2023-01-012023-12-312023-12-31true11419528TERRAVESTA HOLDINGS 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TERRAVESTA HOLDINGS LIMITED

Registered Number
11419528
(England and Wales)

Unaudited Dormant Financial Statements for the Year ended
31 December 2023

TERRAVESTA HOLDINGS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Mr H Bichan
Mr W Cracroft-Eley
Mr K G Hammer

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

11419528 (England and Wales)
TERRAVESTA HOLDINGS LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments3106,159106,159
106,159106,159
Current assets
Debtors43,000,0003,000,000
3,000,0003,000,000
Creditors amounts falling due within one year5(1,001,044)(1,001,044)
Net current assets (liabilities)1,998,9561,998,956
Total assets less current liabilities2,105,1152,105,115
Net assets2,105,1152,105,115
Capital and reserves
Called up share capital120,132120,132
Share premium1,984,9831,984,983
Shareholders' funds2,105,1152,105,115
The financial statements were approved and authorised for issue by the Board of Directors on 20 September 2024, and are signed on its behalf by:
Mr W Cracroft-Eley
Director
Registered Company No. 11419528
TERRAVESTA HOLDINGS 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. The company is exempt from the obligation to prepare and deliver group accounts.
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.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable. Business combinations Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
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.
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 year56
3.Fixed asset investments
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows: Terravesta IP Limited - 12 Tentercroft Street, Lincoln, LN5 7DB England - 100% voting rights and shares held in both 2023 and 2022 - The principal activity of Terravesta IP Limited is development of intellectual property. Physis Data Limited - 12 Tentercroft Street, Lincoln, LN5 7DB England and Wales - 100% voting rights and shares held in both 2023 and 2022 - The principal activity of Physis Data Limited is dormant company. Terravesta Europe sp. - Jozefa Pilsudskiego 104, 61-246 Poznan, Poland - Poland - 100% voting rights and shares held in both 2023 and 2022 - The principal activity of Terravesta Europe sp. is farming. Terravesta Limited - 12 Tentercroft Street, Lincoln, LN5 7DB England and Wales - 100% voting rights and shares held in both 2023 and 2022 - The principal activity of Terravesta Limited is holding company.

Investments in groups1

Total

££
Cost or valuation
At 01 January 23106,159106,159
At 31 December 23106,159106,159
Net book value
At 31 December 23106,159106,159
At 31 December 22106,159106,159

Notes

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

2023

2022

££
Amounts owed by group undertakings3,000,0003,000,000
Total3,000,0003,000,000
5.Creditors: amounts due within one year

2023

2022

££
Amounts owed to related parties1,0441,044
Other creditors1,000,0001,000,000
Total1,001,0441,001,044
6.Related party transactions
Summary of transactions with entities with joint control or significant interest Companies with a Director in common The other borrowing of £1,000,000 is owed to a company with a Director in common.