REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
THETA LAKE UK LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
THETA LAKE UK LTD |
THETA LAKE UK LTD (REGISTERED NUMBER: 12877702) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THETA LAKE UK LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Fairway House |
Links Business Park |
St Mellons |
Cardiff |
CF3 0LT |
THETA LAKE UK LTD (REGISTERED NUMBER: 12877702) |
BALANCE SHEET |
31 JANUARY 2024 |
31/1/24 | 31/1/23 |
Unaudited |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THETA LAKE UK LTD (REGISTERED NUMBER: 12877702) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Theta Lake UK Ltd is a |
The company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover represents amounts charged to the Company's parent under an agreement for services provided, excluding value added tax. Turnover is recognised when chargeable costs are incurred. |
Tangible fixed assets |
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised. |
Depreciation is provided at the following annual rates on a straight-line basis in order to write off each asset over its estimated useful life. |
Computer Equipment - 33% on cost |
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. |
Repairs, maintenance and minor inspection costs are expensed as incurred. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
THETA LAKE UK LTD (REGISTERED NUMBER: 12877702) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Share based payment |
Judgement and estimation are required in determining the fair value of shares at the date of award. The fair value is estimated using valuation techniques which take into account the award's term, the risk-free interest rate and the expected volatility of the market price of the Parent Company's shares. Judgement and estimation are also required to assess the number of options expected to vest |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 February 2023 |
and 31 January 2024 |
Depreciation |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
Net book value |
At 31 January 2024 |
At 31 January 2023 |
THETA LAKE UK LTD (REGISTERED NUMBER: 12877702) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/24 | 31/1/23 |
Unaudited |
£ | £ |
Amounts owed by group undertakings |
Deferred tax asset |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/24 | 31/1/23 |
Unaudited |
£ | £ |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | ULTIMATE CONTROLLING PARTY |
Theta Lake, Inc. (incorporated in United States of America) is regarded by the director as being the company's immediate and ultimate parent company. |
The largest and smallest group in which the results of the company are consolidated is that by Theta Lake, Inc. with its principal place of business at 4 Fairoaks Court, San Mateo, CA 94403, United States of America. |