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REGISTERED NUMBER: 01414038 (England and Wales)







Financial Statements for the Year Ended 31st March 2023

for

Thermaco Limited

Thermaco Limited (Registered number: 01414038)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Thermaco Limited

Company Information
for the Year Ended 31st March 2023







DIRECTORS: Grahame Bentley
Stuart Nicholas Read
Alan John Walker
Denise Ann Roper Bentley
Carole Lesley Read





SECRETARY: Heather Bucktin





REGISTERED OFFICE: Enigma Business Park
Sandy's Road
Malvern
Worcestershire
WR14 1JJ





REGISTERED NUMBER: 01414038 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Thermaco Limited (Registered number: 01414038)

Abridged Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,744 34,965

CURRENT ASSETS
Stocks 1,269,526 1,259,162
Debtors 1,084,137 891,254
Cash at bank and in hand 1,567,362 1,557,809
3,921,025 3,708,225
CREDITORS
Amounts falling due within one year 580,964 737,472
NET CURRENT ASSETS 3,340,061 2,970,753
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,389,805

3,005,718

PROVISIONS FOR LIABILITIES 9,451 6,643
NET ASSETS 3,380,354 2,999,075

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 3,380,254 2,998,975
SHAREHOLDERS' FUNDS 3,380,354 2,999,075

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th November 2023 and were signed on its behalf by:





Alan John Walker - Director


Thermaco Limited (Registered number: 01414038)

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

1. STATUTORY INFORMATION

Thermaco 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.

The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Fixtures and fittings - 20% on cost and 15% on reducing balance

Cost is defined as the purchase cost less any residual value. Depreciation is charged from the month of acquisition at the above rates.

The net book value of the assets is regularly reviewed by the directors and any further appropriate adjustments to carrying value are made.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

SHORT TERM DEBTORS AND CREDITORS
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in profit or loss.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Thermaco Limited (Registered number: 01414038)

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

2. ACCOUNTING POLICIES - continued

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution scheme for the majority of its employees. The pension costs charged against profits represent the amount of contributions payable to the schemes in respect of the accounting period.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2022 96,617
Additions 26,834
Disposals (999 )
At 31st March 2023 122,452
DEPRECIATION
At 1st April 2022 61,652
Charge for year 11,339
Eliminated on disposal (283 )
At 31st March 2023 72,708
NET BOOK VALUE
At 31st March 2023 49,744
At 31st March 2022 34,965

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 66,992 56,497
Between one and five years 102,399 133,333
169,391 189,830

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100