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COMPANY REGISTRATION NUMBER: 05298272
Thalis Limited
Filleted Unaudited Financial Statements
27 November 2022
Thalis Limited
Financial Statements
Period from 29 November 2021 to 27 November 2022
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Thalis Limited
Statement of Financial Position
27 November 2022
27 Nov 22
28 Nov 21
Note
£
£
£
Fixed assets
Investments
6
23,441
296,751
Current assets
Stocks
669,607
Debtors
7
53
53
Cash at bank and in hand
312,175
469,572
---------
---------
981,835
469,625
Creditors: amounts falling due within one year
8
173,730
196,225
---------
---------
Net current assets
808,105
273,400
---------
---------
Total assets less current liabilities
831,546
570,151
Creditors: amounts falling due after more than one year
9
1,025,000
735,000
------------
---------
Net liabilities
( 193,454)
( 164,849)
------------
---------
Capital and reserves
Called up share capital
2
2
Share premium account
2,999
2,999
Profit and loss account
( 196,455)
( 167,850)
---------
---------
Shareholders deficit
( 193,454)
( 164,849)
---------
---------
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 income and retained earnings has not been delivered.
For the period ending 27 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Thalis Limited
Statement of Financial Position (continued)
27 November 2022
These financial statements were approved by the board of directors and authorised for issue on 22 November 2023 , and are signed on behalf of the board by:
Mr S Alexopoulos
Director
Company registration number: 05298272
Thalis Limited
Notes to the Financial Statements
Period from 29 November 2021 to 27 November 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.
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 and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
Income tax
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 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 - 3 years straight line Equipment - 5 years straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2021: 12 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 29 November 2021 and 27 November 2022
119
8,523
8,642
----
-------
-------
Depreciation
At 29 November 2021 and 27 November 2022
119
8,523
8,642
----
-------
-------
Carrying amount
At 27 November 2022
----
-------
-------
At 28 November 2021
----
-------
-------
6. Investments
Other investments
£
Cost
At 29 November 2021
296,751
Additions
16,690
Disposals
( 290,000)
---------
At 27 November 2022
23,441
---------
Impairment
At 29 November 2021 and 27 November 2022
---------
Carrying amount
At 27 November 2022
23,441
---------
At 28 November 2021
296,751
---------
7. Debtors
27 Nov 22
28 Nov 21
£
£
Other debtors
53
53
----
----
8. Creditors: amounts falling due within one year
27 Nov 22
28 Nov 21
£
£
Social security and other taxes
11,361
10,401
Other creditors
162,369
185,824
---------
---------
173,730
196,225
---------
---------
9. Creditors: amounts falling due after more than one year
27 Nov 22
28 Nov 21
£
£
Other creditors
1,025,000
735,000
------------
---------
10. Related party transactions
At the year end the directors were owed £144,869 (2021: £167,824).