Company registration number 13243801 (England and Wales)
TIVOLLI HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TIVOLLI HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
TIVOLLI HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
221,000
-
0
Tangible assets
4
36,383
-
0
Investments
5
90
90
257,473
90
Current assets
Debtors
7
622,600
612,600
Investments
8
-
0
41,000
Cash at bank and in hand
703,510
1,218,006
1,326,110
1,871,606
Creditors: amounts falling due within one year
10
(635,812)
(183,266)
Net current assets
690,298
1,688,340
Total assets less current liabilities
947,771
1,688,430
Provisions for liabilities
(45,000)
-
0
Net assets
902,771
1,688,430
Capital and reserves
Called up share capital
11
70
90
Revaluation reserve
135,000
-
0
Capital redemption reserve
20
-
0
Profit and loss reserves
767,681
1,688,340
Total equity
902,771
1,688,430

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 March 2025 and are signed on its behalf by:
Mr J Marsland
Director
Company registration number 13243801 (England and Wales)
TIVOLLI HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2023
90
-
0
-
0
1,222,383
1,222,473
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
-
824,957
824,957
Dividends
-
-
-
(359,000)
(359,000)
Balance at 31 December 2023
90
-
0
-
0
1,688,340
1,688,430
Year ended 31 December 2024:
Profit
-
-
-
423,589
423,589
Other comprehensive income:
Tax relating to other comprehensive income
-
(45,000)
-
45,000
-
Total comprehensive income
-
(45,000)
-
468,589
423,589
Dividends
-
-
-
(293,000)
(293,000)
Redemption of shares
11
(20)
-
20
(916,248)
(916,248)
Transfers
-
180,000
-
(180,000)
-
Balance at 31 December 2024
70
135,000
20
767,681
902,771
TIVOLLI HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Tivolli Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20-22 Wenlock Road, London, N1 7GU.

1.1
Accounting convention

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. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Intangible fixed assets other than goodwill

Intangible assets represents investments in cryptocurrency, initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.3
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:

Motor vehicles
20% straight line

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.

1.4
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.

1.5
Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

 

TIVOLLI HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Intangible fixed assets
Crypto      currency
£
Cost
At 1 January 2024
-
0
Additions
41,000
Revaluation
180,000
At 31 December 2024
221,000
Amortisation and impairment
At 1 January 2024 and 31 December 2024
-
0
Carrying amount
At 31 December 2024
221,000
At 31 December 2023
-
0
TIVOLLI HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Tangible fixed assets
Motor vehicles
£
Cost
At 1 January 2024
-
0
Additions
36,383
At 31 December 2024
36,383
Depreciation and impairment
At 1 January 2024 and 31 December 2024
-
0
Carrying amount
At 31 December 2024
36,383
At 31 December 2023
-
0
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
90
90
6
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Tivolli Limited
England
Trading
Ordinary
100.00
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
622,600
612,600
8
Current asset investments
2024
2023
£
£
Other investments
-
0
41,000
TIVOLLI HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
9
Financial instruments
2024
2023
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through profit or loss
-
41,000
10
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
635,786
177,000
Corporation tax
26
6,266
635,812
183,266
11
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
5
5
5
5
Ordinary B of £1 each
10
10
10
10
Ordinary C of £1 each
10
10
10
10
Ordinary D of £1 each
10
10
10
10
Ordinary E of £1 each
10
10
10
10
Ordinary F of £1 each
5
10
5
10
Ordinary G of £1 each
5
10
5
10
Ordinary H of £1 each
5
10
5
10
Ordinary I of £1 each
5
10
5
10
Ordinary J of £1 each
5
5
5
5
70
90
70
90
12
Directors' transactions

Dividends totalling £76,000 (2023 - £176,000) were paid in the year in respect of shares held by the company's directors.

13
Related party transactions

A loan exists of £635,786 (2023 : £177,000) due to its subsidiary, this amount remains outstanding and is included in creditors: amounts falling due within one year.

 

A loan exists of £ £622,600 (2023 : £612,600) due from Culture Quarter Limited, a company which is partially owned by the directors. This amount is included in debtors: amounts falling due within one year.

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