Twywell Developments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09546994 (England and Wales)

TWYWELL DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

SP Leahy

PI Tomkins

REGISTERED OFFICE:

11 Station Road

Kettering

Northamptonshire

NN15 7HH

REGISTERED NUMBER:

09546994 (England and Wales)

FIXED ASSETS

Tangible assets

5

20,550

24,900

CURRENT ASSETS

Stocks

430,575

278,909

Debtors

6

1,328

2,914

Cash at bank

5,691

3,497

437,594

285,320

CREDITORS

Amounts falling due within one year

7

429,432

311,562

NET CURRENT ASSETS/(LIABILITIES)

8,162

(26,242

)

TOTAL ASSETS LESS CURRENT LIABILITIES

28,712

(1,342

)

CREDITORS

Amounts falling due after more than one year

8

(8,707

)

(16,127

)

PROVISIONS FOR LIABILITIES

(4,007

)

-

NET ASSETS/(LIABILITIES)

15,998

(17,469

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

15,996

(17,471

)

SHAREHOLDERS' FUNDS

15,998

(17,469

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27th February 2018 and were signed on its behalf by:

SP Leahy - Director

1.	STATUTORY INFORMATION

Twywell Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	TRANSITION TO FRS102

This is the first year in which the financial statements have been prepared under FRS102 section 1A,

issued by the Financial Reporting Council. The financial statements for the period ended 30

September 2016 were prepared under previous UK GAAP. The transition date is therefore 16 April

2015. No transitional adjustments were required.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK

and Republic of Ireland" 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Financial instruments

The company is party to only the basic financial instruments such as cash, trade debtors and creditors

and loans. Instruments such as trade debtors and trade creditors are initially recognised at their

transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on

demand or due within one year, such as bank loans, are measured at amortised cost using the

effective interest rate.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st October 2016

33,200

-

33,200

Additions

-

2,500

2,500

At 30th September 2017

33,200

2,500

35,700

DEPRECIATION

At 1st October 2016

8,300

-

8,300

Charge for year

6,225

625

6,850

At 30th September 2017

14,525

625

15,150

NET BOOK VALUE

At 30th September 2017

18,675

1,875

20,550

At 30th September 2016

24,900

-

24,900

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1st October 2016

and 30th September 2017

33,200

DEPRECIATION

At 1st October 2016

8,300

Charge for year

6,225

At 30th September 2017

14,525

NET BOOK VALUE

At 30th September 2017

18,675

At 30th September 2016

24,900

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,328

2,914

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

7,420

7,420

Trade creditors

9,305

3,601

Amounts owed to associates

389,163

275,899

Taxation and social security

-

352

Other creditors

23,544

24,290

429,432

311,562

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

8,707

16,127

9.	RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest, companies in which

the entity has a participating interest and directors were all concluded under normal market conditions.