0 10/08/2023 31/08/2024 2024-08-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2023-08-10 Sage Accounts Production 24.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 15062900 2023-08-10 2024-08-31 15062900 2024-08-31 15062900 2023-08-09 15062900 bus:RegisteredOffice 2023-08-10 2024-08-31 15062900 bus:OrdinaryShareClass1 2023-08-10 2024-08-31 15062900 bus:LeadAgentIfApplicable 2023-08-10 2024-08-31 15062900 bus:Director1 2023-08-10 2024-08-31 15062900 core:ShareCapital 2023-08-10 2024-08-31 15062900 core:HedgingReserve 2023-08-10 2024-08-31 15062900 core:RetainedEarningsAccumulatedLosses 2023-08-10 2024-08-31 15062900 core:WithinOneYear 2024-08-31 15062900 core:ShareCapital 2024-08-31 15062900 core:HedgingReserve 2024-08-31 15062900 core:RetainedEarningsAccumulatedLosses 2024-08-31 15062900 core:PreviouslyStatedAmount core:ShareCapital 2024-08-31 15062900 bus:OrdinaryShareClass1 core:ShareCapital 2024-08-31 15062900 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-08-31 15062900 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-08-31 15062900 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 15062900 core:Non-currentFinancialInstruments 2024-08-31 15062900 bus:SmallEntities 2023-08-10 2024-08-31 15062900 bus:AuditExemptWithAccountantsReport 2023-08-10 2024-08-31 15062900 bus:SmallCompaniesRegimeForAccounts 2023-08-10 2024-08-31 15062900 bus:PrivateLimitedCompanyLtd 2023-08-10 2024-08-31 15062900 bus:FullAccounts 2023-08-10 2024-08-31 15062900 core:PropertiesRevaluationReserve 2024-08-31 15062900 1 2023-08-10 2024-08-31
Company registration number: 15062900
(England and Wales)
With Two Tees Limited
Unaudited filleted financial statements
for the period from 10 August 2023 to
31 August 2024
With Two Tees Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
With Two Tees Limited
Directors and other information
Director Mrs J P Lelliott
Company number 15062900
Registered office 5 Swan Meadow
Stratford St Mary
Colchester
Essex
CO7 6JQ
Business address 5 Swan Meadow
Stratford St Mary
Colchester
Essex
CO7 6JQ
Accountants Griffin Chapman
4 & 5 The Cedars, Apex 12
Old Ipswich Road
Colchester
Essex
CO7 7QR
With Two Tees Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of With Two Tees Limited
Period ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of With Two Tees Limited for the period ended 31 August 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of With Two Tees Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of With Two Tees Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than With Two Tees Limited and its director as a body for our work or for this report.
It is your duty to ensure that With Two Tees Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of With Two Tees Limited. You consider that With Two Tees Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of With Two Tees Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Griffin Chapman
4 & 5 The Cedars, Apex 12
Old Ipswich Road
Colchester
Essex
CO7 7QR
27 January 2025
With Two Tees Limited
Statement of financial position
31 August 2024
31/08/24
Note £ £
Fixed assets
Investments 5 984,179
_______
984,179
Current assets
Debtors 6 5
Cash at bank and in hand 15,978
_______
15,983
Creditors: amounts falling due
within one year 7 ( 938,441)
_______
Net current liabilities ( 922,458)
_______
Total assets less current liabilities 61,721
Provisions for liabilities ( 17,874)
_______
Net assets 43,847
_______
Capital and reserves
Called up share capital 8 10
Fair value reserve 9 63,686
Profit and loss account 9 ( 19,849)
_______
Shareholders funds 43,847
_______
For the period ending 31 August 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 period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act 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 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 January 2025 , and are signed on behalf of the board by:
Mrs J P Lelliott
Director
Company registration number: 15062900
With Two Tees Limited
Statement of changes in equity
Period ended 31 August 2024
Called up share capital Fair value reserve Profit and loss account Total
£ £ £ £
At 10 August 2023 - - - -
Profit for the period 43,837 43,837
Other comprehensive income for the period:
Reclassification to fair value reserve from profit and loss account 63,686 (63,686) -
_______ _______ _______ _______
Total comprehensive income for the period - 63,686 ( 19,849) 43,837
Issue of shares 10 10
_______ _______ _______ _______
Total investments by and distributions to owners 10 - - 10
_______ _______ _______ _______
At 31 August 2024 10 63,686 ( 19,849) 43,847
_______ _______ _______ _______
With Two Tees Limited
Notes to the financial statements
Period ended 31 August 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 Swan Meadow, Stratford St Mary, Colchester, Essex, CO7 6JQ.
The principal activity of the company continues to be that of holding investments.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the period amounted to Nil.
5. Investments
Other investments other than loans Total
£ £
Cost
At 10 August 2023 - -
Additions 1,533,986 1,533,986
Disposals ( 631,367) ( 631,367)
Fair value adjustment 81,560 81,560
_______ _______
At 31 August 2024 984,179 984,179
_______ _______
Impairment
At 10 August 2023 and 31 August 2024 - -
_______ _______
Carrying amount
At 31 August 2024 984,179 984,179
_______ _______
6. Debtors
31/08/24
£
Other debtors 5
_______
7. Creditors: amounts falling due within one year
31/08/24
£
Other creditors 938,441
_______
8. Called up share capital
Issued, called up and fully paid
31/08/24
No £
Ordinary shares of £ 0.01 each 1,000 10
_______ _______
On 10 August 2023, 1 Ordinary £0.01 share was issued to the subscriber of the company. On 21 August 2023, a further 999 Ordinary £0.01 shares were issued at par value.
9. Reserves
The fair value reserve relates to the revaluation of listed investments and includes the associated deferred taxation.The profit and loss account reserve represents accumulated comprehensive income for the year and prior periods less any dividends declared.