ACCOUNTS - Final Accounts preparation

TWF CAPITAL LIMITED - Company Information

Registered number: 11357094

TWF CAPITAL LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021


TWF CAPITAL LIMITED

CONTENTS

	Page
Balance sheet	1 - 2
Notes to the financial statements	3 - 5


TWF CAPITAL LIMITED REGISTERED NUMBER:11357094

BALANCE SHEET

AS AT 31 MARCH 2021

		2021		2020
Note		£		£

Fixed assets
Investments	4		100,000		100,000
			100,000		100,000

Creditors: amounts falling due within one year	5	(71,400)		(71,400)
Net current liabilities			(71,400)		(71,400)
Total assets less current liabilities			28,600		28,600
Creditors: amounts falling due after more than one year	6		(150,000)		(150,000)

Net liabilities			(121,400)		(121,400)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(121,500)	(121,500)
		(121,400)	(121,400)


TWF CAPITAL LIMITED REGISTERED NUMBER:11357094

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A Verma

Director

Date: 14 December 2021

The notes on pages 3 to 5 form part of these financial statements.


TWF CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

TWF Capital Limited is a private company, limited by shares, registered in England and Wales, registration number 11357094. The address of the registered office is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company continued to be that of a holding company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

2.2

Going concern

The directors are assessing, on a daily basis, the impact of the significant uncertainty arising from the COVID-19 virus. Whilst the directors appreciate there is a significant uncertainty surrounding the future economic climate, the company is well placed to address these impacts. The shareholder has agreed to continue to provide financial support to the company to satisfy its financial obligations for at least 12 months from the date of signature of the financial statements and therefore the accounts have been prepared on a going concern basis.

2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.


TWF CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.5

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).


TWF CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2020	100,000
	At 31 March 2021	100,000

5.	Creditors: amounts falling due within one year
		2021	2020
		£	£

Other creditors	56,400	56,400
Accruals	15,000	15,000
	71,400	71,400

6.	Creditors: amounts falling due after more than one year
		2021	2020
		£	£

	Other loans	150,000	150,000

7.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

100 Ordinary shares of £1.00 each	100	100

8.	Related party transactions
	At the year end, the company owed £56,400 (2020 - £56,400) to the directors. Loan is interest free and repayable on demand.