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Registered number: 14355986 (England and Wales)














TROVATA LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023


 
TROVATA LIMITED
 

 
COMPANY INFORMATION


Director
B P Turner 




Registered number
14355986



Registered office
Birchin Court
5th Floor

19-25 Birchin Lane

London

United Kingdom

EC3V 9DU




Independent auditor
ZEDRA Corporate Reporting Services (UK) Limited






 
TROVATA LIMITED
 


CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 3



 
TROVATA LIMITED
REGISTERED NUMBER:14355986


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 3 
903

Cash at bank and in hand
  
1,756

  
2,659

Creditors: amounts falling due within one year
 4 
(14,575)

Net current (liabilities)
  
 
 
(11,916)

Total assets less current liabilities
  
(11,916)

  

Net (liabilities)
  
(11,916)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(11,917)

  
(11,916)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

B P Turner
Director

Date: 13 August 2024

The notes on pages 2 to 3 form part of these financial statements.

Page 1


 
TROVATA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company was incorporated on 14 September 2022 and operations commenced on 08 February 2023. This is the first set of financial statements of the Company. 

The following principal accounting policies have been applied:

 
1.2

Going concern

The Company is in a net liability position of £11,916. The Company is reliant upon the continued support of the parent company, Trovata, Inc. in order to continue operating. As such, if this support was no longer available, the Company would not be able to continue. 
The Company has received written confirmation from its parent company that it will continue to provide support for a period of at least 12 months from the date of signing these financial statements. Furthermore, the director has assessed the ability of the parent company to provide the support based upon their forecasts and has concluded that the parent will have sufficient working capital to provide necessary support. For this reason, the director continues to adopt the going concern basis in preparing the financial statements. 

 
1.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

  
1.4

Debtors

Short term debtors are measured at transaction price.

 
1.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

Page 2


 
TROVATA LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

  
1.6

Creditors

Short term creditors are measured at the transaction price. Amounts owed to group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.


2.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 14 August 2024 by Nick Whitehead FCCA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.


3.


Debtors

2023
£


Prepayments
903

903



4.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
7,134

Accruals
7,441

14,575



5.


Controlling party

Trovata Inc. is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is 312 South Cedros Avenue, Suite 312, Solana Beach, CA 92075, USA. 


6.


Post balance sheet events

There were no adjusting or non-adjusting events occuring between the end of the reporting period and the date thse financial statements were approved.
 
Page 3