Company registration number 05261672 (England and Wales)
MINTTWIST LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MINTTWIST LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
MINTTWIST LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
6
1,681,352
1,757,075
Cash at bank and in hand
-
0
143,793
1,681,352
1,900,868
Creditors: amounts falling due within one year
7
(938,777)
(1,050,389)
Net current assets
742,575
850,479
Creditors: amounts falling due after more than one year
8
-
0
(25,398)
Net assets
742,575
825,081
Capital and reserves
Called up share capital
1,000
1,000
Share premium account
8,991
8,991
Profit and loss reserves
732,584
815,090
Total equity
742,575
825,081

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 12 June 2025 and are signed on its behalf by:
Mr P Finn
Director
Company registration number 05261672 (England and Wales)
MINTTWIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

MintTwist Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor Bentima House, 168-172 Old Street, London, EC1V 9BP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

During the year, the company’s clients and employees were transferred to its parent company, Finn Partners Limited. Within the 12 months following the date of approval of these financial statements, the directors intend to hive up the company’s assets and liabilities to its parent company, Finn Partners Limited. Once the hive up has been completed, the directors intend to strike off the company from the Registrar of Companies. As such, these financial statements have been prepared on a non-going concern basis.true

1.3
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

 

Rendering of services

 

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

 

 

 

 

Revenue from contracts for the provision of professional services is recognised evenly over the period of the contract as it is invoiced. Revenue for events and projects is recognised when it is invoiced.

MINTTWIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33.33% on cost

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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.

Debtors

Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Creditors

Creditors are not interest bearing and are included at their nominal value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

MINTTWIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Foreign exchange

Functional and presentation currency

 

The company's functional and presentational currency is GBP.

 

Transactions and balances

 

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

 

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of income and retained earnings except when deferred in other comprehensive income as qualifying cash flow hedges.

 

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the statement of income and retained earnings within 'other operating income'.

1.13

Interest expense

Interest expenses are recognised in the Statement of income and retained earnings using the effective interest method.

2
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 amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

MINTTWIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
28

During the year, the company's employees were transferred to its parent company, Finn Partners Limited.

4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
99,015
Amortisation and impairment
At 1 January 2024 and 31 December 2024
99,015
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
5
Tangible fixed assets
Computers
£
Cost
At 1 January 2024
43,944
Disposals
(43,944)
At 31 December 2024
-
0
Depreciation and impairment
At 1 January 2024
43,944
Eliminated in respect of disposals
(43,944)
At 31 December 2024
-
0
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
MINTTWIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
76,328
662,842
Amounts owed by group undertakings
1,518,422
972,741
Other debtors
86,602
121,492
1,681,352
1,757,075
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
17,365
21,910
Trade creditors
-
0
311,059
Amounts owed to group undertakings
898,916
201,056
Taxation and social security
-
0
103,382
Other creditors
22,496
412,982
938,777
1,050,389
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
25,398
9
Loans and overdrafts
2024
2023
£
£
Bank loans
17,365
47,308
Payable within one year
17,365
21,910
Payable after one year
-
0
25,398

Included within bank loans is a Bounce Back loan. This loan carries a fixed rate of interest of 2.5% and is repayable by August 2026.

 

MINTTWIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter - financial statements prepared on a basis other than going concern

We draw attention to Note 1.2 to the financial statements which explains that the company’s clients and employees were transferred to its parent company, Finn Partners Limited, during the year. Within the 12 months following the date of approval of these financial statements, the directors intend to hive up the company’s assets and liabilities to its parent company, Finn Partners Limited. Once the hive up has been completed, the directors intend to strike off the company from the Registrar of Companies. As such, these financial statements have been prepared on a non-going concern basis, as described in Note 1.2. Our opinion is not modified in respect of this matter.

Senior Statutory Auditor:
David Forinton
Statutory Auditor:
Kirk Rice LLP
Date of audit report:
13 June 2025
11
Related party transactions

During the year, a company in which a close family member of one of the directors is a director provided consultancy services to MintTwist Limited. The total amount paid to the connected company for these services was £nil (2023: £15,600).

 

During the year, a close family member of one of the directors provided consultancy services to MintTwist Limited. The total amount paid to the close family member for these services was £11,210 (2023: £1,625).

12
Ultimate controlling party

At 31 December 2024, the company's immediate parent undertaking was Finn Partners Limited, a company registered in England and Wales.

 

The company's ultimate parent undertaking is Finn Partners Inc., a company incorporated in the United States of America. The company is controlled by P Finn.

 

The smallest group undertaking for which consolidated financial statements are prepared, which include the company, is Finn Partners Holdings Limited. Its registered office is 1st Floor, Bentima House, 168-172 Old Street, London, United Kingdom, EC1V 9BP.

 

The largest group undertaking for which consolidated financial statements are prepared, which include the company, is Finn Partners Inc. Its registered office is 301 East 57th Street, New York, NY 10022.

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