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Registration number: 13654091

Twinstar Ops Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Twinstar Ops Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Twinstar Ops Ltd

(Registration number: 13654091)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

427,137

452,891

Current assets

 

Debtors

5

7,876

3,231

Cash at bank and in hand

 

1,340

4,091

 

9,216

7,322

Creditors: Amounts falling due within one year

6

(563,632)

(541,231)

Net current liabilities

 

(554,416)

(533,909)

Net liabilities

 

(127,279)

(81,018)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(127,379)

(81,118)

Shareholders' deficit

 

(127,279)

(81,018)

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 February 2025
 

.........................................
A M Clark
Director

 

Twinstar Ops Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is reliant on the director's financial support to remain in operational existence. The director has confirmed his intention to maintain financial support and on this basis the financial statements have been prepared on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of aircraft hire services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line basis

Aircraft

Straight line over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Twinstar Ops Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Aircraft
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

500,000

3,768

503,768

At 30 September 2024

500,000

3,768

503,768

Depreciation

At 1 October 2023

50,000

877

50,877

Charge for the year

25,000

754

25,754

At 30 September 2024

75,000

1,631

76,631

Carrying amount

At 30 September 2024

425,000

2,137

427,137

At 30 September 2023

450,000

2,891

452,891

 

Twinstar Ops Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

3,115

-

Prepayments

3,993

2,287

Other debtors

768

944

 

7,876

3,231

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

424

2,023

Other creditors

563,208

539,208

563,632

541,231

7

Related party transactions

Other transactions with the director

A M Clark made a loan to the company. At the balance sheet date the amount due to A M Clark was £563,208 (2023: £539,208).