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Althea Investments Ltd

Annual Report and Unaudited Financial Statements
Year Ended 30 September 2024

Registration number: 07604436

 

Althea Investments Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Althea Investments Ltd

Balance Sheet

30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

485,455

485,455

Current assets

 

Cash at bank and in hand

 

6

6

Total assets less current liabilities

 

485,461

485,461

Creditors: Amounts falling due after more than one year

5

(373,760)

(347,321)

Net assets

 

111,701

138,140

Capital and reserves

 

Called up share capital

6

6

6

Profit and loss account

111,695

138,134

Shareholders' funds

 

111,701

138,140

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 June 2025 and signed on its behalf by:
 

.........................................

Mr V Thayanandarajah

Company secretary and director

Company Registration Number: 07604436

 

Althea Investments Ltd

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kingsley House
Clapham Road South
Lowestoft
Suffolk
NR32 1QS

The business address is the same as the registered office address.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 Section 1A, and the Companies Act 2006. There are no material departures from FRS102.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Althea Investments Ltd

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

Key accounting judgements and sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key estimates that have a significant effect on the amounts recognised in the financial statements are described below:

Intercompany loan interest
The business trades as part of a group. In addition to recharges of central costs and other trading settlements, management charges are raised to reflect the cost of funding arranged at a group level. Significant balances with group and other connected parties arise. These balances are due after more than one year. The lending company charges interest on these loans using a market rate for an equivalent third party loan.

Management are required to make estimates as to the outflow of economic benefits which will be required to settle an obligation in making provisions.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Althea Investments Ltd

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Loans with group companies and entities under common control; and
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when a company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are
cancelled.

Except for loans with group companies and entities under common control, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Loans with group companies and entities under common control are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Althea Investments Ltd

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

4

Investments

2024
 £

2023
 £

Investments in associates

485,455

485,455


 

Associates

£

Cost

At 1 October 2023

485,455

At 30 September 2024

485,455

Carrying amount

At 30 September 2024

485,455

At 30 September 2023

485,455

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Associates

Althea Healthcare Limited

Kingsley House, Clapham Road South, Lowestoft, Suffolk, NR32 1QS

Ordinary

22%

22%

 

Althea Investments Ltd

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

5

Creditors

2024
£

2023
£

Due after one year

Amounts owed to entities under common control

373,760

347,321

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share capital of £1 each

6

6

6

6

       

7

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £11,976.50 per each Ordinary share capital

71,859

71,859

 

 

8

Related party transactions

Summary of transactions with entities under common control

During the year the company entered into various transactions with entities under common control. Transactions entered into, and trading balances outstanding at the year end, are as shown below. Outstanding balances with entities are unsecured, interest bearing and cash settled.

Loans from related parties

2024

Entities under common control
£

At start of period

347,321

Advanced

26,439

At end of period

373,760

 

Althea Investments Ltd

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

2023

Entities under common control
£

At start of period

326,138

Advanced

21,183

At end of period

347,321

Terms of loans from related parties

The loans have a 366 day notice period for repayment. From the current year there is interest charged on these balances and the amounts are presented in other creditors falling due after more than one year and other debtors receivable after more than one year.

9

Parent and ultimate parent undertaking

The company's immediate parent is Synamon Holdings Limited, incorporated in Jersey.

 The ultimate controlling party is The Thayan Trust who own 100% of the shares of the company.