TWISTED GLOBAL LIMITED - Filleted accounts

TWISTED GLOBAL LIMITED - Filleted accounts


TWISTED GLOBAL LIMITED
Registered number: 09760629
Balance Sheet
as at 30 September 2016
Notes 2016
£
Fixed assets
Tangible assets 2 837
Current assets
Cash at bank and in hand 8,407
Creditors: amounts falling due within one year 3 (17,144)
Net current liabilities (8,737)
Net liabilities (7,900)
Capital and reserves
Profit and loss account (7,900)
Shareholders' funds (7,900)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Luke Reed
Director
Approved by the board on 30 June 2017
TWISTED GLOBAL LIMITED
Notes to the Accounts
for the period from 3 September 2015 to 30 September 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 1,116
At 30 September 2016 1,116
Depreciation
Charge for the period 279
At 30 September 2016 279
Net book value
At 30 September 2016 837
3 Creditors: amounts falling due within one year 2016
£
Bank loans and overdrafts 6,708
Trade creditors 3,409
Other taxes and social security costs 870
Other creditors 6,157
17,144
4 Controlling party
The ultimate controlling party is Mr Luke Charles Reed who owns 100% of the share capital of the company.
5 Other information
TWISTED GLOBAL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
24 Little London Court
Mill Street
London
United Kingdom
SE1 2BF
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