Company Registration No. 08473931 (England and Wales)
Twin Productions Limited
Unaudited accounts
for the year ended 30 April 2022
Twin Productions Limited
Unaudited accounts
Contents
Twin Productions Limited
Company Information
for the year ended 30 April 2022
Company Number
08473931 (England and Wales)
Registered Office
Suite 107 The Tramworks
Hatherley Mews
Walthamstow
London
E17 4QP
Accountants
HJP Chartered
Audley House
Northbridge Road
Berkhamsted
Herts
HP4 1EH
Twin Productions Limited
Statement of financial position
as at
30 April 2022
Tangible assets
2,896
1,292
Cash at bank and in hand
243,579
103,145
Creditors: amounts falling due within one year
(365,300)
(199,964)
Net current assets
206,735
63,854
Net assets
209,631
65,146
Called up share capital
1
1
Profit and loss account
209,630
65,145
Shareholders' funds
209,631
65,146
For the year ending 30 April 2022 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 director acknowledges her 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.
The financial statements were approved by the Board and authorised for issue on 15 August 2022 and were signed on its behalf by
Danielle Hunt
Director
Company Registration No. 08473931
Twin Productions Limited
Notes to the Accounts
for the year ended 30 April 2022
Twin Productions Limited is a private company, limited by shares, registered in England and Wales, registration number 08473931. The registered office is Suite 107 The Tramworks, Hatherley Mews, Walthamstow, London, E17 4QP.
2
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
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 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 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:
Fixtures & fittings
20% straight line
Computer equipment
20% straight line
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
Twin Productions Limited
Notes to the Accounts
for the year ended 30 April 2022
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
Charge for the year
1,269
5
Debtors: amounts falling due within one year
2022
2021
Trade debtors
320,738
153,331
Accrued income and prepayments
7,718
5,511
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
140,241
92,129
Taxes and social security
47,602
34,594
Loans from directors
1,315
259
7
Operating lease commitments
2022
2021
At 30 April 2022 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
6,250
6,250
Twin Productions Limited
Notes to the Accounts
for the year ended 30 April 2022
8
Transactions with related parties
At the end of the year the company owed its director £1,315 (2021 - £260).
9
Average number of employees
During the year the average number of employees was 3 (2021: 3).