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REGISTERED NUMBER: 09080159 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TAILLEVENT PROPERTIES LIMITED

TAILLEVENT PROPERTIES LIMITED (REGISTERED NUMBER: 09080159)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TAILLEVENT PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTOR: L P N Gardinier



REGISTERED OFFICE: 16 Cavendish Square
Marylebone
London
W1G 9DD



REGISTERED NUMBER: 09080159 (England and Wales)



SENIOR STATUTORY AUDITOR: Robert Nissen F.C.A.



AUDITORS: Stein Richards
Chartered Accountants and Statutory Auditor
10 London Mews
Paddington
LONDON
W2 1HY

TAILLEVENT PROPERTIES LIMITED (REGISTERED NUMBER: 09080159)

STATEMENT OF FINANCIAL POSITION
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,458,576 1,642,050

CURRENT ASSETS
Debtors 5 258,023 263,276
Cash at bank 5,262 5,801
263,285 269,077
CREDITORS
Amounts falling due within one year 6 4,837,489 4,835,297
NET CURRENT LIABILITIES (4,574,204 ) (4,566,220 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,115,628

)

(2,924,170

)

PROVISIONS FOR LIABILITIES 329,628 329,628
NET LIABILITIES (3,445,256 ) (3,253,798 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 7 (3,446,256 ) (3,254,798 )
(3,445,256 ) (3,253,798 )

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 June 2024 and were signed by:





L P N Gardinier - Director


TAILLEVENT PROPERTIES LIMITED (REGISTERED NUMBER: 09080159)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Taillevent Properties 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.

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.

Going concern
The financial statements have been prepared on a going concern basis. Due to the financial position of the company, the validity of this basis is conditional upon the support of the ultimate parent company, Gardinier SAS, with such support having been obtained.

Should the company be unable to continue trading as a result of the withdrawal of support of the ultimate parent undertaking, adjustments would have to be made to reduce the value of assets to their recoverable amount and to provide for further liabilities which may arise.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Rentals income from operating leases is credited to the statement of income and retained earnings on a straight line basis over the term of the relevant lease.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative fo the time pattern over which the lessor's benefit from the leased asset is diminished.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

The estimated useful lives range as follows:
Leasehold and improvements: 7% straight line
Plant and machinery: 25% straight line
Fixtures and fittings: 25% straight line
Other fixed assets: 4% straight line

The assets' residual values, useful lives and depreciation method are reviewed, and adjusted prospectively if
appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

TAILLEVENT PROPERTIES LIMITED (REGISTERED NUMBER: 09080159)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

TAILLEVENT PROPERTIES LIMITED (REGISTERED NUMBER: 09080159)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Long Improvements Fixtures
leasehold to Plant and and
property property machinery fittings Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 61,490 2,933,013 42,067 71,555 3,108,125
DEPRECIATION
At 1 January 2023 18,075 1,334,378 42,067 71,555 1,466,075
Charge for year 2,460 181,014 - - 183,474
At 31 December 2023 20,535 1,515,392 42,067 71,555 1,649,549
NET BOOK VALUE
At 31 December 2023 40,955 1,417,621 - - 1,458,576
At 31 December 2022 43,415 1,598,635 - - 1,642,050

5. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Other debtors 70,523 75,776

Amounts falling due after more than one year:
Other debtors 187,500 187,500

Aggregate amounts 258,023 263,276

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 62,566 77,382
Amounts owed to group undertakings 4,607,670 4,607,670
Taxation and social security 23,658 -
Other creditors 143,595 150,245
4,837,489 4,835,297

TAILLEVENT PROPERTIES LIMITED (REGISTERED NUMBER: 09080159)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. RESERVES
Retained
earnings
£   

At 1 January 2023 (3,254,798 )
Deficit for the year (191,458 )
At 31 December 2023 (3,446,256 )

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

The Report of the Auditors was unqualified.

Robert Nissen F.C.A. (Senior Statutory Auditor)
for and on behalf of Stein Richards

9. COMMITMENTS UNDER OPERATING LEASES

Operating lease commitments not included in the balance sheet amounted to £5,915,000 (2022: £6,205,000)
The company has entered into a sublease agreement over the same term, with a fellow subsidiary, and has minimum lease receivable as above.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Gardinier SAS (incorporated in France). The registered office address is 7 rue Lamennais, 75008, Paris, France.

The smallest and largest group in which the results of the company are consolidated is that headed by Gardinier SAS. The consolidated financial statements of this group are available to the public and may be obtained from the registered office.