Twin International Ltd
Registered number: 09697594
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Current assets
Stocks 559,170 688,780
Debtors 3 86,124 178,860
Cash at bank 14,922 18,848
660,216 886,488
Creditors: amounts falling due within one year 4 (310,317) (406,489)
Net current assets 349,899 479,999
Net assets 349,899 479,999
Capital and reserves
Called up share capital 100 100
Profit and loss account 349,799 479,899
Shareholders' funds 349,899 479,999
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T H Kim
Director
Approved by the board on 25 April 2025
Twin International Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 13
3 Debtors 2024 2023
£ £
Trade debtors 25,936 98,321
Other debtors 60,188 80,539
86,124 178,860
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 50,355 75,079
Other taxes and social security costs 8,796 8,757
Other creditors 251,166 322,653
310,317 406,489
5 Other information
Twin International Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6, Princess Court
Horace Road
Kingston Upon Thames
Surrey
KT1 2SL
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