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REGISTERED NUMBER: 04707100 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 March 2024

for

Thermal Systems Ltd

Thermal Systems Ltd (Registered number: 04707100)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thermal Systems Ltd

Company Information
For The Year Ended 31 March 2024







DIRECTORS: A R Collins
C H Simpkin





SECRETARY: P J O'Connell





REGISTERED OFFICE: 6 Georgian Close
Staines
Middlesex
TW18 4NR





REGISTERED NUMBER: 04707100 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

Thermal Systems Ltd (Registered number: 04707100)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,202 5,964

CURRENT ASSETS
Stocks 4,750 6,845
Debtors 5 176,179 120,254
Cash at bank and in hand 31,066 63,273
211,995 190,372
CREDITORS
Amounts falling due within one year 6 172,403 143,796
NET CURRENT ASSETS 39,592 46,576
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,794

52,540

CREDITORS
Amounts falling due after more than one
year

7

9,741

-
NET ASSETS 59,053 52,540

CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings 58,949 52,436
SHAREHOLDERS' FUNDS 59,053 52,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Thermal Systems Ltd (Registered number: 04707100)

Balance Sheet - continued
31 March 2024


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 4 October 2024 and were signed on its behalf by:




A R Collins - Director



C H Simpkin - Director


Thermal Systems Ltd (Registered number: 04707100)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Thermal Systems 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 represents the net invoiced value of goods and services supplied, excluding value added tax. Turnover is recognised when work is completed and the customer is invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvements - 20% on cost
Plant and machinery - 33% on cost
Office furniture & equipment - 33% on cost and 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation represents the sum of tax currently payable, and deferred tax if material.

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, where material, is recognised on all 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. 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.

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 Systems Ltd (Registered number: 04707100)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Office
Leasehold Plant and furniture
Improvements machinery & equipment
£    £    £   
COST
At 1 April 2023 68,626 22,815 16,626
Additions - - -
Disposals - - -
At 31 March 2024 68,626 22,815 16,626
DEPRECIATION
At 1 April 2023 68,626 22,815 15,283
Charge for year - - 1,343
Eliminated on disposal - - -
At 31 March 2024 68,626 22,815 16,626
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - 1,343

Thermal Systems Ltd (Registered number: 04707100)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 23,035 22,655 153,757
Additions 31,725 - 31,725
Disposals (23,035 ) - (23,035 )
At 31 March 2024 31,725 22,655 162,447
DEPRECIATION
At 1 April 2023 18,414 22,655 147,793
Charge for year 4,778 - 6,121
Eliminated on disposal (20,669 ) - (20,669 )
At 31 March 2024 2,523 22,655 133,245
NET BOOK VALUE
At 31 March 2024 29,202 - 29,202
At 31 March 2023 4,621 - 5,964

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 139,900 80,588
Other debtors 15,000 -
Prepayments and accrued income 21,279 24,666
176,179 105,254

Amounts falling due after more than one year:
Other debtors - 15,000

Aggregate amounts 176,179 120,254

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 3,806 -
Trade creditors 46,719 37,764
Corporation tax 27,104 25,764
Social security and other taxes 2,906 1,505
VAT 25,747 33,943
Directors' current accounts 15,000 12,000
Accrued expenses 51,121 32,820
172,403 143,796

Thermal Systems Ltd (Registered number: 04707100)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 9,741 -