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Registration number: 07095069

East Thames Investments (2015) Limited

Unaudited Annual Report and Financial Statements

for the Year Ended 31 December 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

East Thames Investments (2015) Limited

Contents

Company Information

1

Director's Report

2

Statement of Income and Retained Earnings

3

Statement of Financial Position

4

Notes to the Unaudited Financial Statements

5 to 9

 

East Thames Investments (2015) Limited

Company Information

Director

B D Dove-Seymour

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

East Thames Investments (2015) Limited

Director's Report for the Year Ended 31 December 2023

The director presents his report and the financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

P A Grout (ceased 6 April 2023)

H N Gates (ceased 6 April 2023)

B D Dove-Seymour

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 2 September 2024 and signed on its behalf by:




 

.........................................
B D Dove-Seymour
Director

 

East Thames Investments (2015) Limited

Statement of Income and Retained Earnings for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

 

-

-

Administrative expenses

 

(12,580)

(13,106)

Operating loss

 

(12,580)

(13,106)

Other interest receivable and similar income

 

134,353

44,064

Amounts written off investments

 

7,114,811

798,484

 

7,249,164

842,548

Profit before tax

7,236,584

829,442

Taxation

 

(28,745)

(5,882)

Profit for the financial year

 

7,207,839

823,560

Retained earnings brought forward

 

5,300,375

4,476,815

Retained earnings carried forward

 

12,508,214

5,300,375

 

East Thames Investments (2015) Limited

Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

-

321,907

Other financial assets

5

10,432,050

3,317,239

 

10,432,050

3,639,146

Current assets

 

Debtors

6

2,403,268

1,963,056

Cash at bank and in hand

 

3,801

7,252

 

2,407,069

1,970,308

Creditors: Amounts falling due within one year

7

(30,904)

(9,078)

Net current assets

 

2,376,165

1,961,230

Net assets

 

12,808,215

5,600,376

Capital and reserves

 

Called up share capital

300,001

300,001

Retained earnings

12,508,214

5,300,375

Shareholders' funds

 

12,808,215

5,600,376

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Approved and authorised by the director on 2 September 2024
 

.........................................

B D Dove-Seymour

Director

Company registration number: 07095069

 

East Thames Investments (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company during the year was that of an investment holding company.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Group accounts not prepared

The company was at the year end a wholly-owned subsidiary of another company incorporated in the EEA and in accordance with section 400 of the Companies Act 2006 it is not required to produce and has not published consolidated financial statements. Therefore the financial statements disclose information about the individual company and not its group.

Going concern

The company had net assets at 31 December 2023 amounting to £12,808,215.

As an investment holding company, the company has few fixed overheads and no significant working capital requirements.

Having made sufficient enquiries, and based upon the above, the directors have a reasonable expectation that the company has adequate resources to continue operating in the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial accounts.

 

East Thames Investments (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

 

East Thames Investments (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Investments

2023
£

2022
£

Investments in subsidiaries

-

321,907

Subsidiaries

£

Cost or valuation

At 1 January 2023

877,055

Disposals

(877,055)

At 31 December 2023

-

Provision

At 1 January 2023

555,148

Eliminated on disposals

(555,148)

At 31 December 2023

-

Carrying amount

At 31 December 2023

-

At 31 December 2022

321,907

 

East Thames Investments (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Other financial assets

Other investments at cost less impairment
£

Total
£

Associated undertakings

Cost or valuation

At 1 January 2023 and 31 December 2023

10,432,050

10,432,050

Impairment

At 1 January 2023

7,114,811

7,114,811

Impairment reversal

(7,114,811)

(7,114,811)

At 31 December 2023

-

-

Carrying amount

At 31 December 2023

10,432,050

10,432,050

At 1 January 2023

3,317,239

3,317,239

6

Debtors

2023
£

2022
£

Amounts owed by group undertakings

2,403,268

1,962,794

Other debtors

-

262

2,403,268

1,963,056

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Trade creditors

 

-

676

Amounts owed to group undertakings

8

2,047

-

Taxation and social security

 

26,698

5,882

Other creditors

 

2,159

2,520

 

30,904

9,078

 

East Thames Investments (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Related party transactions

Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts falling due with companies wholly owned within the group.