REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
TROCADERO INVESTMENTS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
TROCADERO INVESTMENTS LIMITED |
TROCADERO INVESTMENTS LIMITED (REGISTERED NUMBER: 04002505) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 9 |
TROCADERO INVESTMENTS LIMITED |
COMPANY INFORMATION |
for the year ended 31 December 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
39 Berwyn Road |
Richmond |
Surrey |
TW10 5BU |
TROCADERO INVESTMENTS LIMITED (REGISTERED NUMBER: 04002505) |
STATEMENT OF FINANCIAL POSITION |
31 December 2024 |
2024 | 2023 |
Notes | $ | $ | $ | $ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Share premium |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
TROCADERO INVESTMENTS LIMITED (REGISTERED NUMBER: 04002505) |
STATEMENT OF FINANCIAL POSITION - continued |
31 December 2024 |
The directors acknowledge their 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
TROCADERO INVESTMENTS LIMITED (REGISTERED NUMBER: 04002505) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2024 |
1. | Statutory information |
Trocadero Investments Limited is a |
The presentation currency of the financial statements is the US Dollar ($). |
2. | Accounting policies |
Basis of preparing the financial statements |
Significant judgements |
In applying the company's accounting policies the directors are required to make judgements in determining the carrying amounts of assets and liabilities. |
The critical judgements made by the directors are discussed below: |
Assessing indicators of impairment - the directors have considered all available evidence to assess whether there are any indicators of impairment in respect of the listed and unlisted investments. |
Assessing the functional currency - the directors have considered the primary economic environment in which the company operates, the currency which mainly influences transactions and the currency which most faithfully represents the economic effects of the underlying transactions. |
Turnover |
Turnover represents investment income receivable. Interest is recognised as it accrues using the effective interest rate method and dividend or distribution income is recognised when the right to receive the distribution has been established. |
TROCADERO INVESTMENTS LIMITED (REGISTERED NUMBER: 04002505) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2024 |
2. | Accounting policies - continued |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds only basic financial instruments which comprise listed and unlisted investments, cash and cash equivalents, loans and other debtors and other creditors. |
Listed and unlisted Investments - these include equity and other investments which are initially recognised at the transaction price. Subsequently, investments that are publicly traded, or whose fair value can be measured reliably, are measured at fair value with changes in fair value recognised in profit or loss. All other investments are measured at cost less impairment. At each reporting date the company reviews the carrying value of its investments on an individual basis to determine whether there is any indication of impairment. If any such indication exists the difference between the individual investment's carrying amount and the best estimate of the amount that the company would receive if the investment were to be sold at the reporting date is recognised immediately in profit or loss. |
Cash and cash equivalents - these include deposits held with banks. |
Loans and other debtors - these are initially recognised at the transaction price and are subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount expected to be receivable, net of any impairment. |
Other creditors - these are initially measured at the transaction price and are subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement. |
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 that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
TROCADERO INVESTMENTS LIMITED (REGISTERED NUMBER: 04002505) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2024 |
2. | Accounting policies - continued |
Foreign currencies |
The reporting currency for these financial statements is US dollars as this is the currency in which the majority of the transactions are undertaken. |
Monetary assets and liabilities in foreign currencies are converted into US dollars at the rates of exchange ruling at the balance sheet date. Trading transactions are translated into US dollars at rates ruling during the year. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
Whilst the company has ceased trading the directors believe that the company has sufficient resources to meet all of its liabilities. They therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Fixed asset investments |
Listed | Unlisted |
investments | investments | Totals |
$ | $ | $ |
Cost |
At 1 January 2024 | 2,783,655 |
Additions | ( |
) | 427,562 |
Disposals | ( |
) | ( |
) | (3,211,217 | ) |
At 31 December 2024 | - |
Provisions |
At 1 January 2024 | - | 145,972 | 145,972 |
Eliminated on disposal | - | (145,972 | ) | (145,972 | ) |
At 31 December 2024 | - | - | - |
Net book value |
At 31 December 2024 | - |
At 31 December 2023 | 2,637,683 |
Listed investments were measured at fair value through profit or loss based on quoted market prices in an active market. The original cost of these investments was $nil (2023 - $1,211,709). |
The listed and unlisted investments were transferred to the parent company, SC des Etocs, at market value by way of a dividend in specie. |
TROCADERO INVESTMENTS LIMITED (REGISTERED NUMBER: 04002505) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2024 |
5. | Debtors |
2024 | 2023 |
$ | $ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
VAT |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Loan | - | 399,091 |
Aggregate amounts |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
$ | $ |
Corporation tax |
Other creditors |
Accruals |
7. | Provisions for liabilities |
2024 | 2023 |
$ | $ |
Deferred tax |
Other timing differences | - | 98,863 |
Deferred |
tax |
$ |
Balance at 1 January 2024 |
Utilised during year | ( |
) |
Balance at 31 December 2024 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | $ | $ |
Ordinary | $0.01 | 1 | 1 |
TROCADERO INVESTMENTS LIMITED (REGISTERED NUMBER: 04002505) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2024 |
8. | Called up share capital - continued |
On 29 July 2024 the Members passed a written resolution to reduce the share capital of the company by $1,583,335. This was effected by the the reduction of the Share premium account to $nil and the addition of $1,583,335 to the Profit and loss reserve (Retained earnings). |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
TROCADERO INVESTMENTS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Trocadero Investments Limited for the year ended 31 December 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Trocadero Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Trocadero Investments Limited and state those matters that we have agreed to state to the Board of Directors of Trocadero Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trocadero Investments Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Trocadero Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Trocadero Investments Limited. You consider that Trocadero Investments Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Trocadero Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
39 Berwyn Road |
Richmond |
Surrey |
TW10 5BU |