TWD Trading Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 09201009

TWD Trading Limited

Filleted Unaudited Abridged Financial Statements

31 March 2018

TWD Trading Limited

Abridged Financial Statements

Year Ended 31 March 2018

Contents	Pages

Officers and professional advisers	1

Abridged statement of financial position	2 to 3

Notes to the abridged financial statements	4 to 6

TWD Trading Limited

Officers and Professional Advisers

The board of directors	Mr T I Day
	Mrs W P Day

Registered office	16 Taverners Drive
	Ramsey
	Huntingdon
	Cambridgeshire
	England
	PE26 1SF

Accountants	SR Howell & Co
	Chartered Certified Accountants
	88 High Street
	Ramsey
	Huntingdon
	Cambs
	PE26 1BS

TWD Trading Limited

Abridged Statement of Financial Position

31 March 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	5	146,024	126,500

Current assets

Stocks	67,812	61,153
Debtors	1,777	22,508
Cash at bank and in hand	24,351	18,494
	--------	---------
	93,940	102,155

Creditors: amounts falling due within one year	203,728	202,931
	---------	---------
Net current liabilities	109,788	100,776
	---------	---------
Total assets less current liabilities	36,236	25,724
	--------	--------
Net assets	36,236	25,724
	--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	36,234	25,722
	--------	--------
Shareholders funds	36,236	25,724
	--------	--------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 31 March 2018 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 abridged 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 abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

TWD Trading Limited

Abridged Statement of Financial Position (continued)

31 March 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 10 July 2018 , and are signed on behalf of the board by:

„„„„„„„„„„„„„

Mr T I Day Director

Company registration number: 09201009

TWD Trading Limited

Notes to the Abridged Financial Statements

Year Ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 Taverners Drive, Ramsey, Huntingdon, Cambridgeshire, PE26 1SF, England.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

3.1 Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

3.2 Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

3.3 Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

3.4 Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

3.5 Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

3.6 Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	2% straight line
Fixtures & Fittings	-	20% reducing balance

3.7 Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3.8 Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Tangible assets

	£
Cost
At 1 April 2017	132,178
Additions	22,690
	---------
At 31 March 2018	154,868
	---------
Depreciation
At 1 April 2017	5,678
Charge for the year	3,166
	---------
At 31 March 2018	8,844
	---------
Carrying amount
At 31 March 2018	146,024
	---------
At 31 March 2017	126,500
	---------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Two directors	( 187,901)	( 2,574)	( 190,475)
	---------	-------	---------

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Two directors	( 133,137)	( 54,764)	( 187,901)
	---------	--------	---------