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REGISTERED NUMBER: 13042899 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TWENTY-NINE HOLDINGS LTD

TWENTY-NINE HOLDINGS LTD (REGISTERED NUMBER: 13042899)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TWENTY-NINE HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: G M Mullan





REGISTERED OFFICE: Thameside House
Hurst Road
East Molesey
KT8 9AY





REGISTERED NUMBER: 13042899 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Riverside House
40-46 High Street
Maidstone
Kent
ME14 1JH

TWENTY-NINE HOLDINGS LTD (REGISTERED NUMBER: 13042899)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,467,650 1,465,657

CURRENT ASSETS
Debtors 5 313 156
Cash at bank 2,066 3,932
2,379 4,088
CREDITORS
Amounts falling due within one year 6 1,077,163 1,078,106
NET CURRENT LIABILITIES (1,074,784 ) (1,074,018 )
TOTAL ASSETS LESS CURRENT LIABILITIES 392,866 391,639

CREDITORS
Amounts falling due after more than one year 7 368,383 385,639
NET ASSETS 24,483 6,000

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 24,482 5,999
SHAREHOLDERS' FUNDS 24,483 6,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 April 2024 and were signed by:





G M Mullan - Director


TWENTY-NINE HOLDINGS LTD (REGISTERED NUMBER: 13042899)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Twenty-Nine Holdings Ltd 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
Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The director confirms that he considers that the going concern basis remains appropriate. The director believes that the company has sufficient resources to continue in operational existence for the foreseeable future. The director believes this to be the case as the company has positive reserves and the support of the director, who is the largest creditor, has confirmed that he will not demand repayment of amounts owing to the detriment of the company's ability to meet it's liabilities as they fall due for the foreseeable future. The director confirms financial facilities will remain available to the company for at least the next 12 months.

Thus the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover comprises of rental income recognised on an accrual basis.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Debtors
Short term debtors are measured at transaction prices, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

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 accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TWENTY-NINE HOLDINGS LTD (REGISTERED NUMBER: 13042899)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 1,465,657
Additions 1,993
At 31 December 2023 1,467,650
NET BOOK VALUE
At 31 December 2023 1,467,650
At 31 December 2022 1,465,657

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 313 156

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 22,389 15,730
Trade creditors 552 193
Corporation tax 4,336 1,617
Other creditors 1,000 1,002
Directors' loan accounts 1,046,311 1,057,224
Accruals and deferred income 2,575 2,340
1,077,163 1,078,106

There are three charges in relation to certain assets of the company.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 368,383 385,639

TWENTY-NINE HOLDINGS LTD (REGISTERED NUMBER: 13042899)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans 278,827 322,719

As at the balance sheet date the loan figure is comprised of three mortgages. The mortgages were taken out during the year and are secured against the properties.

The first mortgage is repayable in monthly instalments over 30 years. For the next 41 months, interest will be charged at a fixed rate of 2.95%. For the final 300 months, interest will be charged at a variable rate.

The second mortgage is repayable in monthly instalments over 25 years. For the next 41 months, interest will be charged at a fixed rate of 2.95%. For the final 240 months, interest will be charged at a variable rate.

The third mortgage is repayable in monthly instalments over 25 years. Interest is being charged at a rate of 2.69%.

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 22,389 15,730

Amounts falling due between one and two years:
Bank loans 89,556 62,920

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 278,827 322,719

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary Shares £1 1 1

10. RESERVES
Retained
earnings
£   

At 1 January 2023 5,999
Profit for the year 18,483
At 31 December 2023 24,482

TWENTY-NINE HOLDINGS LTD (REGISTERED NUMBER: 13042899)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. RELATED PARTY DISCLOSURES

G Mullan
Director

Included within creditors is a balance of £1,046,311 (2022: £1,057,224) owing to G Mullan, director. The loan is interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

As at the balance sheet date the company believes G Mullan to be the ultimate controlling party.