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Registered number: 05820640
Thermokil Insect Control Services Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Barclay-Stretton Accountants
Members of the Institute of Financial Accountants
Barclay House
35 Borough Road
Burton on Trent
Staffordshire
DE14 2DA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05820640
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 101,294 45,490
101,294 45,490
CURRENT ASSETS
Stocks 5 11,033 9,864
Debtors 6 366,823 218,437
Investments 7 10,050 10,050
Cash at bank and in hand 176,451 112,770
564,357 351,121
Creditors: Amounts Falling Due Within One Year 8 (301,887 ) (154,808 )
NET CURRENT ASSETS (LIABILITIES) 262,470 196,313
TOTAL ASSETS LESS CURRENT LIABILITIES 363,764 241,803
Creditors: Amounts Falling Due After More Than One Year 9 (41,516 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (22,809 ) (8,643 )
NET ASSETS 299,439 233,160
CAPITAL AND RESERVES
Called up share capital 12 100 100
Share premium account 4,851 4,851
Profit and Loss Account 294,488 228,209
SHAREHOLDERS' FUNDS 299,439 233,160
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Ayers
Director
24/07/2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Thermokil Insect Control Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05820640 . The registered office is Suite 2b, Birch House, Ransom Wood Business Park, Southwell Road West, Mansfield, Nottinghamshire, NG21 0HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 4 4
Sales, marketing and distribution 13 8
17 12
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2022 129,408 9,500 138,908
Additions 28,241 85,082 113,323
Disposals - (28,800 ) (28,800 )
As at 31 October 2023 157,649 65,782 223,431
Depreciation
As at 1 November 2022 88,372 5,046 93,418
Provided during the period 17,319 16,447 33,766
Disposals - (5,047 ) (5,047 )
As at 31 October 2023 105,691 16,446 122,137
Net Book Value
As at 31 October 2023 51,958 49,336 101,294
As at 1 November 2022 41,036 4,454 45,490
5. Stocks
2023 2022
£ £
Materials 11,033 9,864
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 336,873 200,058
Prepayments and accrued income 26,189 18,379
Other debtors 29 -
Property deposit 3,610 -
Directors' loan accounts 122 -
366,823 218,437
7. Current Asset Investments
2023 2022
£ £
Unlisted investments 10,050 10,050
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 101,885 43,456
Corporation tax 49,069 25,132
Other taxes and social security 13,183 8,863
VAT 83,244 56,892
Pensions 3,409 2,002
Attachment of earnings orders - 50
Hire purchase short term 20,954 -
Accruals and deferred income 30,143 18,413
301,887 154,808
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Hire purchase long term 41,516 -
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 22,809 8,643
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 November 2022 8,643 8,643
Additions 14,166 14,166
Balance at 31 October 2023 22,809 22,809
12. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Mr Michael Ayers - 122 - - 122
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
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2023 2022
£ £
Mr Michael Ayers 96,000 64,000
Mr Ryan Overton 15,000 -
Mr Ryan Overton - 10,000
14. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 150,000 100,000
15. Related Party Transactions
Precision Pest Management Solutions LtdAssociated by a common beneficial ownerSales to the above associate in the year were £27,478 (2022 £nil).

Precision Pest Management Solutions Ltd

Associated by a common beneficial owner

Sales to the above associate in the year were £27,478 (2022 £nil).

All sales and purchases stated above are excluding value added tax and were at arms length ie priced at normal market levels.
16. Ultimate Controlling Party
The company's ultimate controlling party is M Ayers by virtue of his ownership of 64% of the issued share capital in the company.
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