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Registration number: 12915321

Tenderstories Limited (formerly Tendercapital Productions LTD)

Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Tenderstories Limited (formerly Tendercapital Productions LTD)

Contents

Abridged Profit and Loss Account

1

Abridged Balance Sheet

2

Notes to the Abridged Financial Statements

3 to 8

 

Tenderstories Limited (formerly Tendercapital Productions LTD)

Abridged Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Gross profit

 

349,710

598,500

Administrative expenses

 

(1,198,128)

(430,958)

(Loss)/profit before tax

(848,418)

167,542

(Loss)/profit for the financial year

 

(848,418)

167,542

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Tenderstories Limited (formerly Tendercapital Productions LTD)

(Registration number: 12915321)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Intangible assets

5

837,550

732,195

Investments

6

1,347,477

1,321,677

 

2,185,027

2,053,872

Current assets

 

Debtors

86,699

741

Cash at bank and in hand

 

116,693

1,048,780

 

203,392

1,049,521

Prepayments and accrued income

 

86,586

86,868

Creditors: Amounts falling due within one year

(3,307,975)

(3,180,813)

Net current liabilities

 

(3,017,997)

(2,044,424)

Total assets less current liabilities

 

(832,970)

9,448

Accruals and deferred income

 

(8,000)

(2,000)

Net (liabilities)/assets

 

(840,970)

7,448

Capital and reserves

 

Called up share capital

7

200,000

200,000

Retained earnings

(1,040,970)

(192,552)

Shareholders' (deficit)/funds

 

(840,970)

7,448

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 December 2024
 

.........................................
Ms Linda Garbarino
Director

   
     
 

Tenderstories Limited (formerly Tendercapital Productions LTD)

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5th Floor, North Side
7/10 Chandos Street
London
W1G 9DQ

These financial statements were authorised for issue by the director on 31 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged 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 abridged 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.

Going concern

The director has prepared the financial statements on the going concern basis. This is considered appropriate as
the company’s shareholders and creditors will continue to provide financial support to the company for the
foreseeable future. Should the company be unable to continue trading, adjustments would have to be made to
reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise.

 

Tenderstories Limited (formerly Tendercapital Productions LTD)

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 31 December 2024 was Annette Dwyer, who signed for and on behalf of Midas Accountants & Business Consultants Limited.

Prior period restatement

The prior year restatement refers to an amount of £279,835.39 which was transferred from other debtors to fixed assets group loans (Tenderstories SRL). The net effect of this adjustment on the retained earnings is that of £nil.

Revenue recognition

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.

Foreign currency transactions and balances

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.

Intangible assets

The intangible assets presented in the financial statements are stated at their respective values as determined by the Directors.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Right in Script

Straight line basis - 10 years

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.

 

Tenderstories Limited (formerly Tendercapital Productions LTD)

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

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 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 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Auditors' remuneration

2023
£

2022
£

Audit of the financial statements

6,000

-


 

 

Tenderstories Limited (formerly Tendercapital Productions LTD)

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

5

Intangible assets

Total
£

Cost or valuation

At 1 January 2023

785,147

Additions acquired separately

131,831

At 31 December 2023

916,978

Amortisation

At 1 January 2023

52,952

Amortisation charge

26,476

At 31 December 2023

79,428

Carrying amount

At 31 December 2023

837,550

At 31 December 2022

732,195

6

Investments

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,285,969

Additions

853,834

At 31 December 2023

2,139,803

Provision

At 1 January 2023

(35,708)

Provision

828,034

At 31 December 2023

792,326

Carrying amount

At 31 December 2023

1,347,477

At 31 December 2022

1,321,677

Details of undertakings

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:

 

Tenderstories Limited (formerly Tendercapital Productions LTD)

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Tenderstories S.R.L

Via Giacomo Leopardi 8
20123 Milano

Italy

Ordinary shares

100%

100%

Subsidiary undertakings

Tenderstories S.R.L

The principal activity of Tenderstories S.R.L is that of Design, production, postproduction, and marketing.

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

200,000

200,000

200,000

200,000

       
 

Tenderstories Limited (formerly Tendercapital Productions LTD)

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

8

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

7,500

6,200

Summary of transactions with other related parties

9

Parent and ultimate parent undertaking

The company's immediate parent is Two Elle Group Ltd, incorporated in England and Wales.