TWC Group Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09797343 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2022

for

TWC Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P J Seiden

REGISTERED OFFICE:

c/o Ency Associates

Printware Court

Cumberland Business Centre

Portsmouth

Hampshire

PO5 1DS

REGISTERED NUMBER:

09797343 (England and Wales)

ACCOUNTANTS:

Ency Associates

Chartered Certified Accountants

Printware Court

Cumberland Business Centre

Northumberland Road

Portsmouth

Hampshire

PO5 1DS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

33,934

38,961

33,934

38,961

CURRENT ASSETS

Stocks

5,000

500

Debtors

6

136,265

71,505

Cash at bank and in hand

60,058

122,015

201,323

194,020

CREDITORS

Amounts falling due within one year

7

112,435

103,120

NET CURRENT ASSETS

88,888

90,900

TOTAL ASSETS LESS CURRENT LIABILITIES

122,822

129,861

CREDITORS

Amounts falling due after more than one year

8

(37,038

)

(42,593

)

PROVISIONS FOR LIABILITIES

(5,739

)

(6,538

)

NET ASSETS

80,045

80,730

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

79,945

80,630

SHAREHOLDERS' FUNDS

80,045

80,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 14 June 2023 and were signed by:

P J Seiden - Director

1.	STATUTORY INFORMATION

TWC Group 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant & machinery

-

25% on reducing balance

Fixtures & fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2021

and 30 September 2022

3,000

AMORTISATION

At 1 October 2021

and 30 September 2022

3,000

NET BOOK VALUE

At 30 September 2022

-

At 30 September 2021

-

5.	TANGIBLE FIXED ASSETS

Plant &

Fixtures

Motor

Computer

machinery

& fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2021

1,000

1,073

48,460

14,145

64,678

Additions

-

2,491

6,000

1,104

9,595

At 30 September 2022

1,000

3,564

54,460

15,249

74,273

DEPRECIATION

At 1 October 2021

822

335

17,268

7,292

25,717

Charge for year

45

713

9,298

4,566

14,622

At 30 September 2022

867

1,048

26,566

11,858

40,339

NET BOOK VALUE

At 30 September 2022

133

2,516

27,894

3,391

33,934

At 30 September 2021

178

738

31,192

6,853

38,961

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Trade debtors

103,385

65,120

Other debtors

32,880

6,385

136,265

71,505

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.9.21

£

£

Trade creditors

23,676

19,300

Taxation and social security

39,232

35,148

Other creditors

49,527

48,672

112,435

103,120

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.22

30.9.21

£

£

Other creditors

37,038

42,593

30.9.22

30.9.21

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

14,815

20,370

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.9.22

30.9.21

£

£

In more than five years

66,000

78,000

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P J Seiden.