T.W.O._SERVICES_LIMITED - Accounts

T.W.O. SERVICES LIMITED - Company Information

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Company Registration No. 02029944 (England and Wales)

T.W.O. SERVICES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

T.W.O. SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

T.W.O. SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

62,492

78,344

Current assets

Stocks

4,100

Debtors

1,012,248

996,023

Cash at bank and in hand

445,948

402,625

1,462,296

1,402,748

Creditors: amounts falling due within one year

(1,190,561)

(1,274,262)

Net current assets

271,735

128,486

Total assets less current liabilities

334,227

206,830

Creditors: amounts falling due after more than one year

(2,278)

(11,100)

331,949

195,730

Capital and reserves

Called up share capital

226

Revaluation reserve

28,187

Profit and loss account

303,536

167,317

Shareholders' funds

331,949

195,730

For the financial year ended 30 September 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 15 March 2017

J A Osborn

Director

Company Registration No. 02029944

T.W.O. SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

1.4

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of ten years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

2% on cost or revalued amounts

Plant and machinery

At varying rates on cost

Motor vehicles

25% straight line basis

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

1.8

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.

T.W.O. SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost or valuation

At 1 October 2015 & at 30 September 2016

27,500

357,501

385,001

Depreciation

At 1 October 2015

27,500

279,157

306,657

Charge for the year

15,852

At 30 September 2016

27,500

295,009

322,509

Net book value

At 30 September 2016

62,492

At 30 September 2015

78,344

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £365,812 (2015 - £427,770).

Share capital

2016

2015

Allotted, called up and fully paid

15 Ordinary shares of £1 each

100 Ordinary A shares of £1 each

100

100 Ordinary B shares of £1 each

100

11 Ordinary C shares of £1 each

226