REGISTERED NUMBER: 13940917 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

THOR REFRIGERATION & AIR CONDITIONING

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J C Newland

L Mitchell

REGISTERED OFFICE:

Lothing House

7 Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

REGISTERED NUMBER:

13940917 (England and Wales)

ACCOUNTANTS:

Juler Tooke

Lothing House

Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

FIXED ASSETS

Tangible assets

4

38,842

5,922

CURRENT ASSETS

Stocks

7,000

-

Debtors

5

102,838

199,160

Cash at bank

234,008

84,731

343,846

283,891

CREDITORS

Amounts falling due within one year

6

(188,704

)

(221,351

)

NET CURRENT ASSETS

155,142

62,540

TOTAL ASSETS LESS CURRENT LIABILITIES

193,984

68,462

CREDITORS

Amounts falling due after more than one year

7

(27,171

)

-

PROVISIONS FOR LIABILITIES

8

(9,342

)

(1,125

)

NET ASSETS

157,471

67,337

CAPITAL AND RESERVES

Called up share capital

9

102

51

Retained earnings

10

157,369

67,286

SHAREHOLDERS' FUNDS

157,471

67,337

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

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

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 13 December 2024 and were signed on its behalf by:

J C Newland - Director

1.	STATUTORY INFORMATION

Thor Refrigeration & Air Conditioning Limited 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.

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 etc

-

20% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 8 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2023

7,080

Additions

42,324

At 31 July 2024

49,404

DEPRECIATION

At 1 August 2023

1,158

Charge for year

9,404

At 31 July 2024

10,562

NET BOOK VALUE

At 31 July 2024

38,842

At 31 July 2023

5,922

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade debtors

101,434

197,322

Other debtors

1,404

1,838

102,838

199,160

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade creditors

41,652

38,704

Taxation and social security

64,475

45,027

Other creditors

82,577

137,620

188,704

221,351

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.24

31.7.23

£

£

Hire purchase contracts

27,171

-

8.	PROVISIONS FOR LIABILITIES

31.7.24

31.7.23

£

£

Deferred tax

9,342

1,125

Deferred

tax

£

Balance at 1 August 2023

1,125

Provided during year

8,217

Balance at 31 July 2024

9,342

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.24

31.7.23

value:

£

£

100

Ordinary

£1

100

50

2

Ordinary "B" and "C"

£1

2

1

102

51

The following shares were allotted and fully paid for cash at par during the year:

50 Ordinary shares of £1 each

1 Ordinary "B" and "C" shares of £1 each

10.

RESERVES

Retained

earnings

£

At 1 August 2023

67,286

Profit for the year

140,083

Dividends

(50,000

)

At 31 July 2024

157,369