Acorah Software Products - Accounts Production 16.2.850 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 02925520 Mr Thomas Brumwell Mr Trevor Dann Mr Mathew Brumwell Mr Thomas Brumwell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02925520 2023-11-30 02925520 2024-11-30 02925520 2023-12-01 2024-11-30 02925520 frs-core:CurrentFinancialInstruments 2024-11-30 02925520 frs-core:Non-currentFinancialInstruments 2024-11-30 02925520 frs-core:ComputerEquipment 2024-11-30 02925520 frs-core:ComputerEquipment 2023-12-01 2024-11-30 02925520 frs-core:ComputerEquipment 2023-11-30 02925520 frs-core:FurnitureFittings 2024-11-30 02925520 frs-core:FurnitureFittings 2023-12-01 2024-11-30 02925520 frs-core:FurnitureFittings 2023-11-30 02925520 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-11-30 02925520 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 02925520 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 02925520 frs-core:MotorVehicles 2024-11-30 02925520 frs-core:MotorVehicles 2023-12-01 2024-11-30 02925520 frs-core:MotorVehicles 2023-11-30 02925520 frs-core:PlantMachinery 2024-11-30 02925520 frs-core:PlantMachinery 2023-12-01 2024-11-30 02925520 frs-core:PlantMachinery 2023-11-30 02925520 frs-core:OtherReservesSubtotal 2024-11-30 02925520 frs-core:ShareCapital 2024-11-30 02925520 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 02925520 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 02925520 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 02925520 frs-bus:SmallEntities 2023-12-01 2024-11-30 02925520 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 02925520 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 02925520 frs-bus:OrdinaryShareClass1 2023-12-01 2024-11-30 02925520 frs-bus:OrdinaryShareClass1 2024-11-30 02925520 frs-bus:Director1 2023-12-01 2024-11-30 02925520 frs-bus:Director2 2023-12-01 2024-11-30 02925520 frs-bus:Director3 2023-12-01 2024-11-30 02925520 frs-bus:CompanySecretary1 2023-12-01 2024-11-30 02925520 frs-countries:EnglandWales 2023-12-01 2024-11-30 02925520 2022-11-30 02925520 2023-11-30 02925520 2022-12-01 2023-11-30 02925520 frs-core:CurrentFinancialInstruments 2023-11-30 02925520 frs-core:Non-currentFinancialInstruments 2023-11-30 02925520 frs-core:OtherReservesSubtotal 2023-11-30 02925520 frs-core:ShareCapital 2023-11-30 02925520 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 02925520 frs-bus:OrdinaryShareClass1 2022-12-01 2023-11-30
Registered number: 02925520
Thermozone Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Ben Elliott Accounting Ltd
51 Field Drive
Shirebrook
Mansfield
Notts
NG20 8BT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02925520
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 788,449 807,857
788,449 807,857
CURRENT ASSETS
Stocks 5 - 20,000
Debtors 6 41,060 264,778
Cash at bank and in hand 343,337 56,783
384,397 341,561
Creditors: Amounts Falling Due Within One Year 7 (849,633 ) (968,198 )
NET CURRENT ASSETS (LIABILITIES) (465,236 ) (626,637 )
TOTAL ASSETS LESS CURRENT LIABILITIES 323,213 181,220
Creditors: Amounts Falling Due After More Than One Year 8 (126,158 ) (29,599 )
NET ASSETS 197,055 151,621
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Other reserves (133,641 ) (133,641 )
Profit and Loss Account 329,696 284,262
SHAREHOLDERS' FUNDS 197,055 151,621
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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
Mr Thomas Brumwell
Director
7th April 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Thermozone Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02925520 . The registered office is Kelvin House, Preston Road, Reading, Berkshire, RG2 0BE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Freehold 2% Straight line
Plant & Machinery 15% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 15% Reducing balance
Computer Equipment 25% Reducing balance
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.
Page 3
Page 4
2.5. 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.
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 4
Manufacturing 7 11
11 15
Page 4
Page 5
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2023 800,000 52,051 120,302 661
As at 30 November 2024 800,000 52,051 120,302 661
Depreciation
As at 1 December 2023 16,267 32,588 118,294 641
Provided during the period 16,268 2,429 590 3
As at 30 November 2024 32,535 35,017 118,884 644
Net Book Value
As at 30 November 2024 767,465 17,034 1,418 17
As at 1 December 2023 783,733 19,463 2,008 20
Computer Equipment Total
£ £
Cost
As at 1 December 2023 27,274 1,000,288
As at 30 November 2024 27,274 1,000,288
Depreciation
As at 1 December 2023 24,641 192,431
Provided during the period 118 19,408
As at 30 November 2024 24,759 211,839
Net Book Value
As at 30 November 2024 2,515 788,449
As at 1 December 2023 2,633 807,857
5. Stocks
2024 2023
£ £
Materials - 20,000
Over the past two years corrections have been made to stock that has been held and gradually written-off due to now obsolete items and the realisation that trading conditions make it uncertain about selling these now obsolete items.
Page 5
Page 6
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 41,060 263,778
Other taxes and social security - 1,000
41,060 264,778
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 27,616 192,629
Bank loans and overdrafts 286,292 286,337
Corporation tax 17,856 894
VAT - 5,755
Directors' loan accounts 517,914 482,583
Amounts owed to related parties (45 ) -
849,633 968,198
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,900 29,600
Amounts owed to related parties 98,258 (1 )
126,158 29,599
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1 each 1,000 1,000
10. Related Party Transactions
Page 6