2023-01-012023-12-312023-12-31false13859328Troviq Private Markets Group 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Troviq Private Markets Group Ltd

(formerly TRUFFLE PRIVATE MARKETS GROUP LTD)

Registered Number
13859328
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Troviq Private Markets Group Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

AFINK, Jeroen Gerrit Jan
BOHILL, John
PROCTOR, Jason William Horatio

Registered Address

7-9 Henrietta Street
London
WC2E 8PS

Registered Number

13859328 (England and Wales)
Troviq Private Markets Group Ltd
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3291,396-
Investments41,680,02525
1,971,42125
Current assets
Debtors5111,441829,607
Cash at bank and on hand50,549159,843
161,990989,450
Creditors amounts falling due within one year6(26,192)(213,162)
Net current assets (liabilities)135,798776,288
Total assets less current liabilities2,107,219776,313
Creditors amounts falling due after one year7(2,795,169)(1,142,686)
Net assets(687,950)(366,373)
Capital and reserves
Called up share capital2827
Share premium313,82498
Profit and loss account(1,001,802)(366,498)
Shareholders' funds(687,950)(366,373)
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. 13859328
Troviq Private Markets Group 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.
Going concern
The Company has access to a Convertible Loan Facility of €3.8m (as at the balance sheet date), of which €2.7m had been drawn (as of the balance sheet date). During the period from the balance sheet date to the date of approval of the financial statements, the Company further increased this facility to €4.3m, which had been fully drawn as of the date of approval of the financial statements. The Company has also added a second facility of €415k (which remains fully undrawn as of the date of approval of the financial statements) and expects to further expand this facility prior to year-end 2024. 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 from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
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 year00
3.Intangible assets

Other

Total

££
Cost or valuation
Additions291,396291,396
At 31 December 23291,396291,396
Net book value
At 31 December 23291,396291,396
At 31 December 22--
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 January 232525
Additions1,680,0001,680,000
At 31 December 231,680,0251,680,025
Net book value
At 31 December 231,680,0251,680,025
At 31 December 222525

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2023

2022

££
Amounts owed by group undertakings5,088775,596
Other debtors17,407-
Prepayments and accrued income88,94654,011
Total111,441829,607
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables26,1927,794
Amounts owed to related parties-198,888
Accrued liabilities and deferred income-6,480
Total26,192213,162
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

££
Convertible loans2,795,1691,142,686
Total2,795,1691,142,686