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Registered number: 2839280
Thermobile UK Limited
Financial Statements
For The Year Ended 31 December 2024
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 2839280
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,846 5,288
18,846 5,288
CURRENT ASSETS
Stocks 609,817 625,294
Debtors 5 1,044,092 872,356
Cash at bank and in hand 603,278 606,329
2,257,187 2,103,979
Creditors: Amounts Falling Due Within One Year 6 (944,887 ) (775,465 )
NET CURRENT ASSETS (LIABILITIES) 1,312,300 1,328,514
TOTAL ASSETS LESS CURRENT LIABILITIES 1,331,146 1,333,802
NET ASSETS 1,331,146 1,333,802
CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Profit and Loss Account 1,231,146 1,233,802
SHAREHOLDERS' FUNDS 1,331,146 1,333,802
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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
Miss Juliette Mary Ann Honing
Director
5th March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Thermobile UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 2839280 . The registered office is 12 Buckingham Close, Bermuda Industrial Estate, Nuneaton, CV10 7JT.
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.
2.3. 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 20% - 25% Straight Line
Motor Vehicles 25% Straight Line
Computer Equipment 50% Straight Line
2.4. 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.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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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. 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.
2.8. Leasing commitments
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
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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 as follows:
2024 2023
Office and administration 10 10
10 10
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2024 194,191 14,317 208,508
Additions 21,272 - 21,272
As at 31 December 2024 215,463 14,317 229,780
Depreciation
As at 1 January 2024 188,904 14,316 203,220
Provided during the period 7,714 - 7,714
As at 31 December 2024 196,618 14,316 210,934
Net Book Value
As at 31 December 2024 18,845 1 18,846
As at 1 January 2024 5,287 1 5,288
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 959,745 766,440
Other debtors 84,347 105,916
1,044,092 872,356
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 229,713 124,704
Corporation tax 94,717 94,479
Other taxes and social security 271,618 231,446
Other creditors 25,147 22,140
Amounts owed to group undertakings 323,692 302,696
944,887 775,465
7. Other Commitments
The total of future minimum lease payments under operating leases are as following:
2024 2023
£ £
Later than one year and not later than five years 62,000 48,000
62,000 48,000
8. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
9. Ultimate Parent Undertaking and Controlling Party
The ultimate parent company is Thermobile Industries Holding BV, a company incorporated in Konijnenberg 80, 4825 BD Breda, Holland, Netherlands.
10. Audit Information
The auditor's report on the accounts of Thermobile UK Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Mr M I Umar (Senior Statutory Auditor) for and on behalf of Smith Hannah , Statutory Auditor.
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