Twyn Holdings Filleted accounts for Companies House (small and micro)

Twyn Holdings Filleted accounts for Companies House (small and micro)

TWYN HOLDINGS LIMITED - Company Information

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0 false false false false false false false false false true false false false false false false No description of principal activity 2021-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 25,187 227,763 252,950 252,950 25,187 xbrli:pure xbrli:shares iso4217:GBP 11158952 2021-01-01 2021-12-31 11158952 2021-12-31 11158952 2020-12-31 11158952 bus:Director1 2021-01-01 2021-12-31 11158952 core:WithinOneYear 2021-12-31 11158952 core:WithinOneYear 2020-12-31 11158952 core:ShareCapital 2021-12-31 11158952 core:ShareCapital 2020-12-31 11158952 core:SharePremium 2021-12-31 11158952 core:SharePremium 2020-12-31 11158952 core:OtherReservesSubtotal 2021-12-31 11158952 core:OtherReservesSubtotal 2020-12-31 11158952 core:RetainedEarningsAccumulatedLosses 2021-12-31 11158952 core:RetainedEarningsAccumulatedLosses 2020-12-31 11158952 core:CostValuation core:Non-currentFinancialInstruments 2020-12-31 11158952 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2021-12-31 11158952 core:CostValuation core:Non-currentFinancialInstruments 2021-12-31 11158952 core:Non-currentFinancialInstruments 2021-12-31 11158952 core:Non-currentFinancialInstruments 2020-12-31 11158952 bus:SmallEntities 2021-01-01 2021-12-31 11158952 bus:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 11158952 bus:FullAccounts 2021-01-01 2021-12-31 11158952 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 11158952 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31
COMPANY REGISTRATION NUMBER: 11158952
Twyn Holdings
Filleted Unaudited Financial Statements
31 December 2021
Twyn Holdings
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
Fixed assets
Investments
4
252,950
25,187
Current assets
Debtors
5
5,315,334
2,466,700
Cash at bank and in hand
101,599
555,936
------------
------------
5,416,933
3,022,636
Creditors: amounts falling due within one year
6
3,488,455
976,364
------------
------------
Net current assets
1,928,478
2,046,272
------------
------------
Total assets less current liabilities
2,181,428
2,071,459
------------
------------
Net assets
2,181,428
2,071,459
------------
------------
Capital and reserves
Called up share capital
2,524
2,399
Share premium account
2,287,533
2,054,106
Other reserves
252,949
25,186
Profit and loss account
( 361,578)
( 10,232)
------------
------------
Shareholders funds
2,181,428
2,071,459
------------
------------
These 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 Section 1A of 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 statement of comprehensive income has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Twyn Holdings
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 14 October 2022 , and are signed on behalf of the board by:
Mr T P Levy
Director
Company registration number: 11158952
Twyn Holdings
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 82 St John Street, London, EC1M 4JN.
2. Statement of compliance
These 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
Basis of preparation
The 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
4. Investments
Shares in group undertakings
£
Cost
At 1 January 2021
25,187
Additions
227,763
---------
At 31 December 2021
252,950
---------
Impairment
At 1 January 2021 and 31 December 2021
–
---------
Carrying amount
At 31 December 2021
252,950
---------
At 31 December 2020
25,187
---------
5. Debtors
2021
2020
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
5,241,705
2,466,699
Other debtors
73,629
1
------------
------------
5,315,334
2,466,700
------------
------------
6. Creditors: amounts falling due within one year
2021
2020
£
£
Other creditors
3,488,455
976,364
------------
---------
7. Share based payments
The company operates an equity based share option scheme with the terms varying by employee. Employees are not entitled to dividends until the shares are exercised.
A reconciliation of share options movements during the year ended 31 December 2021 is shown below:
Outstanding as at 1 January 2021: 289,680- £0.001
Granted during the year: 130,222 - £0.001
Forfeited during the year: nil - £nil
Exercised during the year: nil - £0.001
Outstanding as at 31 December 2021: 419,902 - £0.001
The company is unable to directly measure the fair value of the share options. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value share options schemes similar to that of the company.
Equity settled schemes - charges arising: £227,763 (2020 £-14,813).
8. Related party transactions
As at 31 December 2021 a director owed the company £66,312 which has been fully repaid post year end(2020: £nil).