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Registered number: 13978271
TENE LIVING UK (READING) HOLDCO LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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TENE LIVING UK (READING) HOLDCO LTD
COMPANY INFORMATION
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TENE LIVING UK (READING) HOLDCO LTD
CONTENTS
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Statement of Profit or Loss
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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TENE LIVING UK (READING) HOLDCO LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The director presents his report and the financial statements for the year ended 31 December 2024.
Director's responsibilities statement
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The director is responsible for preparing the Director's Report and the financial statements, in accordance with applicable law.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted by the UK.
Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing the financial statements, the director is required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgments and estimates that are reasonable and prudent;
∙state whether they have been prepared in accordance with IFRS as adopted by the UK, subject to any material departures disclosed and explained in the financial statements;
∙assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
∙use the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is responsible for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and has general responsibility for taking such steps as are reasonably open to the director to safeguard the assets of the Company and to prevent and detect fraud and other irregularities.
The principal activity of the company is that of a holding company.
The director who served during the year was:
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TENE LIVING UK (READING) HOLDCO LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Small companies' exemption note
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In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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TENE LIVING UK (READING) HOLDCO LTD
STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company has not traded during the year or preceding financial year. During these periods, the Company received no income and incurred no expenditure and therefore made neither profit nor loss.
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The notes on pages 10 to 12 form part of these financial statements.
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TENE LIVING UK (READING) HOLDCO LTD
REGISTERED NUMBER: 13978271
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Investment in subsidiaries
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Trade and other receivables
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Issued capital and reserves
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TENE LIVING UK (READING) HOLDCO LTD
REGISTERED NUMBER: 13978271
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
For the year ending 31 December 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements on pages 3 to 12 were approved and authorised for issue by the board of director on 23 September 2025 and were signed on its behalf by:
The notes on pages 10 to 12 form part of these financial statements.
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TENE LIVING UK (READING) HOLDCO LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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Comprehensive income for the year
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Comprehensive income for the year
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Contributions by and distributions to owners
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Issue of share capital (Note 8)
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Total contributions by and distributions to owners
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The notes on pages 10 to 12 form part of these financial statements.
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TENE LIVING UK (READING) HOLDCO LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
Cash flows from operating activities
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Movements in working capital:
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Increase in trade and other receivables
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Cash generated from operations
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Net cash used in operating activities
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Cash flows from investing activities
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Amounts advanced from related parties
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Net cash from investing activities
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Cash flows from financing activities
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Net cash from financing activities
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Net increase in cash and cash equivalents
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Cash and cash equivalents at the end of the year
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The notes on pages 10 to 12 form part of these financial statements.
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TENE LIVING UK (READING) HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Tene Living UK (Reading) Holdco Ltd (the 'Company') is a limited company incorporated in . The Company's registered office is at . The Company's principal activity is that of a holding company..
The financial statements have been prepared in accordance with International Financial Reporting Standards, International Accounting Standards and Interpretations as adopted by the UK (collectively IFRSs) and with the requirements of the Companies Act 2006 as applicable to small companies. They were authorised for issue by the Company's board of directors on 23 September 2025.
Details of the Company's accounting policies, including changes during the year, are included in note 4.
In preparing these financial statements, management has made judgments, estimates and assumptions that affect the application of the Company accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.
The areas where judgments and estimates have been made in preparing the financial statements and their effects are disclosed in note .
The financial statements have been prepared on the historical cost basis.
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2.1 Changes in accounting policies
i) New standards, interpretations and amendments effective from 1 January 2024
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The following standards and interpretations apply for the first time to financial reporting periods commencing on or after 1 January 2024:
Classification of Liabilities as Current or Non-current – Amendments to IAS 1, Non-current liabilities with Covenants – Amendments to IAS 1
Lease Liability in a Sale and Leaseback – Amendments to IFRS 16
Supplier finance arrangements – Amendments to IAS 7 and IFRS 7
The following IFRS sustainability standards were issued by the International Sustainability Standards Board (ISSB) in June 2023.
IFRS S1: General requirements for disclosure of sustainability-related financial information
IFRS S2: Climate-related disclosures
The standards are applicable for annual reporting periods beginning on or after 1 January 2024, however are yet to be endorsed by the UK Government which will determine which companies are in scope and the exact effective date (currently expected to be no earlier than accounting periods beginning on or after 1 January 2026).
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TENE LIVING UK (READING) HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Basis of preparation (continued)
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2.1 Changes in accounting policies (continued)
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i) New standards, interpretations and amendments effective from 1 January 2024 (continued)
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New standard or amendment – issued but not yet effective in the year
As at 31 December 2024, the following standards and interpretations had been issued but were not mandatory for annual reporting periods ending on 31 December 2024.
Amendments to IAS 21 to clarify the accounting when there is a lack of exchangeability
Amendment to IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments
Annual improvements to IFRS – Volume 11
IFRS 18 Presentation and Disclosure in Financial Statements
IFRS 19 Subsidiaries without Public Accountability: Disclosures
Certain new accounting standards and interpretations have been published that are not mandatory for 31 December 2024 reporting periods and have not been early adopted by the company. None of these are expected to have a material impact on the company in the current or future reporting periods and on foreseeable future transactions.
The directors anticipate that the adoption of these Standards in future periods may have an impact on the results and net assets of the Company, however, it is too early to quantify this.
The directors anticipate that the adoption of other Standards and interpretations that are not yet effective in future periods will only have an impact on the presentation in the financial statements of the Company.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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Functional and presentation currency
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These financial statements are presented in pound sterling, which is the Company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.
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TENE LIVING UK (READING) HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
4.Accounting policies
The Directors assess whether the use of the going concern basis of accounting is appropriate, i.e., whether there are any material uncertainties related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. The Directors make this assessment for a period of at least one year from the date of authorization for issue of the financial statements and have concluded that the Company has adequate resources to continue in operational existence for the foreseeable future. There are no material uncertainties about the Company's ability to continue as a going concern, thus the Directors continue to adopt the going concern basis in preparing the financial statements.
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Investments in subsidiaries
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Subsidiaries are all entities over whose financial and operating policies the Company has the power to govern, generally accompanying a shareholding of more than one half of the voting rights. Investments in subsidiaries are measured at cost less accumulated impairment in the separate financial statements of the Parent Company.
The company has elected not to prepare a consolidated financial statements using the small companies' regime regulations.
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Cash and cash equivalents
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Cash and cash equivalents comprise cash on hand and demand deposits, together with other short-term, highly liquid investments maturing within 90 days from the date of acquisition that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value.
Financial assets and financial liabilities are recognised when an entity becomes a party to the contractual provisions of the instruments.
Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.
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Other non-current investments
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Investments in subsidiary companies
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TENE LIVING UK (READING) HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Trade and other receivables
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Receivables from related parties
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Total financial liabilities
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Ordinary A shares of £1.00 each
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Ordinary B shares of £1.00 each
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Ordinary A shares of £1.00 each
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At 1 January and 31 December
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TENE LIVING UK (READING) HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
8.Share capital (continued)
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Ordinary B shares of £1.00 each
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Related party transactions
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During the year there was a loan due from Tene Living UK (Reading) Ltd, included within other receivables. This comprised an opening balance of £16,423,287 and advances of £466,713, leaving a year end balance of £16,890,000. This loan was unsecured, with no fixed repayment terms.
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The Company is not subject to any externally imposed capital requirements.
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The gearing ratios at 31 December 2024 and 31 December 2023 were as follows:
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Net debt to total equity ratio
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Events after the reporting date
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No adjusting or significant non-adjusting events have occurred between the 31 December 2024 reporting
date and the date of authorisation.
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