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Company No: SC619302 (Scotland)

TWP INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH THE REGISTRAR

TWP INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024

Contents

TWP INVESTMENTS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
TWP INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
DIRECTOR Mr T Potter
SECRETARY Mr T Potter
REGISTERED OFFICE 4th Floor
115 George Street
Edinburgh
EH2 4JN
United Kingdom
COMPANY NUMBER SC619302 (Scotland)
ACCOUNTANT MHA
Richard House
9 Winckley Square
Preston
Lancashire
PR1 3HP
TWP INVESTMENTS LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2024
TWP INVESTMENTS LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 691,093 512,880
691,093 512,880
Current assets
Debtors 4 1,084 9,198
Cash at bank and in hand 5 686 50,211
1,770 59,409
Creditors: amounts falling due within one year 6 ( 294,912) ( 264,812)
Net current liabilities (293,142) (205,403)
Total assets less current liabilities 397,951 307,477
Creditors: amounts falling due after more than one year 7 ( 379,688) ( 338,130)
Net assets/(liabilities) 18,263 ( 30,653)
Capital and reserves
Called-up share capital 8 100 100
Revaluation reserve 9 89,782 0
Profit and loss account ( 71,619 ) ( 30,753 )
Total shareholder's funds/(deficit) 18,263 ( 30,653)

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of TWP Investments Limited (registered number: SC619302) were approved and authorised for issue by the Director on 31 October 2024. They were signed on its behalf by:

Mr T Potter
Director
TWP INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
TWP INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TWP Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 4th Floor, 115 George Street, Edinburgh, EH2 4JN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Rental income is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 February 2023 512,880 512,880
Additions 88,663 88,663
Revaluations 89,782 89,782
At 31 January 2024 691,325 691,325
Accumulated depreciation
At 01 February 2023 0 0
Charge for the financial year 232 232
At 31 January 2024 232 232
Net book value
At 31 January 2024 691,093 691,093
At 31 January 2023 512,880 512,880

4. Debtors

2024 2023
£ £
Deferred tax asset 0 8,157
Other debtors 1,084 1,041
1,084 9,198

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 686 50,211

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to related parties 263,291 263,291
Taxation and social security 0 101
Other creditors 31,621 1,420
294,912 264,812

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 379,688 338,130

There are fixed and floating charges on the assets of the company which security has been given.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each 100 100

9. Revaluation Reserve

Included within profit and loss reserves are non-distributable earnings totalling £89,872 (2023: £Nil)