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REGISTERED NUMBER: 13632178 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

TAO VENTURES LIMITED

TAO VENTURES LIMITED (REGISTERED NUMBER: 13632178)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TAO VENTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







Director: Mr J D Sy, Jr



Secretary: Vistra Cosec Limited



Registered office: Suite 1, 7th Floor
50 Broadway London
London
SW1H 0BL



Registered number: 13632178 (England and Wales)



Senior statutory auditor: Simon Roper



Auditors: Fuller & Roper Limited
Chartered Accountants and Statutory Auditors
12 Old Mills Industrial Estate
Paulton
BS39 7SU

TAO VENTURES LIMITED (REGISTERED NUMBER: 13632178)

BALANCE SHEET
31 DECEMBER 2022

31/12/22 31/12/21
Notes $    $   
FIXED ASSETS
Investments 4 2,200,237 2,200,237

CURRENT ASSETS
Cash in hand 100 100

CREDITORS
Amounts falling due within one year 5 (2,252,053 ) (2,219,382 )
NET CURRENT LIABILITIES (2,251,953 ) (2,219,282 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(51,716

)

(19,045

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (51,816 ) (19,145 )
SHAREHOLDERS' FUNDS (51,716 ) (19,045 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 February 2024 and were signed by:





Mr J D Sy, Jr - Director


TAO VENTURES LIMITED (REGISTERED NUMBER: 13632178)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Tao Ventures Limited is a private company, limited by shares, registered in England and Wales.The company's registered number and registered office address can be found on the Company Information page.

The Company’s functional and presentational currency is US Dollars (USD) and the financial statements have been rounded to the nearest dollar ($).

2. 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments
Other investments are measured at cost less impairment.

Going concern
At the balance sheet date the company had net current liabilities. The directors consider it appropriate to prepare the financial statements using the going concern basis as the parent company will continue to provide support to ensure that the company can to continue to meet its obligations.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

TAO VENTURES LIMITED (REGISTERED NUMBER: 13632178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. FIXED ASSET INVESTMENTS


Particulars

Other
Investments
$

Cost 2,200,237
Additions -
Disposals -
At December 2022 2,200,237

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
$    $   
Amounts owed to participating interests 2,241,994 2,211,748
Other creditors 10,059 7,634
2,252,053 2,219,382

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Simon Roper (Senior Statutory Auditor)
Fuller & Roper Limited Fuller & Roper Limited

7. ULTIMATE PARENT COMPANY

The immediate and ultimate controlling party is Tao Corporation which is incorporated in the Philippines with the registered address of TAO Corporate Centre, 90 PE Antonio Street, Brgy, Ugong, Pasig City, 1604.