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REGISTERED NUMBER: 12877702 (England and Wales)










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: Mr A J Cresci
Mr D H Redmond





Secretary: Mr A J Cresci





Registered office: Suite 2, First Floor
10 Temple Back
Bristol
United Kingdom
BS1 6FL





Registered number: 12877702 (England and Wales)





Auditors: Hayvenhursts Limited
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 1,317 2,417

CURRENT ASSETS
Debtors 5 63,478 9,677
Cash at bank 178,761 133,613
242,239 143,290
CREDITORS
Amounts falling due within one year 6 (57,685 ) (35,520 )
NET CURRENT ASSETS 184,554 107,770
TOTAL ASSETS LESS CURRENT
LIABILITIES

185,871

110,187

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 185,771 110,087
185,871 110,187

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





Mr D H Redmond - Director


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 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.

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
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.

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 19 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 February 2023
and 31 January 2024 3,300
Depreciation
At 1 February 2023 883
Charge for year 1,100
At 31 January 2024 1,983
Net book value
At 31 January 2024 1,317
At 31 January 2023 2,417

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 61,774 8,620
Deferred tax asset 1,704 1,057
63,478 9,677

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
Unaudited
£    £   
Taxation and social security 32,726 17,972
Other creditors 24,959 17,548
57,685 35,520

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gareth Williams (Senior Statutory Auditor)
for and on behalf of Hayvenhursts Limited

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.