The Two Windies Limited 08799292 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is electricity generation via a wind turbine Digita Accounts Production Advanced 6.30.9574.0 true true 08799292 2024-01-01 2024-12-31 08799292 2024-12-31 08799292 core:CurrentFinancialInstruments 2024-12-31 08799292 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 08799292 core:FurnitureFittingsToolsEquipment 2024-12-31 08799292 bus:SmallEntities 2024-01-01 2024-12-31 08799292 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08799292 bus:FilletedAccounts 2024-01-01 2024-12-31 08799292 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08799292 bus:RegisteredOffice 2024-01-01 2024-12-31 08799292 bus:Director1 2024-01-01 2024-12-31 08799292 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08799292 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 08799292 core:PlantMachinery 2024-01-01 2024-12-31 08799292 core:OtherRelatedParties 2024-01-01 2024-12-31 08799292 countries:EnglandWales 2024-01-01 2024-12-31 08799292 core:FurnitureFittingsToolsEquipment 2023-12-31 08799292 2023-01-01 2023-12-31 08799292 2023-12-31 08799292 core:CurrentFinancialInstruments 2023-12-31 08799292 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08799292 core:FurnitureFittingsToolsEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 08799292

Prepared for the registrar

The Two Windies Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

The Two Windies Limited

(Registration number: 08799292)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

164,900

180,522

Current assets

 

Debtors

5

84,060

13,555

Cash at bank and in hand

 

152,683

204,381

 

236,743

217,936

Creditors: Amounts falling due within one year

6

(610,250)

(592,907)

Net current liabilities

 

(373,507)

(374,971)

Net liabilities

 

(208,607)

(194,449)

Capital and reserves

 

Called up share capital

20

20

Retained earnings

(208,627)

(194,469)

Shareholders' deficit

 

(208,607)

(194,449)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 April 2025 and signed on its behalf by:
 


T W Davies
Director

 

The Two Windies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

 

The Two Windies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Over 20 years straight line

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
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 profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

The Two Windies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

4

Tangible assets

Plant and machinery
£

Cost

At 1 January 2024 and 31 December 2024

312,450

Depreciation

At 1 January 2024

131,928

Charge for the year

15,622

At 31 December 2024

147,550

Carrying amount

At 31 December 2024

164,900

At 31 December 2023

180,522

 

5

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

8

7,000

7,000

Other debtors

 

71,765

3,375

Prepayments

 

5,295

3,180

 

84,060

13,555

 

The Two Windies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

4,325

26,083

Other creditors

 

413,916

377,166

Accrued expenses

 

191,478

189,443

Corporation tax liability

 

531

215

 

610,250

592,907

 

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

4,325

26,083

 

8

Related party transactions

Other transactions with directors

At 31 December 2024, the company owed the director T M Davies £4,325 (2023 - £4,013) in the form of a director's loan account. No interest is charged on the loan and it is repayable on demand.

As at 31 December 2024, the company was owed £68,583 by the director T W Davies (2023 - the company owed the director £22,070) in the form of a director's loan account. Interest is charged on the loan at 2.25% and it is repayable on demand.

Summary of transactions with other related parties

Penhadepella Limited
 At 31 December 2024, the company owed £413,916 (2023 - £377,166) to Penhadepella Limited. Of this balance, £40,416 is interest free and the loan is repayable on demand. T W Davies is a director of this company.

At 31 December 2024, the company was owed £7,000 (2023 - £7,000) from the sister of the directors. No interest is charged on this loan and it is repayable on demand.