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REGISTERED NUMBER: 13673552 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Thermal Audio Ltd

Thermal Audio Ltd (Registered number: 13673552)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thermal Audio Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Mr D White





REGISTERED OFFICE: The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR





REGISTERED NUMBER: 13673552 (England and Wales)





ACCOUNTANTS: DSCO
The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR

Thermal Audio Ltd (Registered number: 13673552)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,800 7,200
Tangible assets 5 7,275 7,894
12,075 15,094

CURRENT ASSETS
Debtors 6 6,746 1,254
Cash at bank 17,716 26,369
24,462 27,623
CREDITORS
Amounts falling due within one year 7 17,004 31,269
NET CURRENT ASSETS/(LIABILITIES) 7,458 (3,646 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,533

11,448

PROVISIONS FOR LIABILITIES 8 1,382 1,500
NET ASSETS 18,151 9,948

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 18,051 9,848
SHAREHOLDERS' FUNDS 18,151 9,948

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Audio Ltd (Registered number: 13673552)

Balance Sheet - continued
31 October 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 director and authorised for issue on 13 March 2025 and were signed by:





Mr D White - Director


Thermal Audio Ltd (Registered number: 13673552)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Thermal Audio 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 5% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Thermal Audio Ltd (Registered number: 13673552)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 12,000
AMORTISATION
At 1 November 2023 4,800
Amortisation for year 2,400
At 31 October 2024 7,200
NET BOOK VALUE
At 31 October 2024 4,800
At 31 October 2023 7,200

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 November 2023 7,709 2,117 9,826
Additions 1,400 522 1,922
Disposals (1,285 ) (104 ) (1,389 )
At 31 October 2024 7,824 2,535 10,359
DEPRECIATION
At 1 November 2023 534 1,398 1,932
Charge for year 364 788 1,152
At 31 October 2024 898 2,186 3,084
NET BOOK VALUE
At 31 October 2024 6,926 349 7,275
At 31 October 2023 7,175 719 7,894

Thermal Audio Ltd (Registered number: 13673552)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 5,070 750
Other debtors 1,676 504
6,746 1,254

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Taxation and social security 10,940 9,274
Other creditors 6,064 21,995
17,004 31,269

8. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax 1,382 1,500

Deferred
tax
£   
Balance at 1 November 2023 1,500
Accelerated capital allowances (118 )
Balance at 31 October 2024 1,382

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary shares £1 100 100