Silverfin false false 31/03/2025 09/11/2023 31/03/2025 T Wimshurst 09/11/2023 10 March 2026 The principal activity of the Company is that of property development. 15271522 2025-03-31 15271522 bus:Director1 2025-03-31 15271522 core:CurrentFinancialInstruments 2025-03-31 15271522 core:ShareCapital 2025-03-31 15271522 core:RetainedEarningsAccumulatedLosses 2025-03-31 15271522 2023-11-08 15271522 core:TaxLossesCarry-forwardsDeferredTax 2025-03-31 15271522 bus:OrdinaryShareClass1 2025-03-31 15271522 2023-11-09 2025-03-31 15271522 bus:FilletedAccounts 2023-11-09 2025-03-31 15271522 bus:SmallEntities 2023-11-09 2025-03-31 15271522 bus:AuditExemptWithAccountantsReport 2023-11-09 2025-03-31 15271522 bus:PrivateLimitedCompanyLtd 2023-11-09 2025-03-31 15271522 bus:Director1 2023-11-09 2025-03-31 15271522 bus:OrdinaryShareClass1 2023-11-09 2025-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 15271522 (England and Wales)

# THESSALY LTD

### Unaudited Financial Statements
For the financial period from 09 November 2023 to 31 March 2025
Pages for filing with the registrar

THESSALY LTD

## Unaudited Financial Statements

For the financial period from 09 November 2023 to 31 March 2025

Contents

THESSALY LTD

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
THESSALY LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 31.03.2025
|  | £
Current assets |  |
Debtors | 3 | 92,032
Cash at bank and in hand |  | 51,119
|  | 143,151
Creditors: amounts falling due within one year | 4 | ( 145,060)
Net current liabilities |  | (1,909)
Total assets less current liabilities |  | (1,909)
Net liabilities |  | ( 1,909)
Capital and reserves |  |
Called-up share capital | 6 | 100
Profit and loss account |  | ( 2,009 )
Total shareholders' deficit |  | ( 1,909)

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Thessaly Ltd (registered number: 15271522) were approved and authorised for issue by the Director. They were signed on its behalf by:

T Wimshurst Director |

10 March 2026

THESSALY LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 09 November 2023 to 31 March 2025
THESSALY LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 09 November 2023 to 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

##### General information and basis of accounting

Thessaly Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 6 Putney Common, London, SW15 1HL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements, noting that the Company had net current liabilities of £1,909 and net liabilities of £1,909.
The Company is supported by shareholder loans totalling £137,500, and it has been confirmed that these loans will not be recalled until such time that the Company is in a position to repay them. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements, and accordingly, they adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable 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 creditors: amounts falling due within one year.

##### 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 and from related parties.

Financial assets
Basic financial assets, including other debtors, and amounts due from related companies, 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 receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
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 the 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 an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

#### 2. Employees

| Period from 09.11.2023 to 31.03.2025
| Number
Monthly average number of persons employed by the company during the period, including the director | 1

#### 3. Debtors

| 31.03.2025
| £
Amounts owed by group undertakings | 60,070
Prepayments and accrued income | 29,687
Deferred tax asset | 669
VAT recoverable | 1,084
Other debtors | 522
| 92,032

#### 4. Creditors: amounts falling due within one year

| 31.03.2025
| £
Trade creditors | 5,160
Accruals | 2,400
Other creditors | 137,500
| 145,060

#### 5. Deferred tax

| 31.03.2025
| £
At the beginning of financial period | 0
Credited to the Statement of Income and Retained Earnings | 669
At the end of financial period | 669

The deferred taxation balance is made up as follows:

| 31.03.2025
| £
Tax losses carry forward | 669

#### 6. Called-up share capital

| 31.03.2025
| £
Allotted, called-up and fully-paid |
100 Ordinary shares of £ 1.00 each | 100

On incorporation, 100 Ordinary £1.00 shares were issued and allotted at par.

#### 7. Related party transactions

Included within amounts owed by group undertakings is a balance of £60,070 due from a fellow subsidiary. This balance is unsecured and interest-free, with no fixed repayment terms.
Included within other debtors is a balance of £360 due from a company with shared directors. This balance is unsecured and interest free, with no fixed repayment terms.
Included within other creditors are balances of £137,500 due from certain shareholders. These balances are unsecured and interest free, with no fixed repayment terms.

#### 8. Ultimate controlling party

The Company is a subsidiary of Wimshurst Pelleriti 1 Ltd, a company registered in England and Wales. The ultimate parent undertaking is Wimshurst Pelleriti Ltd, a company registered in England and Wales.