IRIS Accounts Production v24.3.0.553 05739269 Board of Directors Board of Directors Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false Ordinary Shares 1.00000 Ordinary S Shares 100.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057392692023-06-30057392692024-06-30057392692023-07-012024-06-30057392692022-06-30057392692022-07-012023-06-30057392692023-06-3005739269ns15:EnglandWales2023-07-012024-06-3005739269ns14:PoundSterling2023-07-012024-06-3005739269ns10:Director12023-07-012024-06-3005739269ns10:Director22023-07-012024-06-3005739269ns10:Director32023-07-012024-06-3005739269ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3005739269ns10:SmallEntities2023-07-012024-06-3005739269ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3005739269ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3005739269ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3005739269ns10:FullAccounts2023-07-012024-06-3005739269ns10:OrdinaryShareClass12023-07-012024-06-3005739269ns10:OrdinaryShareClass22023-07-012024-06-3005739269ns10:CompanySecretary12023-07-012024-06-3005739269ns10:RegisteredOffice2023-07-012024-06-3005739269ns5:CurrentFinancialInstruments2024-06-3005739269ns5:CurrentFinancialInstruments2023-06-3005739269ns5:Non-currentFinancialInstruments2024-06-3005739269ns5:Non-currentFinancialInstruments2023-06-3005739269ns5:ShareCapital2024-06-3005739269ns5:ShareCapital2023-06-3005739269ns5:RetainedEarningsAccumulatedLosses2024-06-3005739269ns5:RetainedEarningsAccumulatedLosses2023-06-3005739269ns5:PlantMachinery2023-07-012024-06-3005739269ns5:PlantMachinery2023-06-3005739269ns5:PlantMachinery2024-06-3005739269ns5:PlantMachinery2023-06-3005739269ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3005739269ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3005739269ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-06-3005739269ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-06-3005739269ns10:OrdinaryShareClass12024-06-3005739269ns10:OrdinaryShareClass22024-06-3005739269ns5:RetainedEarningsAccumulatedLosses2023-06-3005739269ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-30
REGISTERED NUMBER: 05739269 (England and Wales)















TWIN TECHNOLOGY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






TWIN TECHNOLOGY LIMITED (REGISTERED NUMBER: 05739269)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TWIN TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: T S Ghai
L Rach
C Rach





SECRETARY: C Rach





REGISTERED OFFICE: 21 Station Road
Ground Floor (St Albans Road Wing),
Watford
Hertfordshire
WD17 1AP





REGISTERED NUMBER: 05739269 (England and Wales)





ACCOUNTANTS: Albury Associates Limited
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

TWIN TECHNOLOGY LIMITED (REGISTERED NUMBER: 05739269)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,846 5,287
Investments 5 900,001 900,001
903,847 905,288

CURRENT ASSETS
Stocks 28,681 16,742
Debtors 6 1,328,376 2,240,438
Cash at bank 246,560 365,439
1,603,617 2,622,619
CREDITORS
Amounts falling due within one year 7 843,429 1,660,695
NET CURRENT ASSETS 760,188 961,924
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,664,035

1,867,212

CREDITORS
Amounts falling due after more than one year 8 567,500 644,545
NET ASSETS 1,096,535 1,222,667

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 10 1,096,335 1,222,467
SHAREHOLDERS' FUNDS 1,096,535 1,222,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

TWIN TECHNOLOGY LIMITED (REGISTERED NUMBER: 05739269)

BALANCE SHEET - continued
30 JUNE 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:




L Rach - Director C Rach - Director




T S Ghai - Director


TWIN TECHNOLOGY LIMITED (REGISTERED NUMBER: 05739269)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Twin Technology 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.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

TWIN TECHNOLOGY LIMITED (REGISTERED NUMBER: 05739269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 27,941
Additions 1,386
At 30 June 2024 29,327
DEPRECIATION
At 1 July 2023 22,654
Charge for year 2,827
At 30 June 2024 25,481
NET BOOK VALUE
At 30 June 2024 3,846
At 30 June 2023 5,287

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Annuities 900,001 900,001

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 558,903 1,452,043
Amounts owed by associates 248,098 220,936
Other debtors 221,373 265,959
1,028,374 1,938,938

Amounts falling due after more than one year:
Other debtors 300,002 301,500

Aggregate amounts 1,328,376 2,240,438

TWIN TECHNOLOGY LIMITED (REGISTERED NUMBER: 05739269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 54,546 54,546
Trade creditors 367,350 804,111
Taxation and social security 129,797 140,146
Other creditors 291,736 661,892
843,429 1,660,695

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 50,000 104,545
Other creditors 517,500 540,000
567,500 644,545

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary Shares 1p 100 100
1 Ordinary S Shares £100 100 100
200 200

The Ordinary and Ordinary S Shares are ranked pari passu in all respects.

10. RESERVES
Retained
earnings
£   

At 1 July 2023 1,222,467
Deficit for the year (27,084 )
Dividends (99,048 )
At 30 June 2024 1,096,335

TWIN TECHNOLOGY LIMITED (REGISTERED NUMBER: 05739269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


11. RELATED PARTY DISCLOSURES

Included within other debtors is an amount of £43,980 (2023: £43,854) owed from Shopovation Limited. The directors have a material interest in this company.

Included within other debtors is an amount of £53,109 (2023: £26,373) owed from Portcullis Digital Limited. The directors have a material interest in this company.

Included within other debtors is an amount of £151,008 (2023: £150,710) owed from Excess Equity Homes Limited. The directors have a material interest in this company.

These amounts are unsecured, interest free and repayable on demand.

At the year-end date, included within creditors, amounts falling due within one year, the following amounts were owed to Mr L Rach: £64,172 (2023: £78,603); Mr C Rach: £14,055 (2023: £38,015); and Mr T S Ghai: £431 (2023: £25,225).

At the year-end date, included within creditors, amounts falling due after more than one year, the following amounts were owed to Mr L Rach: £172,500 (2023: £180,000); Mr C Rach: £172,500 (2023: £180,000); and Mr T S Ghai: £172,500 (2023: £180,000).

The amounts due to the Directors are subject to an interest charge of 4% per annum.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors Mr L Rach, Mr C Rach and Mr T S Ghai as between them they own all of the issued share capital.