Company Registration No. 06240730 (England and Wales)
TWO GB LIMITED
Unaudited accounts
for the year ended 30 September 2020
TWO GB LIMITED
Statement of financial position
as at 30 September 2020
Tangible assets
663,160
679,739
Cash at bank and in hand
7,759
1,373
Creditors: amounts falling due within one year
(116,200)
(621,182)
Net current liabilities
(91,691)
(593,139)
Total assets less current liabilities
571,569
86,700
Creditors: amounts falling due after more than one year
(483,125)
-
Called up share capital
102
102
Profit and loss account
88,342
86,598
Shareholders' funds
88,444
86,700
For the year ending 30 September 2020 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 director acknowledges his 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 and authorised for issue on 28 February 2021 and were signed on its behalf by
David Andrew Pounds
Director
Company Registration No. 06240730
TWO GB LIMITED
Notes to the Accounts
for the year ended 30 September 2020
TWO GB LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06240730. The registered office is 1 CLIFTON MEWS, CLIFTON HILL, BRIGHTON, EAST SUSSEX, BN1 3HR.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation is provided on tangible fixed assets, except land, so as to write off the cost, less any estimated residual
value, over their expected useful economic life as follows:
Land & buildings
Freehold property 2%
4
Tangible fixed assets
Land & buildings
At 30 September 2020
902,676
Charge for the year
16,579
At 30 September 2020
239,516
At 30 September 2020
663,160
At 30 September 2019
679,739
TWO GB LIMITED
Notes to the Accounts
for the year ended 30 September 2020
5
Investments
Other investments
Valuation at 1 October 2019
100
Valuation at 30 September 2020
100
Trade debtors
16,750
21,986
Accrued income and prepayments
-
4,684
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
-
483,125
Taxes and social security
4,298
6,861
Loans from directors
111,902
123,878
8
Creditors: amounts falling due after more than one year
2020
2019
Allotted, called up and fully paid:
51 Ordinary shares - David Andrew Pounds of £1 each
51
51
51 Ordinary shares - Debra Helen Stokes of £1 each
51
51
10
Transactions with related parties
During the year (2020) D A Pounds provided a loan to the company and made payments on behalf of the company. This includes amounts paid by the directors on behalf of related undertakings which have been accounted for in the first instance as a creditor of Two GB Limited in accordance with the company policy. At the balance sheet date the amount due (to)/from D A Pounds was £38,384 , (2019 - £41,377).
At the balance sheet date (2020) the amount due (to)/from D H Stokes was £73,518 (2019 - £82,500).
The company is controlled by D A Pounds and D H Stokes both shareholders and officers of the company.
12
Average number of employees
During the year the average number of employees was 2 (2019: 2).
