REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
TWICE PS UK LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
TWICE PS UK LIMITED |
TWICE PS UK LIMITED (REGISTERED NUMBER: 07255709) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
TWICE PS UK LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 June 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants and Statutory Auditor |
10 London Mews |
Paddington |
LONDON |
W2 1HY |
TWICE PS UK LIMITED (REGISTERED NUMBER: 07255709) |
STATEMENT OF FINANCIAL POSITION |
30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 4 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The financial statements were approved and authorised for issue by the director and authorised for issue on |
TWICE PS UK LIMITED (REGISTERED NUMBER: 07255709) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Twice PS UK Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. The director has been given assurance by the parent company that they will continue to provide adequate cash resources to cover the company's requirements for working capital and capital expenditure for at least the next twelve months from the approval of these accounts. |
Turnover |
Turnover represents amounts receivable for the goods and services provided, excluding value added tax. |
Revenue recognition |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the customer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Stocks |
Stocks are valued at the lower of cost and selling price less selling costs, after making due allowance for obsolete and slow moving items. |
Current tax |
Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Foreign currencies |
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
TWICE PS UK LIMITED (REGISTERED NUMBER: 07255709) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
For the purpose of the cash flow statement, cash and cash equivalents comprises cash in hand and deposits held on call with the bank, all of which are available for use by the company unless otherwise stated. |
Financial assets |
The company's basic financial assets consist of cash and cash equivalents, trade debtors and other debtors. Trade and other debtors are measured initially at transaction price and subsequently at amortised cost. |
Financial liabilities |
The company's basic financial liabilities include trade creditors, loans from related parties and accruals which are measured initially at transaction price and subsequently at amortised cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | STOCKS |
30.6.23 | 30.6.22 |
£ | £ |
Work-in-progress |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
TWICE PS UK LIMITED (REGISTERED NUMBER: 07255709) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is Prima Sole Components s.p.a (incorporated in Italy). The registered office address is via Casilina sud, SNC Torrice (FR), Italy. |