462
Charge for the year
374
285
659
-------
-------
-------
At 30 April 2024
3,275
1,846
5,121
-------
-------
-------
Carrying amount
At 30 April 2024
1,123
854
1,977
-------
-------
-------
At 30 April 2023
1,497
1,139
2,636
-------
-------
-------
6. Debtors
2024
2023
£
£
Other debtors
674
658
----
----
Other debtors include an amount of £Nil (2023 - £Nil) falling due after more than one year.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts (secured)
6,209
5,202
Trade creditors
477
1,293
Social security and other taxes
39
Other creditors
43,084
40,805
--------
--------
49,809
47,300
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts (secured)
15,106
16,181
--------
--------
Included within creditors: amounts falling due after more than one year is an amount of £13,459 (2023: £12,975) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 0.01 each
100
1
100
1
----
----
----
----
10. Controlling party
The company was under the control of Ms S J Bevan throughout the current and previous year. Ms S J Bevan is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.