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REGISTERED NUMBER: 01916589 (England and Wales)















RECOTHERM LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






RECOTHERM LIMITED (REGISTERED NUMBER: 01916589)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RECOTHERM LIMITED

COMPANY INFORMATION
For The Year Ended 30 SEPTEMBER 2023







DIRECTORS: M Killen
Mrs M J Killen
J Harvey





REGISTERED OFFICE: Unit A, Astwood Business Park
Astwood Lane
Astwood Bank
Redditch
Worcestershire
B96 6HH





REGISTERED NUMBER: 01916589 (England and Wales)





ACCOUNTANTS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

RECOTHERM LIMITED (REGISTERED NUMBER: 01916589)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 120,728 50,125

CURRENT ASSETS
Stocks 173,064 170,555
Debtors 4 840,800 778,255
Cash at bank 55,156 101,982
1,069,020 1,050,792
CREDITORS
Amounts falling due within one year 5 399,761 427,998
NET CURRENT ASSETS 669,259 622,794
TOTAL ASSETS LESS CURRENT
LIABILITIES

789,987

672,919

CREDITORS
Amounts falling due after more than one year 6 (111,266 ) (77,483 )

PROVISIONS FOR LIABILITIES (27,886 ) (9,524 )
NET ASSETS 650,835 585,912

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 650,833 585,910
SHAREHOLDERS' FUNDS 650,835 585,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

RECOTHERM LIMITED (REGISTERED NUMBER: 01916589)

BALANCE SHEET - continued
30 SEPTEMBER 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 15 January 2024 and were signed on its behalf by:





M Killen - Director


RECOTHERM LIMITED (REGISTERED NUMBER: 01916589)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2023


1. 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 represents the value of services provided under contracts, to the extent that there is a right to consideration, and is recorded at the value of the consideration due. Turnover also represents the sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 25% on cost

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

RECOTHERM LIMITED (REGISTERED NUMBER: 01916589)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2023


1. ACCOUNTING POLICIES - continued

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 95,477
Additions 112,278
At 30 September 2023 207,755
DEPRECIATION
At 1 October 2022 45,352
Charge for year 41,675
At 30 September 2023 87,027
NET BOOK VALUE
At 30 September 2023 120,728
At 30 September 2022 50,125

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2022 52,821
Additions 90,727
At 30 September 2023 143,548
DEPRECIATION
At 1 October 2022 13,205
Charge for year 32,586
At 30 September 2023 45,791
NET BOOK VALUE
At 30 September 2023 97,757
At 30 September 2022 39,616

RECOTHERM LIMITED (REGISTERED NUMBER: 01916589)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2023


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 187,279 124,082
Amount due from group undertakings 610,857 610,861
Other debtors 42,664 43,312
840,800 778,255

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts - 12,016
Hire purchase contracts 38,793 13,161
Trade creditors 226,162 301,958
Taxation and social security 63,193 38,845
Other creditors 71,613 62,018
399,761 427,998

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts 86,266 37,483
Other creditors 25,000 40,000
111,266 77,483

7. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank loans - 12,016
CBIL loan 40,000 55,000
Hire purchase contracts 125,059 50,644
165,059 117,660

The company has given a fixed and floating charge over all its undertakings to its bankers, dated 19 January 2018.

The Coronavirus Business Interruption Loan benefits from a government guarantee.

8. ULTIMATE CONTROLLING PARTY

The controlling party is M Killen.