TIVEJOLEN LIMITED Filleted accounts for Companies House (small and micro)

TIVEJOLEN LIMITED Filleted accounts for Companies House (small and micro)

TIVEJOLEN LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02905758
TIVEJOLEN LIMITED
Filleted Unaudited Financial Statements
31 March 2019
TIVEJOLEN LIMITED
Statement of Financial Position
31 March 2019
2019
2018
Note
£
£
£
Fixed assets
Tangible assets
4
4,055,737
3,645,448
Investments
5
333,769
333,769
------------
------------
4,389,506
3,979,217
Current assets
Debtors
6
8,435
8,735
Cash at bank and in hand
143,911
222,827
---------
---------
152,346
231,562
Creditors: amounts falling due within one year
7
1,520,577
619,325
------------
---------
Net current liabilities
1,368,231
387,763
------------
------------
Total assets less current liabilities
3,021,275
3,591,454
Creditors: amounts falling due after more than one year
8
1,690,495
2,388,614
------------
------------
Net assets
1,330,780
1,202,840
------------
------------
TIVEJOLEN LIMITED
Statement of Financial Position (continued)
31 March 2019
2019
2018
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,330,680
1,202,740
------------
------------
Shareholders funds
1,330,780
1,202,840
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 December 2019 , and are signed on behalf of the board by:
Mr B Nanthabalan
Director
Company registration number: 02905758
TIVEJOLEN LIMITED
Notes to the Financial Statements
Year ended 31 March 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 22 Jeeva Mansions, Shacklewell Lane, London, N16 7RW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixturs and fittings
-
25% reducing balance
Freehold land and building - Depreciation not provided Leasehold land and building - Depreciation not provided
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
4. Tangible assets
Freehold property
Long leasehold property
Fixtures and fittings
Property development
Total
£
£
£
£
£
Cost
At 1 April 2018
2,558,674
562,780
18,649
521,692
3,661,795
Additions
–
223,950
–
186,915
410,865
------------
---------
--------
---------
------------
At 31 March 2019
2,558,674
786,730
18,649
708,607
4,072,660
------------
---------
--------
---------
------------
Depreciation
At 1 April 2018
–
–
16,347
–
16,347
Charge for the year
–
–
576
–
576
------------
---------
--------
---------
------------
At 31 March 2019
–
–
16,923
–
16,923
------------
---------
--------
---------
------------
Carrying amount
At 31 March 2019
2,558,674
786,730
1,726
708,607
4,055,737
------------
---------
--------
---------
------------
At 31 March 2018
2,558,674
562,780
2,302
521,692
3,645,448
------------
---------
--------
---------
------------
5. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1 April 2018 and 31 March 2019
81,162
252,607
333,769
--------
---------
---------
Impairment
At 1 April 2018 and 31 March 2019
–
–
–
--------
---------
---------
Carrying amount
At 31 March 2019
81,162
252,607
333,769
--------
---------
---------
At 31 March 2018
81,162
252,607
333,769
--------
---------
---------
6. Debtors
2019
2018
£
£
Other debtors
8,435
8,735
-------
-------
7. Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
103,400
100,927
Amounts owed to group undertakings and undertakings in which the company has a participating interest
859,309
109,309
Corporation tax
28,498
26,551
Other creditors
529,370
382,538
------------
---------
1,520,577
619,325
------------
---------
Bank loans of £103,400 (2018 - £100,927) are secured.
8. Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
1,690,495
2,388,614
------------
------------
Bank loans of £1,690,495 (2018 - £2,388,614) are secured.
9. Related party transactions
As a part of loan restructure, the company transferred a bank loan of £ 600,000 to its subsidiary Jolenevi Ltd .