Company Registration No. 03157670 (England and Wales)
TWENTY TWENTY RESEARCH LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
TWENTY TWENTY RESEARCH LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
TWENTY TWENTY RESEARCH LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
763
547
Current assets
Debtors
177,423
218,975
Cash at bank and in hand
55,994
18,360
233,417
237,335
Creditors: amounts falling due within one year
(62,053)
(49,320)
Net current assets
171,364
188,015
Total assets less current liabilities
172,127
188,562
Capital and reserves
Called up share capital
3
110
110
Profit and loss account
172,017
188,452
Shareholders' funds
172,127
188,562
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 12 February 2017
Mr KW Tyrrell
Mr RA Peters
Director
Director
Company Registration No. 03157670
TWENTY TWENTY RESEARCH LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
33.3% per annum on cost
Fixtures, fittings & equipment
20% per annum on cost
1.4
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015
108,889
Additions
845
At 30 June 2016
109,734
Depreciation
At 1 July 2015
108,342
Charge for the year
629
At 30 June 2016
108,971
Net book value
At 30 June 2016
763
At 30 June 2015
547
TWENTY TWENTY RESEARCH LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
10 'A' Non voting ordinary shares of £1 each
10
10
110
110
4
Related party relationships and transactions
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
J Peters -
3.00
19,325
18,000
672
(20,000)
17,997
RA Peters -
3.00
41,215
86,500
1,828
(82,000)
47,543
KW Tyrrell -
3.00
81,413
46,500
2,359
(82,000)
48,272
141,953
151,000
4,859
(184,000)
113,812
During the year the company operated current accounts with Mr RA Peters, Mr KW Tyrrell and Mrs J Peters, who are directors of the company. The company advanced cash to the directors throughout the year. The advances were repaid primarily in the form of dividends declared and salaries processed via the company payroll not drawn.
Other transactions
During the year, rent of £12,500 (2015: £12,500) was paid to Mr R A Peters, a director and shareholder of the company.
2016-06-302015-07-01falsetruetruetruetruetruetmpEBBA.html2017-02-14During the year the company operated current accounts with Mr RA Peters, Mr KW Tyrrell and Mrs J Peters, who are directors of the company. The company advanced cash to the directors throughout the year. The advances were repaid primarily in the form of dividends declared and salaries processed via the company payroll not drawn.During the year the company operated current accounts with Mr RA Peters, Mr KW Tyrrell and Mrs J Peters, who are directors of the company. The company advanced cash to the directors throughout the year. The advances were repaid primarily in the form of dividends declared and salaries processed via the company payroll not drawn.031576702015-07-012016-06-30031576702016-06-30031576702015-06-30031576702015-06-3003157670uk-bus:CompanySecretaryDirector2015-07-012016-06-3003157670uk-bus:Director12015-07-012016-06-3003157670uk-gaap:ComputerEquipment2015-07-012016-06-3003157670uk-gaap:FixturesFittingsToolsEquipment2015-07-012016-06-3003157670uk-bus:OrdinaryShareClass12015-07-012016-06-3003157670uk-bus:OrdinaryShareClass22015-07-012016-06-3003157670uk-bus:OrdinaryShareClass12016-06-3003157670uk-bus:OrdinaryShareClass22016-06-3003157670uk-bus:OrdinaryShareClass12015-06-3003157670uk-bus:OrdinaryShareClass22015-06-3003157670uk-bus:Director22015-07-012016-06-3003157670uk-bus:Director22016-06-3003157670uk-bus:Director12016-06-3003157670uk-bus:CompanySecretaryDirector2016-06-3003157670uk-bus:AllEntityOfficers2015-07-012016-06-3003157670uk-bus:AllEntityOfficers2016-06-3003157670uk-bus:CompanySecretary2015-07-012016-06-30xbrli:purexbrli:sharesiso4217:GBP
