Company Registration No. 09060657 (England and Wales)
Twisted Solutions Limited
Unaudited accounts
for the year ended 31 May 2023
Twisted Solutions Limited
Unaudited accounts
Contents
Twisted Solutions Limited
Company Information
for the year ended 31 May 2023
Directors
Paul Coles
Katie Coles
Company Number
09060657 (England and Wales)
Registered Office
19 Barley Way
Elsenham
Bishop's Stortford
CM22 6GX
Accountants
Barley Grove Financial Solutions Limited
19 Barley Way
Elsenham
Bishop's Stortford
CM22 6GX
Twisted Solutions Limited
Statement of financial position
as at 31 May 2023
Tangible assets
2,210
3,081
Cash at bank and in hand
22,889
4,863
Creditors: amounts falling due within one year
(31,297)
(18,536)
Net current assets/(liabilities)
11,427
(2,916)
Called up share capital
2
2
Profit and loss account
13,635
163
Shareholders' funds
13,637
165
For the year ending 31 May 2023 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 19 February 2024 and were signed on its behalf by
Paul Coles
Director
Company Registration No. 09060657
Twisted Solutions Limited
Notes to the Accounts
for the year ended 31 May 2023
Twisted Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 09060657. The registered office is 19 Barley Way, Elsenham, Bishop's Stortford, CM22 6GX.
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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.
Significant judgements and estimates
No significant judgements or estimates have had to be made by the directors in preparing these financial statements.
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.
Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.
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.
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:
Other tangible fixed assets
25% Straight Line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Twisted Solutions Limited
Notes to the Accounts
for the year ended 31 May 2023
Tax 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 tax 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 statement of financial position date.
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.
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Tangible fixed assets
Total
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Average number of employees
During the year the average number of employees was 2 (2022: 2).
