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REGISTERED NUMBER: 11478175 (England and Wales)
















Unaudited Financial Statements

for the Period 1 May 2023 to 31 December 2023

for

Theseathesea Ltd

Theseathesea Ltd (Registered number: 11478175)






Contents of the Financial Statements
for the Period 1 May 2023 to 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Theseathesea Ltd

Company Information
for the Period 1 May 2023 to 31 December 2023







DIRECTORS: Mr A J S Hunter
Mr V C L Voon
Mr M Hunter





REGISTERED OFFICE: 174 Pavilion Rd
London
SW1X 0AW





REGISTERED NUMBER: 11478175 (England and Wales)





ACCOUNTANTS: Chandler and Partners Limited
5 Moor Street
Worcester
Worcestershire
WR1 3DB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Theseathesea Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Theseathesea Ltd for the period ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Theseathesea Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Theseathesea Ltd and state those matters that we have agreed to state to the Board of Directors of Theseathesea Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Theseathesea Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Theseathesea Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Theseathesea Ltd. You consider that Theseathesea Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Theseathesea Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Chandler and Partners Limited
5 Moor Street
Worcester
Worcestershire
WR1 3DB


Date: .............................................

Theseathesea Ltd (Registered number: 11478175)

Balance Sheet
31 December 2023

31.12.23 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,900 29,191
Tangible assets 5 714,512 774,921
Investments 6 50,000 50,000
778,412 854,112

CURRENT ASSETS
Stocks 17,124 57,247
Debtors 7 557,269 495,248
574,393 552,495
CREDITORS
Amounts falling due within one year 8 480,257 673,803
NET CURRENT ASSETS/(LIABILITIES) 94,136 (121,308 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

872,548

732,804

CREDITORS
Amounts falling due after more than one
year

9

441,147

314,676
NET ASSETS 431,401 418,128

CAPITAL AND RESERVES
Called up share capital 2 2
Share premium 1,090,027 1,090,027
Retained earnings (658,628 ) (671,901 )
431,401 418,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Theseathesea Ltd (Registered number: 11478175)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:





Mr A J S Hunter - Director


Theseathesea Ltd (Registered number: 11478175)

Notes to the Financial Statements
for the Period 1 May 2023 to 31 December 2023

1. STATUTORY INFORMATION

Theseathesea Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on reducing balance
Plant and machinery - 12.5% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2023 - 25 ) .

Theseathesea Ltd (Registered number: 11478175)

Notes to the Financial Statements - continued
for the Period 1 May 2023 to 31 December 2023

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 May 2023 10,384 28,205 38,589
Disposals - (13,790 ) (13,790 )
At 31 December 2023 10,384 14,415 24,799
AMORTISATION
At 1 May 2023 2,077 7,321 9,398
Amortisation for period 692 1,182 1,874
Eliminated on disposal - (373 ) (373 )
At 31 December 2023 2,769 8,130 10,899
NET BOOK VALUE
At 31 December 2023 7,615 6,285 13,900
At 30 April 2023 8,307 20,884 29,191

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 600,077 331,915 20,222 44,167 996,381
Additions - - - 1,136 1,136
Disposals - - (16,393 ) - (16,393 )
At 31 December 2023 600,077 331,915 3,829 45,303 981,124
DEPRECIATION
At 1 May 2023 93,797 109,871 699 17,093 221,460
Charge for period 20,002 18,547 638 6,541 45,728
Eliminated on disposal - - (576 ) - (576 )
At 31 December 2023 113,799 128,418 761 23,634 266,612
NET BOOK VALUE
At 31 December 2023 486,278 203,497 3,068 21,669 714,512
At 30 April 2023 506,280 222,044 19,523 27,074 774,921

Theseathesea Ltd (Registered number: 11478175)

Notes to the Financial Statements - continued
for the Period 1 May 2023 to 31 December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 31 December 2023 50,000
NET BOOK VALUE
At 31 December 2023 50,000
At 30 April 2023 50,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 30.4.23
£    £   
Trade debtors 166,869 196,720
Amounts owed by group undertakings 256,091 113,781
Other debtors 98,292 152,938
Prepayments 36,017 31,809
557,269 495,248

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 30.4.23
£    £   
Bank loans and overdrafts 34,673 119,323
Hire purchase contracts 30,140 70,151
Trade creditors 155,436 286,904
Amounts owed to group undertakings 27,183 -
Social security and other taxes 120,368 109,670
Pensions 1,022 2,436
VAT 9,013 1,700
Directors' current accounts 75,868 63,332
Accrued expenses 26,554 20,287
480,257 673,803

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 30.4.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 4,338 10,833
Other loans - 1-2 years 348,559 200,000
Hire purchase contracts - 5,843
Other creditors 78,250 88,000
441,147 314,676

10. ULTIMATE CONTROLLING PARTY

The controlling party is The Sea The Sea Group Ltd.