2023-01-012023-12-312023-12-31false08079280Terravesta Management Limited2024-09-20iso4217:GBPxbrli:pure080792802023-01-01080792802023-12-31080792802023-01-012023-12-31080792802022-01-01080792802022-12-31080792802022-01-012022-12-3108079280bus:SmallEntities2023-01-012023-12-3108079280bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3108079280bus:FullAccounts2023-01-012023-12-3108079280bus:PrivateLimitedCompanyLtd2023-01-012023-12-3108079280core:WithinOneYear2023-12-3108079280core:AfterOneYear2023-12-3108079280core:WithinOneYear2022-12-3108079280core:AfterOneYear2022-12-3108079280core:ShareCapital2023-12-3108079280core:SharePremium2023-12-3108079280core:RevaluationReserve2023-12-3108079280core:OtherReservesSubtotal2023-12-3108079280core:RetainedEarningsAccumulatedLosses2023-12-3108079280core:ShareCapital2022-12-3108079280core:SharePremium2022-12-3108079280core:RevaluationReserve2022-12-3108079280core:OtherReservesSubtotal2022-12-3108079280core:RetainedEarningsAccumulatedLosses2022-12-3108079280core:LandBuildings2023-12-3108079280core:PlantMachinery2023-12-3108079280core:Vehicles2023-12-3108079280core:FurnitureFittings2023-12-3108079280core:OfficeEquipment2023-12-3108079280core:NetGoodwill2023-12-3108079280core:IntangibleAssetsOtherThanGoodwill2023-12-3108079280core:ListedExchangeTraded2023-12-3108079280core:UnlistedNon-exchangeTraded2023-12-3108079280core:LandBuildings2022-12-3108079280core:PlantMachinery2022-12-3108079280core:Vehicles2022-12-3108079280core:FurnitureFittings2022-12-3108079280core:OfficeEquipment2022-12-3108079280core:NetGoodwill2022-12-3108079280core:IntangibleAssetsOtherThanGoodwill2022-12-3108079280core:ListedExchangeTraded2022-12-3108079280core:UnlistedNon-exchangeTraded2022-12-3108079280core:LandBuildings2023-01-012023-12-3108079280core:PlantMachinery2023-01-012023-12-3108079280core:Vehicles2023-01-012023-12-3108079280core:FurnitureFittings2023-01-012023-12-3108079280core:OfficeEquipment2023-01-012023-12-3108079280core:NetGoodwill2023-01-012023-12-3108079280core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3108079280core:ListedExchangeTraded2023-01-012023-12-3108079280core:UnlistedNon-exchangeTraded2023-01-012023-12-3108079280core:MoreThanFiveYears2023-01-012023-12-3108079280core:Non-currentFinancialInstruments2023-12-3108079280core:Non-currentFinancialInstruments2022-12-3108079280dpl:CostSales2023-01-012023-12-3108079280dpl:DistributionCosts2023-01-012023-12-3108079280core:LandBuildings2023-01-012023-12-3108079280core:PlantMachinery2023-01-012023-12-3108079280core:Vehicles2023-01-012023-12-3108079280core:FurnitureFittings2023-01-012023-12-3108079280core:OfficeEquipment2023-01-012023-12-3108079280dpl:AdministrativeExpenses2023-01-012023-12-3108079280core:NetGoodwill2023-01-012023-12-3108079280core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3108079280dpl:GroupUndertakings2023-01-012023-12-3108079280dpl:ParticipatingInterests2023-01-012023-12-3108079280dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3108079280core:ListedExchangeTraded2023-01-012023-12-3108079280dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3108079280core:UnlistedNon-exchangeTraded2023-01-012023-12-3108079280dpl:CostSales2022-01-012022-12-3108079280dpl:DistributionCosts2022-01-012022-12-3108079280core:LandBuildings2022-01-012022-12-3108079280core:PlantMachinery2022-01-012022-12-3108079280core:Vehicles2022-01-012022-12-3108079280core:FurnitureFittings2022-01-012022-12-3108079280core:OfficeEquipment2022-01-012022-12-3108079280dpl:AdministrativeExpenses2022-01-012022-12-3108079280core:NetGoodwill2022-01-012022-12-3108079280core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3108079280dpl:GroupUndertakings2022-01-012022-12-3108079280dpl:ParticipatingInterests2022-01-012022-12-3108079280dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3108079280core:ListedExchangeTraded2022-01-012022-12-3108079280dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3108079280core:UnlistedNon-exchangeTraded2022-01-012022-12-3108079280core:NetGoodwill2023-12-3108079280core:IntangibleAssetsOtherThanGoodwill2023-12-3108079280core:LandBuildings2023-12-3108079280core:PlantMachinery2023-12-3108079280core:Vehicles2023-12-3108079280core:FurnitureFittings2023-12-3108079280core:OfficeEquipment2023-12-3108079280core:AfterOneYear2023-12-3108079280core:WithinOneYear2023-12-3108079280core:ListedExchangeTraded2023-12-3108079280core:UnlistedNon-exchangeTraded2023-12-3108079280core:ShareCapital2023-12-3108079280core:SharePremium2023-12-3108079280core:RevaluationReserve2023-12-3108079280core:OtherReservesSubtotal2023-12-3108079280core:RetainedEarningsAccumulatedLosses2023-12-3108079280core:NetGoodwill2022-12-3108079280core:IntangibleAssetsOtherThanGoodwill2022-12-3108079280core:LandBuildings2022-12-3108079280core:PlantMachinery2022-12-3108079280core:Vehicles2022-12-3108079280core:FurnitureFittings2022-12-3108079280core:OfficeEquipment2022-12-3108079280core:AfterOneYear2022-12-3108079280core:WithinOneYear2022-12-3108079280core:ListedExch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Terravesta Management Limited

