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REGISTERED NUMBER: 07438798 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Thermal Fluid Solutions Limited

Thermal Fluid Solutions Limited (Registered number: 07438798)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thermal Fluid Solutions Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R G J Franklin
Mrs S M Franklin
Dr A J Woodward





REGISTERED OFFICE: Hallsteads
Dove Holes
Derbyshire
SK17 8BJ





REGISTERED NUMBER: 07438798 (England and Wales)





ACCOUNTANTS: DLA Chartered Accountants
36A Market Street
New Mills
High Peak
SK22 4AA

Thermal Fluid Solutions Limited (Registered number: 07438798)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,094 80,417

CURRENT ASSETS
Stocks 19,947 -
Debtors 5 553,428 593,975
Cash at bank 233,503 40,259
806,878 634,234
CREDITORS
Amounts falling due within one year 6 450,848 340,083
NET CURRENT ASSETS 356,030 294,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

441,124

374,568

CREDITORS
Amounts falling due after more than one
year

7

(105,806

)

(167,900

)

PROVISIONS FOR LIABILITIES (16,168 ) (15,279 )
NET ASSETS 319,150 191,389

CAPITAL AND RESERVES
Called up share capital 380 380
Capital redemption reserve 150 150
Retained earnings 318,620 190,859
SHAREHOLDERS' FUNDS 319,150 191,389

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Thermal Fluid Solutions Limited (Registered number: 07438798)

Balance Sheet - continued
31 March 2023


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 November 2023 and were signed on its behalf by:




R G J Franklin - Director



Mrs S M Franklin - Director


Thermal Fluid Solutions Limited (Registered number: 07438798)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Thermal Fluid Solutions Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

Thermal Fluid Solutions Limited (Registered number: 07438798)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 341,924 - 9,239 351,163
Additions 19,299 200 1,280 20,779
At 31 March 2023 361,223 200 10,519 371,942
DEPRECIATION
At 1 April 2022 263,099 - 7,647 270,746
Charge for year 14,855 40 1,207 16,102
At 31 March 2023 277,954 40 8,854 286,848
NET BOOK VALUE
At 31 March 2023 83,269 160 1,665 85,094
At 31 March 2022 78,825 - 1,592 80,417

5. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 246,467 278,143
Sundry debtors 581 581
247,048 278,724

Amounts falling due after more than one year:
Other debtors 306,380 315,251

Aggregate amounts 553,428 593,975

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other loan 62,094 82,347
Trade creditors 275,776 172,417
Tax 39,067 45,024
Social security and other taxes 5,746 5,469
VAT 36,864 17,042
Factoring loan - (25,966 )
Other creditors 29,007 40,615
Pension Control 2,246 2,030
Directors' current accounts 48 1,105
450,848 340,083

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Other loan - 1-2 years 68,732 62,094
Other loans - 2-5 years 37,074 105,806
105,806 167,900

Thermal Fluid Solutions Limited (Registered number: 07438798)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £306,380 (2022: £315,251) owed to the company by Heat Transfer Systems Limited, a company under the control of the directors Mr R G Franklin & Mrs S M Franklin.
Included in other creditors is an amount of £29,007 (2022: £40,615) owed by the company to Thermal Fluid Impact Limited, a company under the control of the directors Mr R G Franklin & Mrs S M Franklin.