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Registered number: 15219164 TWINWOODS JV LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 31 MARCH 2025
TWINWOODS JV LIMITED REGISTERED NUMBER: 15219164 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025
Note |  | £
FIXED ASSETS |  |  |
Investments | 4 |  | 1
|  |  | 1
CURRENT ASSETS |  |  |
Debtors: amounts falling due after more than one year | 5 | 22,468,499 |
Debtors: amounts falling due within one year | 5 | 3,626,970 |
|  | 26,095,469 |
Creditors: amounts falling due within one year | 6 | (3,692,957) |
NET CURRENT ASSETS |  |  | 22,402,512
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 22,402,513
Creditors: amounts falling due after more than one year | 7 |  | (22,468,498)
NET LIABILITIES |  |  | (65,985)
CAPITAL AND RESERVES |  |  |
Called up share capital | 8 |  | 2
Profit and loss account |  |  | (65,987)
|  |  | (65,985)
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
W H van Cutsem
Director
Date: 16 October 2025
The notes on pages 2 to 5 form part of these financial statements. Page 1
TWINWOODS JV LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
1. | GENERAL INFORMATION
Twinwoods JV Limited is a private company limited by shares and incorporated in England and Wales. Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA. The principal trading address is Linden Square, 146 Kings Road, Bury St Edmunds, Suffolk, IP33 3DJ. The Company's functional and presentational currency is GBP. 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | GOING CONCERN
The Company had net liabilities of £65,985 as at 31 March 2025. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from its shareholders to provide sufficient funds to enable it to meet its liabilities as they fall due.
| 2.3 | INTEREST INCOME
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | FINANCE COSTS
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | BORROWING COSTS
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
| 2.6 | VALUATION OF INVESTMENTS
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.7 | DEBTORS
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 2
TWINWOODS JV LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.8 | CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.9 | CREDITORS
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.10 | TAXATION
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. | EMPLOYEES
| The Company has no employees other than the directors, who did not receive any remuneration.
Page 3
TWINWOODS JV LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
4. | FIXED ASSET INVESTMENTS
|  | Investments in subsidiary companies
|  | £
| COST OR VALUATION |
| Additions | 1
| At 31 March 2025 | 1
5. | DEBTORS
|  |  |  |  | 2025
|  |  |  |  | £
| DUE AFTER MORE THAN ONE YEAR |
| Amounts owed by group undertakings | 22,468,499
|  | 22,468,499
| Amounts due from group undertakings comprise a loan to the subsidiary, secured against the investment property of that company. The loan is repayable by 31 October 2031. Interest is charged at 12% per annum and is payable on an annual basis.
|  |  |  |  | 2025
|  |  |  |  | £
| DUE WITHIN ONE YEAR |
| Prepayments and accrued income | 3,626,970
|  | 3,626,970
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 2025
|  |  |  |  | £
| Amounts owed to group undertakings | 450
| Corporation tax | 53,927
| Accruals and deferred income | 3,638,580
|  | 3,692,957
Page 4
TWINWOODS JV LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
|  |  |  |  | 2025
|  |  |  |  | £
| Other loans | 22,468,498
|  | 22,468,498
| Other loans comprise shareholder loans. Interest is charged at 12% per annum and is payable on an annual basis. The loans are repayable by 31 October 2031.
8. | SHARE CAPITAL
|  |  |  |  | 2025
|  |  |  |  | £
|  | ALLOTTED, CALLED UP AND FULLY PAID |
|  | 1 A Ordinary share of £1 | 1
|  | 1 B Ordinary share of £1 | 1
|  |  | 2
On incorporation, the Company issued 1 Ordinary share of £1 at par value. On 13 November 2023, the Company: - Redesignated the above share into 1 B Ordinary share of £1. - Allotted 1 A Ordinary share of £1 at par value.
9. | AUDITORS' INFORMATION
The auditors' report on the financial statements for the period ended 31 March 2025 was unqualified. The audit report was signed on 16 October 2025 by Edward Napper (Senior Statutory Auditor) on behalf of PEM Audit Limited.
Page 5