REGISTERED NUMBER: |
Tribe Called West Ventures Ltd |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
REGISTERED NUMBER: |
Tribe Called West Ventures Ltd |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
Tribe Called West Ventures Ltd (Registered number: 13115797) |
Contents of the Financial Statements |
for the year ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Tribe Called West Ventures Ltd |
Company Information |
for the year ended 31 January 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
Tribe Called West Ventures Ltd (Registered number: 13115797) |
Balance Sheet |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 6 |
Redeemable preference shares | 7 |
Retained earnings | 7 |
Shareholders' funds |
The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Tribe Called West Ventures Ltd (Registered number: 13115797) |
Notes to the Financial Statements |
for the year ended 31 January 2024 |
1. | Statutory information |
Tribe Called West Ventures Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
The director has indicated that he will continue to provide financial support for the foreseeable future. Therefore the financial statements have been prepared on a going concern basis and they do not include any adjustments which may be necessary should the going concern basis of accounting no longer be appropriate. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial instruments |
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the Company's cash management. |
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
Investments |
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. |
Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. |
3. | Employees and directors |
The average number of employees during the year was |
Tribe Called West Ventures Ltd (Registered number: 13115797) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
4. | Fixed asset investments |
Other |
investments |
£ |
Cost or valuation |
At 1 February 2023 |
Additions |
Disposals | ( |
) |
Revaluations |
At 31 January 2024 |
Net book value |
At 31 January 2024 |
At 31 January 2023 |
Cost or valuation at 31 January 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2022 | 2,175,789 |
Valuation in 2023 | 23,904,942 |
Valuation in 2024 | 1,405,235 |
27,485,966 |
5. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
6. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 100 | 100 |
Ordinary B | £1 | 450 | 450 |
Ordinary C | £1 | 450 | 450 |
1,000 | 1,000 |
Tribe Called West Ventures Ltd (Registered number: 13115797) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
7. | Reserves |
Redeemable |
Retained | preference |
earnings | shares | Totals |
£ | £ | £ |
At 1 February 2023 | 23,866,892 |
Profit for the year | - |
At 31 January 2024 | 25,058,856 |
8. | Related party disclosures |
Included within other creditors is £3,371,688 (2023: £3,852,257) owed to the director. |