REGISTERED NUMBER: 04016798 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Twinvest Limited

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

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

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

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 2024 to the date of this report.

RESULTS

The Company's loss for the year amounted to GBP 814.

POST BALANCE SHEET EVENTS

No post balance sheet events have occurred since 31 December 2024 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

25 September 2025

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 2024 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 loss 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

25 September 2025

TURNOVER

-

-

Administrative expenses

1,126

1,107

OPERATING LOSS

(1,126

)

(1,107

)

Interest receivable and similar income

312

3,994

(LOSS)/PROFIT BEFORE TAXATION

(814

)

2,887

Tax on (loss)/profit

3

-

-

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(814

)

2,887

FIXED ASSETS

Investments

4

232,728

233,370

CREDITORS

Amounts falling due within one year

5

10,814

10,000

NET CURRENT LIABILITIES

(10,814

)

(10,000

)

TOTAL ASSETS LESS CURRENT LIABILITIES

221,914

223,370

CAPITAL AND RESERVES

Called up share capital

6

100

100

Revaluation reserve

7

207,111

207,753

Retained earnings

7

14,703

15,517

SHAREHOLDERS' FUNDS

221,914

223,370

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 25 September 2025 and were signed by:

P Groenbaek - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

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

Changes in equity

Total comprehensive income

-

(814

)

(642

)

(1,456

)

Balance at 31 December 2024

100

14,703

207,111

221,914

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 2024 nor for the year ended 31 December 2023.

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 January 2024

233,370

Revaluations

(642

)

At 31 December 2024

232,728

NET BOOK VALUE

At 31 December 2024

232,728

At 31 December 2023

233,370

Cost or valuation at 31 December 2024 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

)

Valuation in 2024

(642

)

Cost

25,617

232,728

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

31.12.24

31.12.23

£

£

Aggregate capital and reserves

232,728

233,370

Profit/(loss) for the year

4,379

(5,253

)

The Company has invested GBP 13,271.

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

2024

2023

£

£

Current account associated

company

7,740

6,926

Other creditors

2,414

2,414

Accruals and deferred income

660

660

10,814

10,000

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

1

100

100

7.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 January 2024

15,517

207,753

223,270

Deficit for the year

(814

)

(814

)

Revaluation for the year

-

(642

)

(642

)

At 31 December 2024

14,703

207,111

221,814

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.