REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
THEBES CLOUD MANAGEMENT LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
THEBES CLOUD MANAGEMENT LIMITED |
THEBES CLOUD MANAGEMENT LIMITED (REGISTERED NUMBER: 13121424) |
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 |
THEBES CLOUD MANAGEMENT LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 London Mews |
Paddington |
LONDON |
W2 1HY |
THEBES CLOUD MANAGEMENT LIMITED (REGISTERED NUMBER: 13121424) |
BALANCE SHEET |
31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THEBES CLOUD MANAGEMENT LIMITED (REGISTERED NUMBER: 13121424) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Thebes Cloud Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
At the balance sheet date the company has a net deficit and is reliant on the continued support of its shareholders. The director considers the going concern basis to be appropriate and therefore the financial statements do not include any adjustments that might result from the withdrawal of support from its creditors |
Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
Tangible fixed assets |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties. |
The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments/receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised costs using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
THEBES CLOUD MANAGEMENT LIMITED (REGISTERED NUMBER: 13121424) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2024 |
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 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
During the year the company received loans of £386,757 (2023 - £395,044) and repaid £303,382 (2023- £69,326) to the parent company. The parent company also wrote off £433,553 of inter company balance with the company. As at the balance sheet date the company owes the parent company £131,122 (2023 - £481,300). This is included in other creditors. |
Loans are interest free and repayable on demand. |
During the year the company charged fees of £Nil (2023 - £200,449) to the parent company. As at the balance sheet date, the balance due to the company is £ Nil (2023 - £6,127) and this was included in Trade debtors. |
The company also paid recharged expenses of £201,235 (2023 - £419,869) to the parent company. As at the balance sheet date the company owes the parent company £Nil (2023: £47) and this is included in other creditors. |
THEBES CLOUD MANAGEMENT LIMITED (REGISTERED NUMBER: 13121424) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2024 |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is Thebes IT Solutions Limited. |
The ultimate controlling party is |