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Registration number: SC360485

TWS D1 Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

TWS D1 Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

TWS D1 Limited

Company Information

Director

Mrs Wilma Smith

Registered office

The Old Coach House
Hattonburn
Milnathort
Kinross
KY13 0SA

Accountants

Ross McConnell
Chartered Accountant3 High Street
Kinross
KY13 8AW

 

TWS D1 Limited

(Registration number: SC360485)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed Assets

 

Investment property

4

181,800

181,800

Current assets

 

Debtors

5

88,618

77,838

Cash at bank and in hand

 

29

104

 

88,647

77,942

Creditors: Amounts falling due within one year

6

(172,870)

(712)

Net current (liabilities)/assets

 

(84,223)

77,230

Total assets less current liabilities

 

97,577

259,030

Creditors: Amounts falling due after more than one year

6

(1,000)

(173,708)

Net assets

 

96,577

85,322

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

96,477

85,222

Shareholders' funds

 

96,577

85,322

For the financial year ending 30 June 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 her 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 and 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 25 March 2025
 

.........................................
Mrs Wilma Smith
Director

 

TWS D1 Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
The Old Coach House
Hattonburn
Milnathort
Kinross
KY13 0SA

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation resewrve unless a deifict, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This is in accordance with FRS 102 which, unlike Schedule 4 to the Companies Act 1985, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

 

TWS D1 Limited

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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).

 

TWS D1 Limited

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

4

Investment properties

2024
£

At 1 July 2021 and 30 June 2022

181,800

The director has considered the valuation of the investment properties at 30 June 2022 and does not believe the value to be less than £181,800.

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

88,618

77,838

   

88,618

77,838

 

TWS D1 Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

172,708

-

Other creditors

 

162

712

 

172,870

712

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,000

173,708

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,000

173,708

Current loans and borrowings

2024
£

2023
£

Other borrowings

172,708

-

 

TWS D1 Limited

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

9

Parent and ultimate parent undertaking

The company's immediate and ultimate parent is Twinkling Star Limited, incorporated in Scotland.