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REGISTERED NUMBER: 07255709 (England and Wales)















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: L L Carlini



SECRETARY: Regent Corporate Secretaries Limited



REGISTERED OFFICE: 37-38 Long Acre
London
WC2E 9JT



REGISTERED NUMBER: 07255709 (England and Wales)



SENIOR STATUTORY AUDITOR: Robert Nissen F.C.A.



AUDITORS: Stein Richards
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 9,478 25,269
Debtors 5 583,403 1,062,146
Cash at bank 311,057 108,226
903,938 1,195,641
CREDITORS
Amounts falling due within one year 6 840,889 1,310,883
NET CURRENT ASSETS/(LIABILITIES) 63,049 (115,242 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,049

(115,242

)

CAPITAL AND RESERVES
Called up share capital 4,309,464 4,309,464
Retained earnings (4,246,415 ) (4,424,706 )
SHAREHOLDERS' FUNDS 63,049 (115,242 )

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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 27 March 2025 and were signed by:





L L Carlini - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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 1 (2022 - 1 ) .

4. STOCKS
30.6.23 30.6.22
£    £   
Work-in-progress 9,478 25,269

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 378,663 909,862
Other debtors 204,740 152,284
583,403 1,062,146

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 248,071 309,113
Amounts owed to group undertakings 560,279 839,303
Taxation and social security 2,000 2,939
Other creditors 30,539 159,528
840,889 1,310,883

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Nissen F.C.A. (Senior Statutory Auditor)
for and on behalf of Stein Richards

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.