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Company No: 12112742 (England and Wales)

THERMO-FIX LTD

Unaudited Financial Statements
For the financial period from 01 February 2024 to 31 August 2024
Pages for filing with the registrar

THERMO-FIX LTD

Unaudited Financial Statements

For the financial period from 01 February 2024 to 31 August 2024

Contents

THERMO-FIX LTD

BALANCE SHEET

As at 31 August 2024
THERMO-FIX LTD

BALANCE SHEET (continued)

As at 31 August 2024
Note 31.08.2024 31.01.2024
£ £
Fixed assets
Tangible assets 3 12,317 14,837
12,317 14,837
Current assets
Stocks 4 12,200 12,000
Debtors 5 54,635 38,834
Cash at bank and in hand 0 4,252
66,835 55,086
Creditors: amounts falling due within one year 6 ( 67,411) ( 59,464)
Net current liabilities (576) (4,378)
Total assets less current liabilities 11,741 10,459
Creditors: amounts falling due after more than one year 7 ( 9,334) ( 11,334)
Provision for liabilities ( 2,324) ( 2,804)
Net assets/(liabilities) 83 ( 3,679)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 17 ) ( 3,779 )
Total shareholder's funds/(deficit) 83 ( 3,679)

For the financial period ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Thermo-Fix Ltd (registered number: 12112742) were approved and authorised for issue by the Director on 05 November 2024. They were signed on its behalf by:

Mr C P Smith
Director
THERMO-FIX LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 February 2024 to 31 August 2024
THERMO-FIX LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 February 2024 to 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Thermo-Fix Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom. The principal place of business is 39 Nursery Gardens, Chard, Somerset, TA20 1HJ.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. The company relies on the support of the director which is expected to continue, as such they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The company has shortened its accounting period to 31 August 2024 therefore the comparative information for the year ended 31 January 2024 is not wholly comparable.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 25 % reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

Period from
01.02.2024 to
31.08.2024
Year ended
31.01.2024
Number Number
Monthly average number of persons employed by the Company during the period, including the director 3 3

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 February 2024 6,022 22,150 28,172
At 31 August 2024 6,022 22,150 28,172
Accumulated depreciation
At 01 February 2024 3,644 9,691 13,335
Charge for the financial period 703 1,817 2,520
At 31 August 2024 4,347 11,508 15,855
Net book value
At 31 August 2024 1,675 10,642 12,317
At 31 January 2024 2,378 12,459 14,837

4. Stocks

31.08.2024 31.01.2024
£ £
Stocks 12,200 12,000

5. Debtors

31.08.2024 31.01.2024
£ £
Trade debtors 23,997 15,871
Accrued income 16,149 8,000
VAT recoverable 0 3,586
Other debtors 14,489 11,377
54,635 38,834

6. Creditors: amounts falling due within one year

31.08.2024 31.01.2024
£ £
Bank loans and overdrafts 8,905 8,000
Trade creditors 0 746
Amounts owed to director 41,678 36,364
Accruals 1,749 1,951
Corporation tax 11,870 10,120
Other taxation and social security 1,463 0
Other creditors 1,746 2,283
67,411 59,464

7. Creditors: amounts falling due after more than one year

31.08.2024 31.01.2024
£ £
Bank loans 9,334 11,334

There are no amounts included above in respect of which any security has been given by the small entity.