8 25 July 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07712014 2024-01-01 2024-12-31 07712014 2024-12-31 07712014 2023-12-31 07712014 2023-01-01 2023-12-31 07712014 2023-12-31 07712014 2022-12-31 07712014 core:FurnitureFittings 2024-01-01 2024-12-31 07712014 bus:Director1 2024-01-01 2024-12-31 07712014 bus:Director2 2024-01-01 2024-12-31 07712014 core:FurnitureFittings 2023-12-31 07712014 core:FurnitureFittings 2024-12-31 07712014 core:WithinOneYear 2024-12-31 07712014 core:WithinOneYear 2023-12-31 07712014 core:ShareCapital 2024-12-31 07712014 core:ShareCapital 2023-12-31 07712014 core:RetainedEarningsAccumulatedLosses 2024-12-31 07712014 core:RetainedEarningsAccumulatedLosses 2023-12-31 07712014 core:BetweenOneFiveYears 2023-12-31 07712014 bus:SmallEntities 2024-01-01 2024-12-31 07712014 bus:Audited 2024-01-01 2024-12-31 07712014 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07712014 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07712014 bus:FullAccounts 2024-01-01 2024-12-31 07712014 core:ComputerEquipment 2024-01-01 2024-12-31 07712014 core:ComputerEquipment 2023-12-31 07712014 core:ComputerEquipment 2024-12-31
COMPANY REGISTRATION NUMBER: 07712014
Tavant Technologies Private Limited
Filleted Financial Statements
31 December 2024
Tavant Technologies Private Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
2,408
1,606
Current assets
Debtors
6
385,782
532,939
Cash at bank and in hand
149,814
66,508
---------
---------
535,596
599,447
Creditors: amounts falling due within one year
7
( 1,380,627)
( 1,341,208)
------------
------------
Net current liabilities
( 845,031)
( 741,761)
---------
---------
Total assets less current liabilities
( 842,623)
( 740,155)
---------
---------
Net liabilities
( 842,623)
( 740,155)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 842,624)
( 740,156)
---------
---------
Shareholders deficit
( 842,623)
( 740,155)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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 were approved by the board of directors and authorised for issue on 10 July 2025 , and are signed on behalf of the board by:
Mr V S R Devana
Mr S Mahesh
Director
Director
Company registration number: 07712014
Tavant Technologies Private Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, Haymarket, London, WC2H 7DQ, UK. The principal place of business is 6th Floor, City Gate East, Toll House Hill, Nottingham, Nottinghamshire, NG1 5FS, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss as set out in the accounting policies below. The financial statements are prepared in sterling. Going concern In preparing these financial statements, the directors are required to prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. In satisfaction of this responsibility the directors have considered the company's ability to meet its liabilities as they fall due for a period of at least twelve months from the signing date of the financial statements. As at 31 December 2024, the company has net liabilities of £842,623 and remains reliant upon the support of its parent company, Tavant Technologies Inc which owns 100% of the company and which is also the major creditor of the company. Tavant Technologies Inc., has provided a letter of support to the company confirming the intention to provide ongoing financial support for a period of no less than 12 months from the date of approval of the financial statements but this does not represent a legally binding commitment by the parent company. Collectively, the above conditions indicate the existence of a material uncertainty that may cast significant doubt about the company's ability to continue as a going concern. The directors are of the opinion that Tavant Technologies Inc will continue to provide support to the company and that it has the necessary resources to provide this support and that this support will enable the company to continue as a going concern for the foreseeable future and to meet its obligations and settle its liabilities as they fall due for payment for a period of not less than 12 months from the date the financial statements are approved and signed . Accordingly, the financial statements are prepared on the going concern basis. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue is recognised at the point that the service is provided. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings - 25% straight line
Equipment - 33% straight line
Financial instruments Financial liabilities and equity instruments are classified and accounted for according to the substance of the contractual arrangements entered into as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2024
1,942
9,260
11,202
Additions
2,378
2,378
-------
--------
--------
At 31 December 2024
1,942
11,638
13,580
-------
--------
--------
Depreciation
At 1 January 2024
1,942
7,654
9,596
Charge for the year
1,576
1,576
-------
--------
--------
At 31 December 2024
1,942
9,230
11,172
-------
--------
--------
Carrying amount
At 31 December 2024
2,408
2,408
-------
--------
--------
At 31 December 2023
1,606
1,606
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
29,975
75,149
Amounts owed by group undertakings and undertakings in which the company has a participating interest
312,391
402,445
Other debtors
43,416
55,345
---------
---------
385,782
532,939
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
55,822
48,959
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,256,000
1,185,648
Other creditors
68,805
106,601
------------
------------
1,380,627
1,341,208
------------
------------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
4,866
9,732
Later than 1 year and not later than 5 years
4,866
-------
--------
4,866
14,598
-------
--------
9. Summary audit opinion
The auditor's report dated 25 July 2025 was unqualified .
The senior statutory auditor was Peter Conneely , for and on behalf of Moore Kingston Smith LLP .
10. Related party transactions
The company has taken advantage of the exemption available under FRS 102 not to disclose transactions with 100% owned subsidiary undertakings within the group.
11. Controlling party
In the opinion of the directors the immediate parent company undertaking is Tavant Technologies Inc, a company incorporated in the USA. Tavant Technologies Inc registered office is 3965 Freedom Circle, Suite 750, Santa Clara CA 95054, United States. The results of the company are included within the consolidated accounts of Tavant Technologies Inc which are available at their registered office.