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REGISTERED NUMBER: 04016798 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Twinvest Limited

Twinvest Limited (Registered number: 04016798)






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




Page

Company Information 1

Report of the Director 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Statement of Changes in Equity 6

Notes to the Financial Statements 7


Twinvest Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: P Groenbaek





REGISTERED OFFICE: Office 7
35-37 Ludgate Hill
London
EC4M 7JN





REGISTERED NUMBER: 04016798 (England and Wales)





ACCOUNTANTS: Krogh & Partners Limited
823 Salisbury House
29 Finsbury Circus
London
EC2M 5QQ

Twinvest Limited (Registered number: 04016798)

Report of the Director
for the Year Ended 31 December 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the Company has been that of trading and consultancy within the music industry.

REVIEW OF BUSINESS
The results for the year and the financial position at the year end, were considered satisfactory by the director.

DIRECTOR
P Groenbaek held office during the whole of the period from 1 January 2023 to the date of this report.

RESULTS
The Company's profit for the year amounted to GBP 2,887.

POST BALANCE SHEET EVENTS
No post balance sheet events have occurred since 31 December 2023 which requires reporting or disclosing in the accounts.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

BY ORDER OF THE BOARD:





P Groenbaek - Director


19 September 2024

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Twinvest Limited (Registered number: 04016798)


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Twinvest Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Twinvest Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Twinvest Limited and state those matters that we have agreed to state to the director of Twinvest Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Twinvest Limited and its director for our work or for this report.

It is your duty to ensure that Twinvest Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Twinvest Limited. You consider that Twinvest Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Twinvest Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Krogh & Partners Limited
823 Salisbury House
29 Finsbury Circus
London
EC2M 5QQ


19 September 2024

Twinvest Limited (Registered number: 04016798)

Income Statement
for the Year Ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER - -

Administrative expenses 1,107 1,107
OPERATING LOSS (1,107 ) (1,107 )

Interest receivable and similar income 3,994 -
2,887 (1,107 )

Interest payable and similar expenses - 689
PROFIT/(LOSS) BEFORE TAXATION 2,887 (1,796 )

Tax on profit/(loss) 3 - -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

2,887

(1,796

)

Twinvest Limited (Registered number: 04016798)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 233,370 457,575

CREDITORS
Amounts falling due within one year 5 10,000 12,887
NET CURRENT LIABILITIES (10,000 ) (12,887 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

223,370

444,688

CAPITAL AND RESERVES
Called up share capital 6 100 100
Revaluation reserve 7 207,753 431,958
Retained earnings 7 15,517 12,630
SHAREHOLDERS' FUNDS 223,370 444,688

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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





P Groenbaek - Director


Twinvest Limited (Registered number: 04016798)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2022 100 14,426 449,593 464,119

Changes in equity
Total comprehensive income - (1,796 ) (17,635 ) (19,431 )
Balance at 31 December 2022 100 12,630 431,958 444,688

Changes in equity
Total comprehensive income - 2,887 (224,205 ) (221,318 )
Balance at 31 December 2023 100 15,517 207,753 223,370

Twinvest Limited (Registered number: 04016798)

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

1. 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 as modified by the revaluation of certain assets.

The more significant of these accepted policies are referred to in the notes below.

Turnover

Turnover represents the amount receivable for work done, and excludes Value Added Tax.

Foreign currencies

Transactions in foreign currencies are recorded using the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date. Gains or losses on translation are included in the profit and loss account.

Investments

Investments in other companies where the Company holds 50% or more are stated at the Company's share of the value of the underlying net assets less provisions. The positive revaluation from cost to underlying net assets value is recorded through the revaluation reserve. The negative revaluation is included in the profit and loss account.
Investments in other companies where the Company holds less than 50% of the shares are stated at cost.

Creditors

Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortized cost.

Consolidation

The company and its subsidiaries comprised as a small group. The company has therefore chosen not to prepare group accounts in accordance with the provisions provided in section 398 of the Companies Act 2006.

2. EMPLOYEES AND DIRECTORS

There were no other employees than the director.

3. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose on ordinary activities for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Twinvest Limited (Registered number: 04016798)

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2023 457,575
Revaluations (224,205 )
At 31 December 2023 233,370
NET BOOK VALUE
At 31 December 2023 233,370
At 31 December 2022 457,575

Cost or valuation at 31 December 2023 is represented by:
Shares in
group
undertakings
£
Valuation in 2013 129,193
Valuation in 2014 15,243
Valuation in 2015 (37,847 )
Valuation in 2016 37,945
Valuation in 2017 148,600
Valuation in 2018 14,950
Valuation in 2019 (19,575 )
Valuation in 2020 169,662
Valuation in 2021 (8,578 )
Valuation in 2022 (17,635 )
Valuation in 2023 (224,205 )
Cost 25,617
233,370



The company's investments at the Balance Sheet date in the share capital of companies include the following:

All Ears ApS
Registered office: in Denmark
Nature of business: Consultancy and investment
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 233,370 457,575
Loss for the year (5,253 ) (30,985 )

The Company has invested GBP 13,271.

Twinvest Limited (Registered number: 04016798)

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

4. FIXED ASSET INVESTMENTS - continued

Karlear
Registered office: in the Isle of Man
Nature of business:
%
Class of shares: holding
Ordinary 4.00

The company has invested GBP 12,346. The shares have been written down to GBP 1.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Current account associated
company 6,926 9,813
Other creditors 2,414 2,414
Accruals and deferred income 660 660
10,000 12,887

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

7. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2023 12,630 431,958 444,588
Profit for the year 2,887 2,887
Revaluation for the year - (224,205 ) (224,205 )
At 31 December 2023 15,517 207,753 223,270

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.