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Company Registration No. 11319497 (England and Wales)
Two Guys Research Limited Unaudited accounts for the year ended 30 April 2025
Two Guys Research Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Two Guys Research Limited Company Information for the year ended 30 April 2025
Directors
M J Tillett P A Summers
Company Number
11319497 (England and Wales)
Registered Office
NBV Enterprise Centre David Lane Nottingham NG6 0JU England
Accountants
ML Accounts & Tax Services 5 Thornescroft Gardens Branston Burton on Trent Staffordshire DE14 3GL
- 3 -
Two Guys Research Limited Statement of financial position as at 30 April 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
10,655
10,655
Tangible assets
5
129,439
103,845
140,094
114,500
Current assets
Debtors
6
293,903
137,265
Cash at bank and in hand
253,336
288,907
547,239
426,172
Creditors: amounts falling due within one year
7
(181,185)
(69,308)
Net current assets
366,054
356,864
Total assets less current liabilities
506,148
471,364
Provisions for liabilities
Deferred tax
8
(32,360)
(25,961)
Net assets
473,788
445,403
Capital and reserves
Called up share capital
100
100
Profit and loss account
473,688
445,303
Shareholders' funds
473,788
445,403
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2025 and were signed on its behalf by
M J Tillett Director Company Registration No. 11319497
- 4 -
Two Guys Research Limited Notes to the Accounts for the year ended 30 April 2025
1
Statutory information
Two Guys Research Limited is a private company, limited by shares, registered in England and Wales, registration number 11319497. The registered office is NBV Enterprise Centre, David Lane, Nottingham, NG6 0JU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
20% straight line
Motor vehicles
25% reducing balance
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation.
Deferred taxation
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 accounts. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
- 5 -
Two Guys Research Limited Notes to the Accounts for the year ended 30 April 2025
4
Intangible fixed assets
Other
£
Cost
At 1 May 2024
10,655
At 30 April 2025
10,655
Amortisation
At 1 May 2024
-
At 30 April 2025
-
Net book value
At 30 April 2025
10,655
At 30 April 2024
10,655
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 May 2024
-
19,519
170,605
29,798
219,922
Additions
9,867
3,786
43,849
3,862
61,364
At 30 April 2025
9,867
23,305
214,454
33,660
281,286
Depreciation
At 1 May 2024
-
16,832
70,916
28,329
116,077
Charge for the year
987
2,061
30,298
2,424
35,770
At 30 April 2025
987
18,893
101,214
30,753
151,847
Net book value
At 30 April 2025
8,880
4,412
113,240
2,907
129,439
At 30 April 2024
-
2,687
99,689
1,469
103,845
6
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
286,979
120,148
Accrued income and prepayments
6,909
10,301
Other debtors
15
6,816
293,903
137,265
7
Creditors: amounts falling due within one year
2025
2024
£
£
VAT
72,467
17,158
Trade creditors
24,487
17,579
Taxes and social security
67,328
26,550
Loans from directors
15,608
6,766
Accruals
1,295
1,255
181,185
69,308
- 6 -
Two Guys Research Limited Notes to the Accounts for the year ended 30 April 2025
8
Deferred taxation
2025
2024
£
£
Accelerated capital allowances
32,360
25,961
2025
2024
£
£
Provision at start of year
25,961
5,515
Charged to the profit and loss account
6,399
20,446
Provision at end of year
32,360
25,961
9
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
6,816
99,119
105,920
15
6,816
99,119
105,920
15
10
Average number of employees
During the year the average number of employees was 2 (2024: 2).
11
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 May 2023
30 April 2024
£
£
Capital and reserves (as previously stated)
456,235
445,403
Deferred tax
(5,515)
-
Capital and reserves (as restated)
450,720
445,403
- 7 -