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REGISTERED NUMBER: 13475572 (England and Wales)


















TWT PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






TWT PROPERTIES LIMITED (REGISTERED NUMBER: 13475572)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TWT PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: O G Saunders-Jones
K Saunders-Jones





REGISTERED OFFICE: Ysgubor Llawen
Monknash
Cowbridge
Vale of Glamorgan
CF71 7QQ





REGISTERED NUMBER: 13475572 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

TWT PROPERTIES LIMITED (REGISTERED NUMBER: 13475572)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 11,529 13,362
Investment property 5 400,000 375,000
411,529 388,362

CURRENT ASSETS
Debtors 6 570 2,485
Cash at bank and in hand 641 2
1,211 2,487
CREDITORS
Amounts falling due within one year 7 (202,178 ) (286,465 )
NET CURRENT LIABILITIES (200,967 ) (283,978 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

210,562

104,384

CREDITORS
Amounts falling due after more than one
year

8

(97,400

)

-

PROVISIONS FOR LIABILITIES (63,024 ) (54,549 )
NET ASSETS 50,138 49,835

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 143,140 118,140
Retained earnings (93,004 ) (68,307 )
SHAREHOLDERS' FUNDS 50,138 49,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TWT PROPERTIES LIMITED (REGISTERED NUMBER: 13475572)

BALANCE SHEET - continued
30 JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





O G Saunders-Jones - Director


TWT PROPERTIES LIMITED (REGISTERED NUMBER: 13475572)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

TWT Properties Limited is a private company, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There have been no material departures from Financial Reporting Standard 102 1A.

GOING CONCERN
At 30 June 2024 the company had net current liabilities of £200,967. However, the going concern basis of preparation of the financial statements is considered appropriate in view of the fact that the directors' will continue to support the company financially for the foreseeable future to enable it to meet its liabilities as they fall due for payment.

Turnover
The turnover shown in the profit and loss account represents furnished holiday let income receivable during the year, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and Fittings - 20% on reducing balance

Investment property
Investment property is included at fair value. Gains are recognised in the profit and loss statement. Deferred taxation is provided on these gains at the rate expected to apply when the asset is sold.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

TWT PROPERTIES LIMITED (REGISTERED NUMBER: 13475572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
Fittings
£   
COST
At 1 July 2023 15,243
Additions 947
At 30 June 2024 16,190
DEPRECIATION
At 1 July 2023 1,881
Charge for year 2,780
At 30 June 2024 4,661
NET BOOK VALUE
At 30 June 2024 11,529
At 30 June 2023 13,362

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 375,000
Revaluations 25,000
At 30 June 2024 400,000
NET BOOK VALUE
At 30 June 2024 400,000
At 30 June 2023 375,000

The investment property was valued on a fair value basis at 30 June 2024 by the directors who do not have formal valuation qualifications. In valuing the property the directors have considered the market value of similar properties in the area.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 570 -
Amounts due from related party - 2,485
570 2,485

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,615 1,649
Trade creditors 254 -
VAT 369 809
Other creditors 1,611 657
Amounts due to related party 15 -
Directors' current accounts 194,115 281,599
Accruals and deferred income 2,199 1,751
202,178 286,465

TWT PROPERTIES LIMITED (REGISTERED NUMBER: 13475572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 3,927 -
Bank loans - 2-5 years 13,930 -
Bank loans due in more than 5
years by instalments 79,543 -
97,400 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5
years by instalments 79,543 -
79,543 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 101,015 -

The bank loan is secured by a fixed charge over the investment property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
2 2