Company Registration No. 12096220 (England and Wales)
Two Cans Digital Ltd
Unaudited accounts
for the year ended 31 July 2021
Two Cans Digital Ltd
Unaudited accounts
Contents
Two Cans Digital Ltd
Company Information
for the year ended 31 July 2021
Company Number
12096220 (England and Wales)
Registered Office
Eastham Hall
Eastham
CH62 0AF
Two Cans Digital Ltd
Statement of financial position
as at 31 July 2021
Tangible assets
7,901
15,803
Cash at bank and in hand
25,623
26,947
Creditors: amounts falling due within one year
(116,580)
(99,909)
Net current liabilities
(83,457)
(61,948)
Net liabilities
(75,556)
(46,145)
Called up share capital
100
100
Profit and loss account
(75,656)
(46,245)
Shareholders' funds
(75,556)
(46,145)
For the year ending 31 July 2021 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 3 March 2022 and were signed on its behalf by
J Long
Director
Company Registration No. 12096220
Two Cans Digital Ltd
Notes to the Accounts
for the year ended 31 July 2021
Two Cans Digital Ltd is a private company, limited by shares, registered in England and Wales, registration number 12096220. The registered office is Eastham Hall, Eastham, CH62 0AF.
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 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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Computer equipment
33% Straight Line
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
Two Cans Digital Ltd
Notes to the Accounts
for the year ended 31 July 2021
4
Tangible fixed assets
Computer equipment
5
Debtors: amounts falling due within one year
2021
2020
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
49,168
50,000
Taxes and social security
525
203
Loans from directors
66,887
49,706
7
Average number of employees
During the year the average number of employees was 1 (2020: 1).
