REGISTERED NUMBER: 11166706 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ATHARUS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L Somanathan

J Sundaralingam

A S Somanathan

A P Somanathan

S A Somanathan

REGISTERED OFFICE:

102 Burdon Lane

Cheam

Sutton

Surrey

SM2 7DA

REGISTERED NUMBER:

11166706 (England and Wales)

SENIOR STATUTORY AUDITOR:

Lee Daley FCA FCCA

AUDITORS:

THP Limited

Chartered Accountants

and Statutory Auditors

Unit 4 Mulgrave Chambers

26-28 Mulgrave Road

Sutton

Surrey

SM2 6LE

FIXED ASSETS

Tangible assets

4

6,169

2,541

CURRENT ASSETS

Debtors

5

-

14,888

Investments

6

1,132,892

623,205

Cash at bank

106

168

1,132,998

638,261

CREDITORS

Amounts falling due within one year

7

910,479

524,487

NET CURRENT ASSETS

222,519

113,774

TOTAL ASSETS LESS CURRENT LIABILITIES

228,688

116,315

PROVISIONS FOR LIABILITIES

9

1,542

532

NET ASSETS

227,146

115,783

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

226,146

114,783

227,146

115,783

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 29 September 2025 and were signed on its behalf by:

L Somanathan - Director

1.	STATUTORY INFORMATION

Atharus 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

The directors, having considered all the information available, are confident that the company has adequate reserves and resources to continue its operational activities for the foreseeable future. Accordingly, the directors are satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

Straight line over 3 years

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS102 in respect of financial instruments.

(i) Financial assets

Basic financial assets are initially recognised at transaction value and are subsequently carried at this value less any provision for impairment.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit and loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to and unrelated third party without imposing additional restrictions.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

3,188

Additions

4,971

At 31 December 2024

8,159

DEPRECIATION

At 1 January 2024

647

Charge for year

1,343

At 31 December 2024

1,990

NET BOOK VALUE

At 31 December 2024

6,169

At 31 December 2023

2,541

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Directors' current accounts

-

14,888

6.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Financial instrument

1,132,892

623,205

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Corporation tax

34,106

14,697

Social security and other taxes

2,090

19,609

Directors' current accounts

870,283

486,521

Accrued expenses

4,000

3,660

910,479

524,487

8.	FINANCIAL INSTRUMENTS

2024

2023

£

£

Financial assets measured at fair value through profit and loss

Financial instrument

1,132,892

623,205

The fair value of financial instruments has been established using the closing equity quoted price for those assets held within a portfolio at the reporting date.

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

1,542

532

Deferred

tax

£

Balance at 1 January 2024

532

Provided during year

1,010

Balance at 31 December 2024

1,542

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

The Report of the Auditors was unqualified.

Lee Daley FCA FCCA (Senior Statutory Auditor)

for and on behalf of THP Limited

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

A S Somanathan

Balance outstanding at start of year

10,136

-

Amounts advanced

-

10,136

Amounts repaid

(10,136

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

10,136

A P Somanathan

Balance outstanding at start of year

3,530

-

Amounts advanced

-

3,530

Amounts repaid

(3,530

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

3,530

S A Somanathan

Balance outstanding at start of year

1,222

-

Amounts advanced

-

1,222

Amounts repaid

(1,222

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,222

The loans,which were provided interest free and with no fixed repayment terms, were repaid during the year.

12.	RELATED PARTY DISCLOSURES

At the year end certain of the directors' were owed £870,283 (2023 : £486,521) by the company. The loans are interest free and carry no fixed terms of repayment.

13.	ULTIMATE CONTROLLING PARTY

L Somanathan has control though his shareholding and by controlling the day-to-day operations of the company.