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REGISTERED NUMBER: SC642082 (Scotland)





















Unaudited Financial Statements

For The Year Ended 30 September 2024

for

Twice Loved Ltd

Twice Loved Ltd (Registered number: SC642082)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Twice Loved Ltd

Company Information
For The Year Ended 30 September 2024







DIRECTOR: Ms L J Speake





REGISTERED OFFICE: 27 Clarence Drive, Hyndland
Glasgow
Glasgow
G12 9QN





REGISTERED NUMBER: SC642082 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

Twice Loved Ltd (Registered number: SC642082)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,898 1,511

CURRENT ASSETS
Debtors 5 5,226 5,403
Cash at bank and in hand 75,262 48,446
80,488 53,849
CREDITORS
Amounts falling due within one year 6 63,339 39,246
NET CURRENT ASSETS 17,149 14,603
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,047

16,114

PROVISIONS FOR LIABILITIES 412 287
NET ASSETS 18,635 15,827

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 18,634 15,826
SHAREHOLDERS' FUNDS 18,635 15,827

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Twice Loved Ltd (Registered number: SC642082)

Balance Sheet - continued
30 September 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 January 2025 and were signed by:





Ms L J Speake - Director


Twice Loved Ltd (Registered number: SC642082)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Twice Loved Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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


Twice Loved Ltd (Registered number: SC642082)

Notes to the Financial Statements - continued
For The Year Ended 30 September 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2023 102 2,248 2,016 4,366
Additions - 646 779 1,425
Disposals - - (799 ) (799 )
At 30 September 2024 102 2,894 1,996 4,992
DEPRECIATION
At 1 October 2023 70 1,090 1,695 2,855
Charge for year 8 451 296 755
Eliminated on disposal - - (516 ) (516 )
At 30 September 2024 78 1,541 1,475 3,094
NET BOOK VALUE
At 30 September 2024 24 1,353 521 1,898
At 30 September 2023 32 1,158 321 1,511

5. DEBTORS
30.9.24 30.9.23
£    £   
Amounts falling due within one year:
Other debtors 2,226 2,403

Twice Loved Ltd (Registered number: SC642082)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

5. DEBTORS - continued
30.9.24 30.9.23
£    £   
Amounts falling due after more than one year:
Other debtors 3,000 3,000

Aggregate amounts 5,226 5,403

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 93 327
Taxation and social security 15,256 6,482
Other creditors 47,990 32,437
63,339 39,246