| Twinwall Limited |
| Notes to the Accounts |
| for the year ended 31 July 2025 |
|
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental of properties and from the rendering of related services. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold buildings |
over 50 years |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
over 5 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
3 |
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| 3 |
Tangible fixed assets |
|
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Land and buildings |
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Building improvm'ts |
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Motor vehicles |
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Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 August 2024 |
375,570 |
|
31,539 |
|
10,200 |
|
417,309 |
|
At 31 July 2025 |
375,570 |
|
31,539 |
|
10,200 |
|
417,309 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2024 |
193,815 |
|
29,059 |
|
10,200 |
|
233,074 |
|
Charge for the year |
7,512 |
|
1,143 |
|
- |
|
8,655 |
|
At 31 July 2025 |
201,327 |
|
30,202 |
|
10,200 |
|
241,729 |
|
|
|
|
|
|
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Net book value |
|
At 31 July 2025 |
174,243 |
|
1,337 |
|
- |
|
175,580 |
|
At 31 July 2024 |
181,755 |
|
2,480 |
|
- |
|
184,235 |
|
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Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
325,521 |
|
325,521 |
|
Cumulative depreciation based on historical cost |
188,802 |
|
182,292 |
|
|
|
|
|
|
136,719 |
|
143,229 |
|
In 1997 land and buildings at Eton Hill Works costing £325,521 were revalued at £435,000. A revaluation reserve was created. An amount representing the excess depreciation charged is transferred each year from the revaluation reserve to the profit and loss account. |
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| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
1,755 |
|
5,684 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
131,072 |
|
207,594 |
|
Other debtors |
78 |
|
1,010 |
|
|
|
|
|
|
132,905 |
|
214,288 |
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| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
1,452 |
|
1,337 |
|
Taxation and social security costs |
(1,708) |
|
(88) |
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Other creditors |
19,985 |
|
4,789 |
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|
19,729 |
|
6,038 |
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| 6 |
Revaluation reserve |
2025 |
|
2024 |
| £ |
£ |
|
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At 1 August 2024 |
101,312 |
|
102,313 |
|
Transfer to profit and loss account |
(1,001) |
|
(1,001) |
|
|
At 31 July 2025 |
100,311 |
|
101,312 |
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| 7 |
Related party transactions |
2025 |
|
2024 |
| £ |
£ |
|
McKenzie Martin Limited |
|
G M Waite is a common director |
|
Rental income received |
|
|
|
|
80,000 |
|
80,000 |
|
Amount due from the above company |
20,000 |
|
33,000 |
|
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McKenzie Martin (Holdings) Limited |
|
G M Waite is a common director |
|
Amount due from the above company |
- |
|
2,918 |
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Ulpha Investments Limited |
|
G M Waite is a common director |
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Dividend income paid |
|
|
|
|
- |
|
(374,346) |
|
Management fee raised |
|
|
|
|
60,000 |
|
60,000 |
|
Amount due from the above company |
111,072 |
|
171,676 |
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| 8 |
Controlling party |
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The ultimate holding company is Ulpha Investments Group Limited (10856522) a company incorporated in Great Britain, whose registered office is as set out in the note below. |
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| 9 |
Other information |
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Twinwall Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Eton Hill Works |
|
Radcliffe |
|
Manchester M26 2US |