Caseware UK (AP4) 2021.0.152 2021.0.152 2021-10-312021-10-31true22020-11-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 3259965 2020-11-01 2021-10-31 3259965 2019-11-01 2020-10-31 3259965 2021-10-31 3259965 2020-10-31 3259965 1 2020-11-01 2021-10-31 3259965 d:Director1 2020-11-01 2021-10-31 3259965 c:Buildings c:LongLeaseholdAssets 2021-10-31 3259965 c:Buildings c:LongLeaseholdAssets 2020-10-31 3259965 c:CurrentFinancialInstruments 2021-10-31 3259965 c:CurrentFinancialInstruments 2020-10-31 3259965 c:Non-currentFinancialInstruments 2021-10-31 3259965 c:Non-currentFinancialInstruments 2020-10-31 3259965 c:CurrentFinancialInstruments c:WithinOneYear 2021-10-31 3259965 c:CurrentFinancialInstruments c:WithinOneYear 2020-10-31 3259965 c:Non-currentFinancialInstruments c:AfterOneYear 2021-10-31 3259965 c:Non-currentFinancialInstruments c:AfterOneYear 2020-10-31 3259965 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2021-10-31 3259965 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2020-10-31 3259965 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2021-10-31 3259965 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2020-10-31 3259965 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2021-10-31 3259965 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2020-10-31 3259965 c:ShareCapital 2021-10-31 3259965 c:ShareCapital 2020-10-31 3259965 c:RevaluationReserve 2021-10-31 3259965 c:RevaluationReserve 2020-10-31 3259965 c:RetainedEarningsAccumulatedLosses 2021-10-31 3259965 c:RetainedEarningsAccumulatedLosses 2020-10-31 3259965 d:OrdinaryShareClass1 2020-11-01 2021-10-31 3259965 d:OrdinaryShareClass1 2021-10-31 3259965 d:OrdinaryShareClass1 2020-10-31 3259965 d:FRS102 2020-11-01 2021-10-31 3259965 d:AuditExempt-NoAccountantsReport 2020-11-01 2021-10-31 3259965 d:FullAccounts 2020-11-01 2021-10-31 3259965 d:PrivateLimitedCompanyLtd 2020-11-01 2021-10-31 3259965 c:OtherDeferredTax 2021-10-31 3259965 c:OtherDeferredTax 2020-10-31 3259965 2 2020-11-01 2021-10-31 3259965 6 2020-11-01 2021-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 3259965









THERMOENGAGE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2021

 
THERMOENGAGE LIMITED
REGISTERED NUMBER: 3259965

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,250,000
3,250,000

Investments
 5 
5,950
5,950

  
3,255,950
3,255,950

Current assets
  

Debtors: amounts falling due after more than one year
 7 
101,030
97,292

Debtors: amounts falling due within one year
 7 
399,990
389,679

Cash at bank and in hand
 8 
76,684
2,705

  
577,704
489,676

Creditors: amounts falling due within one year
 9 
(860,931)
(135,087)

Net current (liabilities)/assets
  
 
 
(283,227)
 
 
354,589

Total assets less current liabilities
  
2,972,723
3,610,539

Creditors: amounts falling due after more than one year
 10 
(32,854)
(756,619)

Provisions for liabilities
  

Deferred tax
 12 
(415,666)
(415,666)

  
 
 
(415,666)
 
 
(415,666)

Net assets
  
2,524,203
2,438,254


Capital and reserves
  

Called up share capital 
 13 
2
2

Revaluation reserve
  
2,054,897
2,054,897

Profit and loss account
  
469,304
383,355

  
2,524,203
2,438,254


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

Page 1

 
THERMOENGAGE LIMITED
REGISTERED NUMBER: 3259965
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2021

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2022.




J S Jarman
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
THERMOENGAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

1.


General information

Thermoengage Limited is a private company limited by shares domiciled in England and Wales. The registered office is at Priory House, 45-51 High Street,Reigate, Surrey RH2 7JE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the financial resources available along with the future plans for the Company when considering the going concern of the Company. After making enquiries, the directors have a reasonable expectation that the Company will have access to adequate resources to continue in operational existence for the foreseeable future given the cash balance and net assets. Accordingly, they continue to adopt the going concern basis in the preparation of the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
THERMOENGAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

  
2.8

Investment properties

.Investment property is carried at fair value determined annually by the board of directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
THERMOENGAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Page 5

 
THERMOENGAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

4.


TANGIBLE FIXED ASSETS





Long Term Leasehold Properties

£



Cost or valuation


At 1 November 2020
3,250,000



At 31 October 2021

3,250,000






Net book value



At 31 October 2021
3,250,000



At 31 October 2020
3,250,000




The net book value of land and buildings may be further analysed as follows:


2021
2020
£
£

Long leasehold
3,250,000
3,250,000



5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 November 2020
5,950



At 31 October 2021
5,950




Page 6

 
THERMOENGAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

6.


Investment property




If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2021
2020
£
£


Historic cost
779,437
779,437


7.


Debtors

2021
2020
£
£

Due after more than one year

Other debtors
101,030
97,292


2021
2020
£
£

Due within one year

Trade debtors
12,662
15,203

Other debtors
387,328
372,627

Tax recoverable
-
1,849

399,990
389,679


Included within other debtors due within one year are loans to the following directors: J Jarman £262,539 ( 2020: £253,386). TRG Downes £113,963 (2020: £111,615). Both loans are repayable on demand and pay interest at 2.1042% per annum.
 


8.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
76,684
2,705


Page 7

 
THERMOENGAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

9.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
760,958
56,042

Trade creditors
22,066
18,795

Corporation tax
23,358
17,232

Other creditors
25,426
40

Accruals and deferred income
29,123
42,978

860,931
135,087



10.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
32,854
756,619



11.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
760,958
56,042

Amounts falling due 1-2 years

Bank loans
7,439
756,619

Amounts falling due 2-5 years

Bank loans
22,316
-

Amounts falling due after more than 5 years

Bank loans
3,099
-

793,812
812,661


The bank loans are secured on the company's long term leasehold properties.

Page 8

 
THERMOENGAGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

12.


Deferred taxation




2021


£






At beginning of year
415,666



At end of year
415,666

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Revaluation of investment properties
415,666
415,666


13.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



2 (2020 - 2) Ordinary shares of £1.00 each
2
2



14.


Transactions with directors

Details of loans to the directors are shown under note 7 Debtors.


15.


Investment properties reserve

This represents the surplus arising on the revaluation of the investment properties after providing for deferred taxation. The reserve is not available for distribution.


16.


Post balance sheet events

The bank loan of £756,619 which fell due on 13 December 2021 was renewed on 20 January 2022. The new loan is repayable over 120 equal monthly instalments at an interest rate of 6.12%.

 
Page 9