Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| Investments | 4 |
|
|
|
| 17,389 | 25,608 | |||
| Current assets | ||||
| Stocks |
|
|
||
| Debtors | 5 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 230,258 | 211,054 | |||
| Creditors: amounts falling due within one year | 6 | (
|
(
|
|
| Net current liabilities | (10,177) | (5,791) | ||
| Total assets less current liabilities | 7,212 | 19,817 | ||
| Creditors: amounts falling due after more than one year | 7 | (
|
(
|
|
| Provision for liabilities | 8 | (
|
(
|
|
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital |
|
|
||
| Profit and loss account |
|
|
||
| Total shareholder's funds |
|
|
Director's responsibilities:
The financial statements of Ali-Clad by TWN Limited (registered number:
|
R Hewitt
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Ali-Clad by TWN Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 5 Gables Yard The Green, Pulham Market, Diss, IP21 4SY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Vehicles |
|
| Office equipment |
|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors, creditors and loans from related parties.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
|
|
| Vehicles | Office equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 April 2024 |
|
|
|
||
| Additions |
|
|
|
||
| Disposals | (
|
|
(
|
||
| At 31 March 2025 |
|
|
|
||
| Accumulated depreciation | |||||
| At 01 April 2024 |
|
|
|
||
| Charge for the financial year |
|
|
|
||
| Disposals | (
|
|
(
|
||
| At 31 March 2025 |
|
|
|
||
| Net book value | |||||
| At 31 March 2025 | 1,899 | 7,948 | 9,847 | ||
| At 31 March 2024 | 7,790 | 10,276 | 18,066 |
| 2025 | 2024 | ||
| £ | £ | ||
| Other investments and loans |
|
|
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Amounts owed by Group undertakings |
|
|
|
| Prepayments |
|
|
|
|
|
|
| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
|
|
|
| Trade creditors |
|
|
|
| Amounts owed to Group undertakings |
|
|
|
| Amounts owed to director |
|
|
|
| Accruals |
|
|
|
| Corporation tax |
|
|
|
| Other taxation and social security |
|
|
|
|
|
|
| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
|
|
| 2025 | 2024 | ||
| £ | £ | ||
| At the beginning of financial year | (
|
(
|
|
| Credited/(charged) to the Income Statement |
|
(
|
|
| At the end of financial year | (
|
(
|
The director has a loan account with the company. Interest is chargeable on these loans at the discretion of the director. The director has agreed that there will be no intrest charged on the loans during the year.
At the year end the company owed the director £1,495 (2024: £1,166).