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Registered number: 14095630
Thermo Consulting Limited
Financial Statements
For The Year Ended 31 May 2024
William Price & Co
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14095630
31 May 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 48,302 55,056
48,302 55,056
CURRENT ASSETS
Debtors 4 13,957 395
Cash at bank and in hand 71,674 7,695
85,631 8,090
Creditors: Amounts Falling Due Within One Year 5 (41,103 ) (48,185 )
NET CURRENT ASSETS (LIABILITIES) 44,528 (40,095 )
TOTAL ASSETS LESS CURRENT LIABILITIES 92,830 14,961
NET ASSETS 92,830 14,961
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 92,730 14,861
SHAREHOLDERS' FUNDS 92,830 14,961
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For the year ending 31 May 2024 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
O V Parry
Director
20 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 4 years straight line
Motor Vehicles 8 years straight line
Fixtures & Fittings 4 years straight line
Computer Equipment 5 years straight line
1.4. Taxation
Income tax expense represents the sum of the tax currently payable 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 years 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.
Current 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 tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 2)
2 2
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3. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 1,460 59,190 693 2,062 63,405
Additions - - - 1,994 1,994
As at 31 May 2024 1,460 59,190 693 4,056 65,399
Depreciation
As at 1 June 2023 365 7,399 173 412 8,349
Provided during the period 365 7,399 173 811 8,748
As at 31 May 2024 730 14,798 346 1,223 17,097
Net Book Value
As at 31 May 2024 730 44,392 347 2,833 48,302
As at 1 June 2023 1,095 51,791 520 1,650 55,056
4. Debtors
31 May 2024 31 May 2023
£ £
Due within one year
Trade debtors 11,736 -
Prepayments and accrued income 2,221 395
13,957 395
5. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
VAT 6,792 -
Other creditors 32,014 46,985
Accruals and deferred income 2,297 1,200
41,103 48,185
6. Share Capital
31 May 2024 31 May 2023
£ £
Allotted, Called up and fully paid 100 100
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7. General Information
Thermo Consulting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14095630 . The registered office is Westbury Court Church Road, Westbury On Trym, Bristol, BS9 3EF.
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