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COMPANY REGISTRATION NUMBER: 09387684
Twisted Vanilla Limited
Unaudited financial statements
31 January 2025
Twisted Vanilla Limited
Statement of financial position
31 January 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
5
9,608
15,506
Current assets
Debtors
6
171,106
114,612
Cash at bank and in hand
147,967
112,344
---------
---------
319,073
226,956
Creditors: Amounts falling due within one year
7
( 118,597)
( 84,749)
---------
---------
Net current assets
200,476
142,207
---------
---------
Total assets less current liabilities
210,084
157,713
Creditors: Amounts falling due after more than one year
8
( 24,074)
( 29,629)
Provisions
Taxation including deferred tax
( 1,445)
( 3,046)
---------
---------
Net assets
184,565
125,038
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
184,465
124,938
---------
---------
Shareholders funds
184,565
125,038
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Twisted Vanilla Limited
Statement of financial position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 27 April 2025 , and are signed on behalf of the board by:
M Tate
Director
Company registration number: 09387684
Twisted Vanilla Limited
Notes to the financial statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Manor Farm, New Offices, Ixworth Thorpe, Bury St Edmunds, Suffolk, IP31 1QH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 14 (2024: 14 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 February 2024
11,515
4,000
23,997
39,512
Additions
200
1,475
1,675
-------
------
-------
-------
At 31 January 2025
11,715
4,000
25,472
41,187
-------
------
-------
-------
Depreciation
At 1 February 2024
7,120
2,313
14,573
24,006
Charge for the year
1,117
422
6,034
7,573
-------
------
-------
-------
At 31 January 2025
8,237
2,735
20,607
31,579
-------
------
-------
-------
Carrying amount
At 31 January 2025
3,478
1,265
4,865
9,608
-------
------
-------
-------
At 31 January 2024
4,395
1,687
9,424
15,506
-------
------
-------
-------
6. Debtors
2025
2024
£
£
Trade debtors
98,046
73,369
Other debtors
73,060
41,243
---------
---------
171,106
114,612
---------
---------
7. Creditors: Amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
5,556
5,556
Trade creditors
804
6,764
Social security and other taxes
107,023
68,405
Other creditors
5,214
4,024
---------
-------
118,597
84,749
---------
-------
8. Creditors: Amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
24,074
29,629
-------
-------
Included within creditors: amounts falling due after more than one year is an amount of £1,852 (2024: £7,408) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9. Transition to frs102
These are the first financial statements that comply with FRS 102. The company adopted FRS 102 on 1 February 2023. The following adjustments were made in line with the transition:
Debit - Deferred Tax Charge £3,046
Credit - Deferred Tax Provision £3,046
10. Directors' advances, credits and guarantees
Included within debtors at the year end is a directors loan account totalling £66,807 (2024: £35,292). The maximum overdrawn balance during the year was £66,807 (2024: £57,924). Interest of £675 (2024: £531) was charged at the official rate.