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REGISTERED NUMBER: 13673552 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Thermal Audio Ltd

Thermal Audio Ltd (Registered number: 13673552)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thermal Audio Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mr D White





REGISTERED OFFICE: The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR





REGISTERED NUMBER: 13673552 (England and Wales)





ACCOUNTANTS: DSCO
The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR

Thermal Audio Ltd (Registered number: 13673552)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,200 9,600
Tangible assets 5 7,894 4,382
15,094 13,982

CURRENT ASSETS
Debtors 6 1,254 7,747
Cash at bank 26,369 15,092
27,623 22,839
CREDITORS
Amounts falling due within one year 7 31,269 31,086
NET CURRENT LIABILITIES (3,646 ) (8,247 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,448

5,735

PROVISIONS FOR LIABILITIES 8 1,500 833
NET ASSETS 9,948 4,902

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 9,848 4,802
SHAREHOLDERS' FUNDS 9,948 4,902

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

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

The director acknowledges his 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 Audio Ltd (Registered number: 13673552)

Balance Sheet - continued
31 October 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 director and authorised for issue on 18 January 2024 and were signed by:





Mr D White - Director


Thermal Audio Ltd (Registered number: 13673552)

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

1. STATUTORY INFORMATION

Thermal Audio Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 5% on reducing balance
Computer equipment - 33% on 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
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.

Thermal Audio Ltd (Registered number: 13673552)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 12,000
AMORTISATION
At 1 November 2022 2,400
Amortisation for year 2,400
At 31 October 2023 4,800
NET BOOK VALUE
At 31 October 2023 7,200
At 31 October 2022 9,600

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 November 2022 3,120 2,117 5,237
Additions 4,589 - 4,589
At 31 October 2023 7,709 2,117 9,826
DEPRECIATION
At 1 November 2022 156 699 855
Charge for year 378 699 1,077
At 31 October 2023 534 1,398 1,932
NET BOOK VALUE
At 31 October 2023 7,175 719 7,894
At 31 October 2022 2,964 1,418 4,382

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 750 7,250
Prepayments 504 497
1,254 7,747

Thermal Audio Ltd (Registered number: 13673552)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors - 119
Tax 9,261 10,951
Social security and other taxes 13 -
Directors' current accounts 21,896 19,917
Accrued expenses 99 99
31,269 31,086

8. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 1,500 833

Deferred
tax
£   
Balance at 1 November 2022 833
Accelerated capital allowances 667
Balance at 31 October 2023 1,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary shares £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 November 2022 4,802
Profit for the year 40,046
Dividends (35,000 )
At 31 October 2023 9,848

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £35,000 (2022 - £43,000) were paid to the director .