2023-01-012023-12-312023-12-31false11276896Troviq UK 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Troviq UK Ltd

(formerly TRUFFLE INVEST LTD)

Registered Number
11276896
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Troviq UK Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

BOHILL, John
PROCTOR, Jason William Horatio

Registered Address

7-9 Henrietta Street
London
WC2E 8PS

Registered Number

11276896 (England and Wales)
Troviq UK Ltd
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Called up share capital not paid1212
Fixed assets
Tangible assets32,3874,342
Investments452,01739,811
54,40444,153
Current assets
Debtors562,633487,989
Cash at bank and on hand52,35531,092
114,988519,081
Creditors amounts falling due within one year6(110,227)(854,936)
Net current assets (liabilities)4,773(335,843)
Total assets less current liabilities59,177(291,690)
Creditors amounts falling due after one year7-(197,499)
Net assets59,177(489,189)
Capital and reserves
Called up share capital2525
Share premium289,472289,472
Other reserves130,000-
Profit and loss account(360,320)(778,686)
Shareholders' funds59,177(489,189)
The financial statements were approved and authorised for issue by the Board of Directors on 25 September 2024, and are signed on its behalf by:
PROCTOR, Jason William Horatio
Director
Registered Company No. 11276896
Troviq UK Ltd
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The Company has the support and access to financial resources of its ultimate UK parent. This ready access to financial resources, is sufficient for the Company to meet its obligations for a period of 12 months from the date of approval of the financial statements. Having considered these matters and after making appropriate enquiries, the Directors are satisfied that there are no material uncertainties to the Company’s ability to adopt the going concern basis of accounting and that the Company has adequate resources to continue to operate as a going concern for a period of 12 months from date of approval of the financial statements. For this reason, they consider it appropriate to continue to adopt the going concern basis in preparing the financial statements.
Revenue from sale of goods
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the company and value added taxes. Fees consist of management fees and upfront fees. Upfront fees are recognised by reference to the stage of completion at the end of the reporting period. Management fees are recognised on straight line basis over the specified period.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20232022
Average number of employees during the year64
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 235,8645,864
At 31 December 235,8645,864
Depreciation and impairment
At 01 January 231,5221,522
Charge for year1,9551,955
At 31 December 233,4773,477
Net book value
At 31 December 232,3872,387
At 31 December 224,3424,342
4.Fixed asset investments

Investments in groups1

Other investments2

Total

£££
Cost or valuation
At 01 January 23139,81039,811
Additions-13,48613,486
Revaluations-(543)(543)
Disposals(1)-(1)
Transfers-(736)(736)
At 31 December 23-52,01752,017
Net book value
At 31 December 23-52,01752,017
At 31 December 22139,81039,811

Notes

1Investments in group undertakings and participating interests
2Other investments other than loans
5.Debtors: amounts due within one year

2023

2022

££
Amounts owed by group undertakings1,206460,982
Other debtors8,0068,006
Prepayments and accrued income53,42119,001
Total62,633487,989
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables2,91014,306
Amounts owed to related parties4,854775,597
Taxation and social security25,38823,833
Other creditors4,4504,422
Accrued liabilities and deferred income72,62536,778
Total110,227854,936
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2023

2022

££
Other creditors-197,499
Total-197,499
8.Prior period policy changes
The reporting date changed in 2022 from March to December so the comparaives shown for the prior period are for a 9 months ending 31 December 2022 compared with the current year ending 31 December 2023.