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Registered Number: 09336181
England and Wales

 

 

 

TGLE HOLDINGS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 31 March 2023

End date: 30 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,251    2,241 
Investments 4 105    105 
1,356    2,346 
Current assets      
Debtors 625,986    684,369 
Cash at bank and in hand 1,407    470 
627,393    684,839 
Creditors: amount falling due within one year (839,636)   (800,035)
Net current assets (212,243)   (115,196)
 
Total assets less current liabilities (210,887)   (112,850)
Net assets (210,887)   (112,850)
 

Capital and reserves
     
Called up share capital 5 4,200    4,200 
Profit and loss account (215,087)   (117,050)
Shareholders' funds (210,887)   (112,850)
 


For the year ended 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 21 November 2024 and were signed on its behalf by:


-------------------------------
Ms Yas Larizadeh
Director
1
General Information
TGLE Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 09336181, registration address Flat 1, Old Ferry House, 5 Chelsea Embankment, London, United Kingdom, SW3 4LF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
These financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.


The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Going concern basis
At the time of approving the financial statements, the company made a loss of £98,037 (2023: Profit of £24,109). At the year-end, the company has net liabilities of £210,887 (2023: £112,850).

The effects of Covid-19 pandemic followed by contractionary monetary policies aimed at reigning in spiralling inflation have adversely impacted the hospitality sector resulting in a reduction of customer numbers which may have a significant impact on the company's operating results. The directors considers this is a key uncertainty over which they have no control.


The directors reviewed and assessed cash flow forecasts including sensitivity to trading and expenditure plans, and for the potential impact of uncertainties. It is difficult to estimate how long the impact will continue and when trading level will resume to normal level. Given the associated uncertainty within the forecast, the directors are aware of certain material uncertainties which may cast a doubt on the companys ability to continue as a going concern.

In order to address its financing requirements, the directors have put measures in place to manage the cash flows and thus the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The financial statements have been prepared on a going concern basis which assumes that the company will continue to meet its liabilities as they fall due.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.


When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings             25% on straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterm interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.


Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.


Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.

Average number of employees


Average number of employees during the year was 1 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 31 March 2023 6,574    6,574 
Additions  
Disposals  
At 30 March 2024 6,574    6,574 
Depreciation
At 31 March 2023 4,333    4,333 
Charge for year 990    990 
On disposals  
At 30 March 2024 5,323    5,323 
Net book values
Closing balance as at 30 March 2024 1,251    1,251 
Opening balance as at 31 March 2023 2,241    2,241 


4.

Investments

Cost Investments in group undertakings   Total
  £   £
At 31 March 2023 105    105 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 March 2024 105    105 

5.

Share Capital

Authorised
3,400 Class A shares of £1.00 each
800 Class B shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
3,400 Class A shares of £1.00 each 3,400    3,400 
800 Class B shares of £1.00 each 800    800 
4,200    4,200 

2