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

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COMPANY REGISTRATION NUMBER: 02905758

TIVEJOLEN LIMITED

Filleted Unaudited Financial Statements

31 March 2023

TIVEJOLEN LIMITED

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	4	4,055,737	4,056,313
Investments	5	81,162	383,769
		------------	------------
		4,136,899	4,440,082

Current assets

Debtors	6	429,601	14,574
Cash at bank and in hand		1,247,261	70,573
		------------	--------
		1,676,862	85,147

Creditors: amounts falling due within one year	7	1,382,223		1,471,205
		------------		------------
Net current assets/(liabilities)			294,639	( 1,386,058)
			------------	------------
Total assets less current liabilities			4,431,538	3,054,024

Creditors: amounts falling due after more than one year	8	2,827,882	1,286,869
		------------	------------
Net assets		1,603,656	1,767,155
		------------	------------

TIVEJOLEN LIMITED

Statement of Financial Position (continued)

31 March 2023

	2023		2022
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,603,556	1,767,055
	------------	------------
Shareholders funds	1,603,656	1,767,155
	------------	------------

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 Section 1A of 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 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 20 October 2023 , and are signed on behalf of the board by:

Mrs J Nanthabalan

Director

Company registration number: 02905758

TIVEJOLEN LIMITED

Notes to the Financial Statements

Year ended 31 March 2023

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. 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 stated net of discounts.

Income tax

The taxation expense represents the amount of current tax which is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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
Equipment	-	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.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Tangible assets

	Freehold property	Long leasehold property	Fixtures and fittings	Equipment	Property development	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2022	2,558,674	786,730	18,649	2,800	708,607	4,075,460
Additions	708,607	–	–	–	–	708,607
Disposals	–	–	–	–	( 708,607)	( 708,607)
	------------	---------	--------	-------	---------	------------
At 31 Mar 2023	3,267,281	786,730	18,649	2,800	–	4,075,460
	------------	---------	--------	-------	---------	------------
Depreciation
At 1 Apr 2022	–	–	17,922	1,225	–	19,147
Charge for the year	–	–	182	394	–	576
	------------	---------	--------	-------	---------	------------
At 31 Mar 2023	–	–	18,104	1,619	–	19,723
	------------	---------	--------	-------	---------	------------
Carrying amount
At 31 Mar 2023	3,267,281	786,730	545	1,181	–	4,055,737
	------------	---------	--------	-------	---------	------------
At 31 Mar 2022	2,558,674	786,730	727	1,575	708,607	4,056,313
	------------	---------	--------	-------	---------	------------

5. Investments

	Shares in group undertakings	Other investments other than loans	Total
	£	£	£
Cost
At 1 April 2022	81,162	302,607	383,769
Disposals	–	( 302,607)	( 302,607)
	--------	---------	---------
At 31 March 2023	81,162	–	81,162
	--------	---------	---------
Impairment
At 1 April 2022 and 31 March 2023	–	–	–
	--------	---------	---------

Carrying amount
At 31 March 2023	81,162	–	81,162
	--------	---------	---------
At 31 March 2022	81,162	302,607	383,769
	--------	---------	---------

Investments of £302,607 which were not recoverable had been written off.

6. Debtors

	2023	2022
	£	£
Other debtors	429,601	14,574
	---------	--------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	60,000	90,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest	889,309	889,309
Corporation tax	32,766	37,180
Other creditors	400,148	454,716
	------------	------------
	1,382,223	1,471,205
	------------	------------

Bank loans of £60,000 (2022 - £90,000) are secured by fixed and floating charges over company's assets.

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	2,827,882	1,286,869
	------------	------------

Bank loans of £2,827,882 (2022 - £1,286,869) are secured by fixed and floating charges over the company's assets.