Was wondering if there was a way of saving the settings from this theme to the newest atahualpa theme or do I have to start again from scratch by configuring the new theme?

Thanks.

The theme version you mentioned does not appear to be Atahualpa so IS NOT an upgrade and WOULD NOT pick up the settings from Bytes for All 1.11.

If you use the MANUAL install for Atahualpa as described here you can install Atahualpa and switch back to your previous theme if you have any issues or think it will be too much work to get the same look and feel. Remember to backup as described in the upgrade instructions before starting.