Company Registration No. 04903013 (England and Wales)
TWISTER SOLUTIONS LIMITED
Unaudited accounts
for the year ended 30 September 2017
TWISTER SOLUTIONS LIMITED
Unaudited accounts
Contents
TWISTER SOLUTIONS LIMITED
Company Information
for the year ended 30 September 2017
Directors
Aaron Preston
Fraser Massey
Company Number
04903013 (England and Wales)
Registered Office
THE LODGE SUTTONS FARM
WALTONS HALL ROAD
STANFORD LE HOPE
ESSEX
SS17 0RH
TWISTER SOLUTIONS LIMITED
Statement of financial position
as at
30 September 2017
Cash at bank and in hand
4,157
3,778
Creditors: amounts falling due within one year
(38,410)
(29,072)
Net current assets
13,345
6,245
Total assets less current liabilities
13,735
6,886
Creditors: amounts falling due after more than one year
(12,660)
-
Provisions for liabilities
Called up share capital
1,000
1,000
Profit and loss account
1
5,758
Shareholders' funds
1,001
6,758
For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 June 2018.
Fraser Massey
Director
Company Registration No. 04903013
TWISTER SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 September 2017
TWISTER SOLUTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04903013. The registered office is THE LODGE SUTTONS FARM, WALTONS HALL ROAD, STANFORD LE HOPE, ESSEX, SS17 0RH.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 September 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
TWISTER SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 September 2017
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
At 30 September 2017
3,109
At 30 September 2017
2,719
Trade debtors
32,468
31,276
Accrued income and prepayments
488
263
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Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
4,652
-
Trade creditors
5,886
2,408
Taxes and social security
25,572
26,360
TWISTER SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 September 2017
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Creditors: amounts falling due after more than one year
2017
2016
8
Transactions with related parties
There is a balance owed by the directors at the yearend of £14,642 in respect of a short-term loan, which was repaid shortly after the year end. There were no fixed repayment terms and no interest charged on this loan. This is shown in the other debtors account.
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Average number of employees
During the year the average number of employees was 8 (2016: 7).