Company Registration No. 06840514 (England and Wales)
TWENTY TWO TRAINING LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
TWENTY TWO TRAINING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
TWENTY TWO TRAINING LIMITED
Company Registration No. 06840514
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
13,231
15,732
Current assets
Debtors
5
146,432
114,590
Cash at bank and in hand
7,299
1,147
153,731
115,737
Creditors: amounts falling due within one year
6
(401,596)
(348,927)
Net current liabilities
(247,865)
(233,190)
Total assets less current liabilities
(234,634)
(217,458)
Creditors: amounts falling due after more than one year
7
(11,789)
(21,739)
Net liabilities
(246,423)
(239,197)
Capital and reserves
Called up share capital
8
143
143
Profit and loss reserves
(246,566)
(239,340)
Total equity
(246,423)
(239,197)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

TWENTY TWO TRAINING LIMITED
Company Registration No. 06840514
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 13 February 2025
D Wong
Director
TWENTY TWO TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Twenty Two Training Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Elvaston Mews, London, SW7 5HZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities of £246,424. Included in the creditors are amounts due to the director of £83,395. The director has confirmed that he will continue to support the company for the foreseeable future and is confident about the company's ability to trade as a going concern and meets its financial obligations. Therefore, the accounts have been prepared on the going concern basis.

1.3
Turnover

Turnover comprises revenue recognised by the company in training and personal development services supplied during the year, exclusive of VAT and trade discounts.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
20% straight line
TWENTY TWO TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
3 years straight line
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Computer equipment
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

TWENTY TWO TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Intangible fixed assets
Other
£
Cost
At 1 July 2023 and 30 June 2024
27,000
Amortisation and impairment
At 1 July 2023 and 30 June 2024
27,000
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
20,000
61,574
81,574
Depreciation and impairment
At 1 July 2023
20,000
45,842
65,842
Depreciation charged in the year
-
0
2,501
2,501
At 30 June 2024
20,000
48,343
68,343
Carrying amount
At 30 June 2024
-
0
13,231
13,231
At 30 June 2023
-
0
15,732
15,732
TWENTY TWO TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
109,750
88,405
Other debtors
36,682
26,185
146,432
114,590
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,648
21,467
Trade creditors
106,309
72,733
Taxation and social security
140,450
112,364
Other creditors
144,189
142,363
401,596
348,927

 

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,789
21,739

 

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
14,266
14,266
143
143
9
Related party transactions

At the balance sheet date the company owed the director, D Wong, £83,395 (2023 - £64,235). This loan is interest free.

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