Registered Number
08079280
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Terravesta Management Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Mr W Cracroft-Eley

Company Secretary

Mr R J Eke

Registered Address

12 Tentercroft Street
Lincoln
LN5 7DB

Place of Business

Unit 4 Riverside Enterprise Park

Saxilby

Lincoln

LN1 5AB


Registered Number

08079280 (England and Wales)
Terravesta Management Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets33,0535,402
3,0535,402
Current assets
Debtors45,895,2855,116,337
Cash at bank and on hand41,48836,678
5,936,7735,153,015
Creditors amounts falling due within one year5(6,639,948)(5,530,965)
Net current assets (liabilities)(703,175)(377,950)
Total assets less current liabilities(700,122)(372,548)
Creditors amounts falling due after one year6(21,667)(31,667)
Net assets(721,789)(404,215)
Capital and reserves
Called up share capital100100
Profit and loss account(721,889)(404,315)
Shareholders' funds(721,789)(404,215)
The financial statements were approved and authorised for issue by the Director on 20 September 2024, and are signed on its behalf by:
Mr W Cracroft-Eley
Director
Registered Company No. 08079280
Terravesta Management Limited
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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue from sale of goods
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Operating leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Borrowing costs
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Foreign currency translation
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Current taxation
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible fixed assets and depreciation
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Straight line (years)
Fixtures and fittings3.33
Vehicles3.33
Trade and other debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value
Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.Average number of employees

20232022
Average number of employees during the year1212
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 2316,1798,33359,54684,058
At 31 December 2316,1798,33359,54684,058
Depreciation and impairment
At 01 January 2314,6968,33355,62778,656
Charge for year921-1,4282,349
At 31 December 2315,6178,33357,05581,005
Net book value
At 31 December 23562-2,4913,053
At 31 December 221,483-3,9195,402
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables43,00030,000
Amounts owed by group undertakings5,012,7374,818,626
Other debtors767,710267,710
Prepayments and accrued income71,8381
Total5,895,2855,116,337
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables50,228-
Bank borrowings and overdrafts2,460,0001,410,000
Amounts owed to related parties3,622,8153,673,201
Taxation and social security43,07452,721
Other creditors434,556366,344
Accrued liabilities and deferred income29,27528,699
Total6,639,9485,530,965
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts21,66731,667
Total21,66731,667
7.Related party transactions
Summary of transactions with parent Parent company At the year end an amount of £386,950 (2022 - £386,950) was owed to the parent company. Summary of transactions with other related parties Group Companies Income of £722,470 (2022 - £490,000) was received from group companies. At the year end £5,012,737 (2022 - £4,818,626) was owed by group companies and £3,622,815 (2022 - £3,673,201) was owed to group companies.
8.Controlling party
The ultimate controlling party is the directors.
9.Parent-subsidiary relationships
The company's immediate parent is Terravesta Limited, incorporated in England. The ultimate parent is Terravesta Holdings Limited, incorporated in England.