Twenty Twenty Agency Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06354580 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2019

FOR

TWENTY TWENTY AGENCY LIMITED

Page

Company Information

1

Chartered Certified Accountant's Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

F Spencer

SECRETARY:

Ms T Bonakdar

REGISTERED OFFICE:

32B Kingsland Road

London

E2 8DA

REGISTERED NUMBER:

06354580 (England and Wales)

ACCOUNTANT:

Lescott Courts Limited

Chartered Certified Accountants

49 High Street

Burnham on Crouch

Essex

CM0 8AG

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial

statements of Twenty Twenty Agency Limited for the year ended 31 August 2019 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Twenty Twenty Agency Limited in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Twenty Twenty Agency Limited and state those matters that I have agreed to state to the director of Twenty Twenty Agency Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report.

It is your duty to ensure that Twenty Twenty Agency Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Twenty Twenty Agency Limited. You consider that Twenty Twenty Agency Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Twenty Twenty Agency Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Lescott Courts Limited

Chartered Certified Accountants

49 High Street

Burnham on Crouch

Essex

CM0 8AG

25 May 2020

FIXED ASSETS

Tangible assets

4

2,124

703

CURRENT ASSETS

Debtors

5

120,999

131,668

Cash at bank

26,310

83,994

147,309

215,662

CREDITORS

Amounts falling due within one year

6

148,941

199,440

NET CURRENT (LIABILITIES)/ASSETS

(1,632

)

16,222

TOTAL ASSETS LESS CURRENT LIABILITIES

492

16,925

PROVISIONS FOR LIABILITIES

404

134

NET ASSETS

88

16,791

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(12

)

16,691

SHAREHOLDERS' FUNDS

88

16,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 by the director and authorised for issue on 25 May 2020 and were signed by:

F Spencer - Director

1.	STATUTORY INFORMATION

Twenty Twenty Agency 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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 is recognised from the date a photo shoot has taken place and includes all associated reimbursed

expenditure in producing the photo shoot.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2018

8,337

Additions

3,140

Disposals

(1,208

)

At 31 August 2019

10,269

DEPRECIATION

At 1 September 2018

7,634

Charge for year

1,719

Eliminated on disposal

(1,208

)

At 31 August 2019

8,145

NET BOOK VALUE

At 31 August 2019

2,124

At 31 August 2018

703

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

120,489

122,913

Other debtors

510

8,755

120,999

131,668

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

101,199

18,388

Taxation and social security

43,608

74,627

Other creditors

4,134

106,425

148,941

199,440

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2019 and

31 August 2018:

2019

2018

£

£

F Spencer

Balance outstanding at start of year

-

39

Amounts advanced

510

-

Amounts repaid

-

(39

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

510

-

The above loan was unsecured and interest free. It was repaid on 25 May 2020.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is F Spencer.