TWO'S Company Property Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04576729

TWO'S COMPANY PROPERTY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs D J Wilson

A J Wilson

SECRETARY:

Mrs D J Wilson

REGISTERED OFFICE:

5 Navigation Court

Calder Park

Wakefield

West Yorkshire

WF2 7BJ

REGISTERED NUMBER:

04576729

ACCOUNTANTS:

BPR Heaton

Chartered Accountants

27a Lidget Hill

Pudsey

Leeds

West Yorkshire

LS28 7LG

FIXED ASSETS

Investment property

4

609,051

609,051

CURRENT ASSETS

Debtors

5

-

477

Cash at bank and in hand

2,501

2,510

2,501

2,987

CREDITORS

Amounts falling due within one year

6

32,906

31,849

NET CURRENT LIABILITIES

(30,405

)

(28,862

)

TOTAL ASSETS LESS CURRENT LIABILITIES

578,646

580,189

CREDITORS

Amounts falling due after more than one year

7

473,748

495,969

NET ASSETS

104,898

84,220

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

104,896

84,218

104,898

84,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 14 December 2018 and were signed on its behalf by:

A J Wilson - Director

1.	STATUTORY INFORMATION

TWO'S Company Property Ltd is a private company, limited by shares , registered in Not

specified/Other. The company's registered number and registered office address can be found on the

Company Information page.

2.	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.

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

Turnover

Turnover represents rental income from property.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the

contractual provisions of the instrument.

Financial assets and liabilities are initially measured at transaction price, except for those financial

assets classified as at fair value through profit or loss.

Basic financial instruments

Basic financial instruments are those with relatively straight forward terms and would normally include

cash, bank balances, trade debtors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal

commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at

transaction price less impairment (if any) due to concerns over recoverability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

and 31 March 2018

609,051

NET BOOK VALUE

At 31 March 2018

609,051

At 31 March 2017

609,051

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as

restated

£

£

Other debtors

-

477

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

as

restated

£

£

Bank loans and overdrafts

25,076

25,076

Taxation and social security

4,850

3,990

Other creditors

2,980

2,783

32,906

31,849

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

as

restated

£

£

Bank loans

56,825

80,046

Other creditors

416,923

415,923

473,748

495,969

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

as

restated

£

£

Bank loans

81,901

105,122

National Westminster Bank PLC holds a fixed charge over the following properties;

27 Marshall Street, Stanley, Wakefield.

18 Durkar Lane, Durkar, Wakefield.

12 Durkar Lane, Durkar, Wakefield.

2 Princess Street, Sandall, Wakefield.

77 South Parade, Ossett, Wakefield.