IRIS Accounts Production v24.1.9.2 06799288 Board of Directors 1.8.22 31.7.23 31.7.23 30.7.24 false true false false true false Auditors Opinion Ordinary share capital A 1.00000 Ordinary share capital B 1.00000 Ordinary share capital C 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh067992882022-07-31067992882023-07-31067992882022-08-012023-07-31067992882021-07-31067992882021-08-012022-07-31067992882022-07-3106799288ns15:EnglandWales2022-08-012023-07-3106799288ns14:PoundSterling2022-08-012023-07-3106799288ns10:Director12022-08-012023-07-3106799288ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3106799288ns10:SmallEntities2022-08-012023-07-3106799288ns10:Audited2022-08-012023-07-3106799288ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3106799288ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3106799288ns10:FullAccounts2022-08-012023-07-3106799288ns10:OrdinaryShareClass12022-08-012023-07-3106799288ns10:OrdinaryShareClass22022-08-012023-07-3106799288ns10:OrdinaryShareClass32022-08-012023-07-3106799288ns10:Director22022-08-012023-07-3106799288ns10:Director32022-08-012023-07-3106799288ns10:RegisteredOffice2022-08-012023-07-3106799288ns5:CurrentFinancialInstruments2023-07-3106799288ns5:CurrentFinancialInstruments2022-07-3106799288ns5:Non-currentFinancialInstruments2023-07-3106799288ns5:Non-currentFinancialInstruments2022-07-3106799288ns5:ShareCapital2023-07-3106799288ns5:ShareCapital2022-07-3106799288ns5:SharePremium2023-07-3106799288ns5:SharePremium2022-07-3106799288ns5:RetainedEarningsAccumulatedLosses2023-07-3106799288ns5:RetainedEarningsAccumulatedLosses2022-07-3106799288ns5:PlantMachinery2022-07-3106799288ns5:PlantMachinery2022-08-012023-07-3106799288ns5:PlantMachinery2023-07-3106799288ns5:PlantMachinery2022-07-3106799288ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3106799288ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3106799288ns5:Non-currentFinancialInstruments2022-08-012023-07-3106799288ns5:WithinOneYear2023-07-3106799288ns5:WithinOneYear2022-07-3106799288ns5:BetweenOneFiveYears2023-07-3106799288ns5:BetweenOneFiveYears2022-07-3106799288ns5:MoreThanFiveYears2023-07-3106799288ns5:MoreThanFiveYears2022-07-3106799288ns5:AllPeriods2023-07-3106799288ns5:AllPeriods2022-07-3106799288ns10:OrdinaryShareClass12023-07-3106799288ns10:OrdinaryShareClass22023-07-3106799288ns10:OrdinaryShareClass32023-07-31
REGISTERED NUMBER: 06799288 (England and Wales)















Financial Statements for the Year Ended 31 July 2023

for

Twinwoods Heat & Power Limited

Twinwoods Heat & Power Limited (Registered number: 06799288)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Twinwoods Heat & Power Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: M A Buckle
S P Colgan
A G Mallin





REGISTERED OFFICE: 15th Floor
33 Cavendish Square
London
W1G 0PW





REGISTERED NUMBER: 06799288 (England and Wales)

Twinwoods Heat & Power Limited (Registered number: 06799288)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,058,712 6,449,882

CURRENT ASSETS
Debtors 5 1,443,513 1,347,525
Cash at bank 1,260,079 1,532,801
2,703,592 2,880,326
CREDITORS
Amounts falling due within one year 6 974,928 702,143
NET CURRENT ASSETS 1,728,664 2,178,183
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,787,376

8,628,065

CREDITORS
Amounts falling due after more than one
year

7

7,483,906

7,533,906
NET ASSETS 303,470 1,094,159

CAPITAL AND RESERVES
Called up share capital 9 1,002 1,002
Share premium 6,523,552 6,523,552
Retained earnings (6,221,084 ) (5,430,395 )
SHAREHOLDERS' FUNDS 303,470 1,094,159

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





M A Buckle - Director


Twinwoods Heat & Power Limited (Registered number: 06799288)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Twinwoods Heat & Power Limited is a private company, limited by shares , registered in England and Wales. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The Directors have reviewed the company's strategy trading since the year end, and potential future developments including the expectation of increased revenue from processing hazardous waste wood. On this basis, there is a reasonable expectation that the company will have adequate resources to continue in operations for at least 12 months from the date of signing these financial statement. The Directors therefore have adopted the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant - 5% straight line
Equipment & machinery - 10% straight line
Fixtures & fittings 3 years - 33% straight line
Fixtures & fittings 5 years - 20% straight line
Computer equipment - 33% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Twinwoods Heat & Power Limited (Registered number: 06799288)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The finance cost of borrowing are allocated to periods over the term of the borrowings at a constant rate on the carrying amount. Accrued interest charges are added to the carrying amount.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 9,251,753
Additions 148,712
Disposals (28,620 )
At 31 July 2023 9,371,845
DEPRECIATION
At 1 August 2022 2,801,871
Charge for year 515,227
Eliminated on disposal (3,965 )
At 31 July 2023 3,313,133
NET BOOK VALUE
At 31 July 2023 6,058,712
At 31 July 2022 6,449,882

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 248,971 84,494
Amounts owed by group undertakings 212,404 212,404
Other debtors 28,556 -
Prepayments and accrued income 216,207 313,252
706,138 610,150

Twinwoods Heat & Power Limited (Registered number: 06799288)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Deferred tax asset 737,375 737,375

Aggregate amounts 1,443,513 1,347,525

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 269,103 275,259
Taxation and social security 39,568 55,174
Other creditors 616,257 321,710
974,928 702,143

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 112,500 162,500
Other creditors 7,371,406 7,371,406
7,483,906 7,533,906

The Company has entered into an agreement for funding of £7,371,406 fixed rate secured against the assets of the company. As at July 2023 £7,371,406 had been advanced to the company on which no interest (2022: £0) had been accrued. The loan notes are redeemable on 31 March 2026 or earlier at the option of the company.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 66,242 66,242
Between one and five years 264,970 264,970
In more than five years 134,481 200,724
465,693 531,936

Twinwoods Heat & Power Limited (Registered number: 06799288)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
302 Ordinary share capital A £1 302 302
200 Ordinary share capital B £1 200 200
500 Ordinary share capital C £1 500 500
1,002 1,002

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Botham (Senior Statutory Auditor)
for and on behalf of Botham Accounting Limited

11. CAPITAL COMMITMENTS

As at the year end 31 July 2023, the company had committed to purchase an asset totalling £260,750 of which an unpaid amount of £182,900 remained.

12. RELATED PARTY DISCLOSURES

At the year-end, an amount of £212,404 (2022: £212,404) was owed to the company by its parent company.

At the year end the balance owed to the directors in relation to their directors loan accounts was £477 (2022: £477)

Included within creditors due in more than one year is an amount of £3,000,000 (2022: £3,000,000) due to a director of the company, £462,435 (2022: £462,435) due to a company in which a director has a controlling interest and £3,462,238 (2022: £3,462,238) due to a close family member of a director.

Included within trade creditors are amounts of £3,600 (2022: £3,600) and £2,506 (2022: £6,906) due to a company in which the directors have a controlling interest.

13. ULTIMATE CONTROLLING PARTY

The ultimate parent company is European Generation Limited, which is controlled by A G Mallin and S P Colgan.