Year Ended
Registration number:
Althea Investments Ltd
Balance Sheet
30 September 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Cash at bank and in hand |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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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:
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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
.........................................
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
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The business address is the same as the registered office address.
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
• 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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Althea Investments Ltd
Notes to the Unaudited Financial Statements
Year Ended 30 September 2024
Investments |
2024 |
2023 |
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Investments in associates |
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Associates |
£ |
Cost |
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At 1 October 2023 |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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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 |
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2024 |
2023 |
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Associates |
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Kingsley House, Clapham Road South, Lowestoft, Suffolk, NR32 1QS |
Ordinary |
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Althea Investments Ltd
Notes to the Unaudited Financial Statements
Year Ended 30 September 2024
Creditors |
2024 |
2023 |
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Due after one year |
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Amounts owed to entities under common control |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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6 |
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6 |
Dividends |
Interim dividends paid
2024 |
2023 |
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Interim dividend of £ |
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Related party transactions |
Summary of transactions with entities under common control
Loans from related parties
2024 |
Entities under common control |
At start of period |
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Advanced |
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At end of period |
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Althea Investments Ltd
Notes to the Unaudited Financial Statements
Year Ended 30 September 2024
2023 |
Entities under common control |
At start of period |
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Advanced |
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At end of period |
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Terms of loans from related parties
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is