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REGISTERED NUMBER: 09028688 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TAILLEVENT UK LIMITED

TAILLEVENT UK LIMITED (REGISTERED NUMBER: 09028688)






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 UK 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: 09028688 (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 UK LIMITED (REGISTERED NUMBER: 09028688)

STATEMENT OF FINANCIAL POSITION
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 52,000 52,000

CURRENT ASSETS
Debtors 5 - 17,901
Cash at bank 1,351 7,667
1,351 25,568
CREDITORS
Amounts falling due within one year 6 8,492,458 10,613,719
NET CURRENT LIABILITIES (8,491,107 ) (10,588,151 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,439,107

)

(10,536,151

)

CAPITAL AND RESERVES
Called up share capital 7 2,614,700 1,000
Retained earnings (11,053,807 ) (10,537,151 )
SHAREHOLDERS' FUNDS (8,439,107 ) (10,536,151 )

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 UK LIMITED (REGISTERED NUMBER: 09028688)

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

1. STATUTORY INFORMATION

Taillevent UK 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.

Preparation of consolidated financial statements
The financial statements contain information about Taillevent UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services
Revenue represents expenses rechargeable and are recognised on an accruals basis.

Investments in subsidiaries
Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

TAILLEVENT UK LIMITED (REGISTERED NUMBER: 09028688)

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.

Foreign currencies
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.

Interest payable and similar expenses
Interest payable and similar expenses are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3. EMPLOYEES AND DIRECTORS

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

TAILLEVENT UK LIMITED (REGISTERED NUMBER: 09028688)

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

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 2,000 50,000 52,000
NET BOOK VALUE
At 31 December 2023 2,000 50,000 52,000
At 31 December 2022 2,000 50,000 52,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors - 17,901

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors - 2,376
Amounts owed to group undertakings 8,476,611 10,608,343
Taxation and social security 11,647 -
Other creditors 4,200 3,000
8,492,458 10,613,719

Amounts owed to the parent company are unsecured, payable on demand and attracts an interest of 2% per annum.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
261,470 Ordinary £10 2,614,700 1,000

261,370 Ordinary shares of £10 each were allotted and fully paid for cash at par during the year.

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. OTHER FINANCIAL COMMITMENTS

The company has given a second guarantee against the lease commitments of its subsidiary company totalling £5,915,000.(2022: £6,205,000).

TAILLEVENT UK LIMITED (REGISTERED NUMBER: 09028688)

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

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.