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REGISTERED NUMBER: 01458474 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THETA COMPUTER SERVICES LIMITED

THETA COMPUTER SERVICES LIMITED (REGISTERED NUMBER: 01458474)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THETA COMPUTER SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: G Gluck





SECRETARY: Arm Secretaries Limited





REGISTERED OFFICE: 2nd Floor
4 Hill Street
London
W1J 5NE





REGISTERED NUMBER: 01458474 (England and Wales)





ACCOUNTANTS: MGR Weston Kay LLP
Chartered Accountants
55 Loudoun Road
St John's Wood
London
NW8 0DL

THETA COMPUTER SERVICES LIMITED (REGISTERED NUMBER: 01458474)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 15,327 10,046
Tangible assets 5 1,266 -
16,593 10,046

CURRENT ASSETS
Debtors 6 3,144 4,142
Cash at bank and in hand 7,131 732
10,275 4,874
CREDITORS
Amounts falling due within one year 7 (82,621 ) (7,226 )
NET CURRENT LIABILITIES (72,346 ) (2,352 )
TOTAL ASSETS LESS CURRENT LIABILITIES (55,753 ) 7,694

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Revaluation reserve 2,221 1,672
Retained earnings (58,974 ) 5,022
SHAREHOLDERS' FUNDS (55,753 ) 7,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

THETA COMPUTER SERVICES LIMITED (REGISTERED NUMBER: 01458474)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Profit And Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 May 2025 and were signed by:





G Gluck - Director


THETA COMPUTER SERVICES LIMITED (REGISTERED NUMBER: 01458474)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Theta Computer Services Limited 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 presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Accounting convention
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 as modified by the revaluation of certain assets.

Going concern
The financial statements have been prepared on the going concern basis, as the director has confirmed that funds will continue to be made available from related entities to enable it to meet its day to day commitments for the foreseeable future. The director is of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements and the financial statements do not include any adjustments that might result from the withdrawal of this support.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Intangible assets
Intangible fixed assets represent costs incurred to date in respect of trademarks and Bitcoin. Intangible fixed assets are amortised over the term of the Intangible asset or, if shorter, the period over which the director expects the company to derive economic benefit from the trademark.

Trademarks 10% Straight Line from 1 January 2013

THETA COMPUTER SERVICES LIMITED (REGISTERED NUMBER: 01458474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk


THETA COMPUTER SERVICES LIMITED (REGISTERED NUMBER: 01458474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Cryptocurreny
Trademarks Investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 84,772 9,852 94,624
Additions - 4,926 4,926
Revaluations - 549 549
At 31 December 2024 84,772 15,327 100,099
AMORTISATION
At 1 January 2024 84,772 (194 ) 84,578
Amortisation for year - 194 194
At 31 December 2024 84,772 - 84,772
NET BOOK VALUE
At 31 December 2024 - 15,327 15,327
At 31 December 2023 - 10,046 10,046

THETA COMPUTER SERVICES LIMITED (REGISTERED NUMBER: 01458474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. INTANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2024 is represented by:

Cryptocurreny
Trademarks Investments Totals
£    £    £   
Valuation in 2023 84,772 9,852 94,624
Valuation in 2024 - 5,475 5,475
84,772 15,327 100,099

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2024 742
Additions 1,582
At 31 December 2024 2,324
DEPRECIATION
At 1 January 2024 742
Charge for year 316
At 31 December 2024 1,058
NET BOOK VALUE
At 31 December 2024 1,266
At 31 December 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 314 367
Amounts owed by group undertakings - 1,385
Other debtors 2,830 2,390
3,144 4,142

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 3,707 1,736
Amounts owed to group undertakings 75,709 -
Other creditors 3,205 5,490
82,621 7,226

THETA COMPUTER SERVICES LIMITED (REGISTERED NUMBER: 01458474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
1,000 Ordinary shares £1 1,000 1,000

9. RELATED PARTY DISCLOSURES

Remuneration of key management personnel
The company has taken advantage of the exemption available in accordance with FRS 102 Section 33 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, as the company and the other subsidiaries are wholly owned subsidiary undertakings of the group to which they are party to the transactions.

10. CONTROL

The immediate and ultimate parent company is M & S Shipping Group Limited, a company incorporated in England. The registered office is 2nd Floor, 4 Hill Street, London, W1J 5NE