TWIN CITY LIMITED

Company Registration Number:
14898585 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 27 May 2023

End date: 31 May 2024

TWIN CITY LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

TWIN CITY LIMITED

Profit And Loss Account

for the Period Ended 31 May 2024

2024


£
Turnover: 1,393
Cost of sales: ( 666 )
Gross profit(or loss): 727
Distribution costs: 0
Administrative expenses: ( 4,762 )
Other operating income: 0
Operating profit(or loss): (4,035)
Interest receivable and similar income: 0
Interest payable and similar charges: 0
Profit(or loss) before tax: (4,035)
Tax: 0
Profit(or loss) for the financial year: (4,035)

TWIN CITY LIMITED

Balance sheet

As at 31 May 2024

Notes 2024


£
Current assets
Cash at bank and in hand: 143
Total current assets: 143
Creditors: amounts falling due within one year: 3 ( 4,078 )
Net current assets (liabilities): (3,935)
Total assets less current liabilities: (3,935)
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): (3,935)
Capital and reserves
Called up share capital: 100
Share premium account: 0
Other reserves: 0
Profit and loss account: (4,035 )
Total Shareholders' funds: ( 3,935 )

The notes form part of these financial statements

TWIN CITY LIMITED

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 19 February 2025
and signed on behalf of the board by:

Name: Isaac Young
Status: Director

The notes form part of these financial statements

TWIN CITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Other accounting policies

    Accounting policies Basis of preparation Turnover Taxation Provisions 2 Employees 2024 Number Average number of persons employed by the company 2 3 Creditors: amounts falling due within one year 2024 £ Other creditors 4,078 4 Controlling party The company is under no individual control. The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

TWIN CITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024
    Average number of employees during the period 2

TWIN CITY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Creditors: amounts falling due within one year note

2024
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 0
Accruals and deferred income 0
Other creditors 4,078
Total 4,078