Company registration number 13243801 (England and Wales)
TIVOLLI HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TIVOLLI HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
TIVOLLI HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
90
90
Current assets
Debtors
6
612,600
580,000
Investments
7
41,000
40,000
Cash at bank and in hand
1,218,006
602,473
1,871,606
1,222,473
Creditors: amounts falling due within one year
8
(183,266)
(90)
Net current assets
1,688,340
1,222,383
Net assets
1,688,430
1,222,473
Capital and reserves
Called up share capital
9
90
90
Profit and loss reserves
1,688,340
1,222,383
Total equity
1,688,430
1,222,473

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 29 February 2024 and are signed on its behalf by:
Mr J Marsland
Director
Company registration number 13243801 (England and Wales)
TIVOLLI HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Tivolli Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20-22 Wenlock Road, London, N1 7GU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

 

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

TIVOLLI HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
90
90
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Tivolli Limited
England
Ttrading
Ordinary
100.00
5
Financial instruments
2023
2022
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
41,000
40,000
TIVOLLI HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
-
0
80,000
Other debtors
612,600
500,000
612,600
580,000
7
Current asset investments
2023
2022
£
£
Other investments
41,000
40,000
8
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
177,000
-
0
Corporation tax
6,266
90
183,266
90
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
5
5
5
5
Ordinary B of £1 each
10
10
10
10
Ordinary C of £1 each
10
10
10
10
Ordinary D of £1 each
10
10
10
10
Ordinary E of £1 each
10
10
10
10
Ordinary F of £1 each
10
10
10
10
Ordinary G of £1 each
10
10
10
10
Ordinary H of £1 each
10
10
10
10
Ordinary I of £1 each
10
10
10
10
Ordinary J of £1 each
5
5
5
5
90
90
90
90
10
Directors' transactions

Dividends totalling £176,000 (2022 - £200,000) were paid in the year in respect of shares held by the company's directors.

11
Related party transactions
TIVOLLI HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11
Related party transactions
(Continued)
- 5 -

A loan exists of £177,000 (2022 : £80,000 due from) due to its subsidiary, this amount remains outstanding and is included in creditors (2022 : debtors) amounts falling due within one year.

 

A loan exists of £ £612,600 (2022 : £500,000) due form Culture Quarter Limited, a company which is partially owned by the directors. this amount is included in debtors: amounts falling due within one year.

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