Unitherm UK Limited 13018983 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of plumbing, heat and air-conditioning installation. Digita Accounts Production Advanced 6.30.9574.0 true true 13018983 2024-01-01 2024-12-31 13018983 2024-12-31 13018983 bus:Consolidated 2024-12-31 13018983 core:RetainedEarningsAccumulatedLosses 2024-12-31 13018983 core:ShareCapital 2024-12-31 13018983 core:CurrentFinancialInstruments 2024-12-31 13018983 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 13018983 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 13018983 core:BetweenTwoFiveYears 2024-12-31 13018983 core:MoreThanFiveYears 2024-12-31 13018983 core:WithinOneYear 2024-12-31 13018983 core:FurnitureFittingsToolsEquipment 2024-12-31 13018983 core:OtherPropertyPlantEquipment 2024-12-31 13018983 bus:SmallEntities 2024-01-01 2024-12-31 13018983 bus:Audited 2024-01-01 2024-12-31 13018983 bus:FilletedAccounts 2024-01-01 2024-12-31 13018983 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13018983 bus:RegisteredOffice 2024-01-01 2024-12-31 13018983 bus:Director3 2024-01-01 2024-12-31 13018983 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13018983 core:ComputerEquipment 2024-01-01 2024-12-31 13018983 core:FurnitureFittings 2024-01-01 2024-12-31 13018983 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 13018983 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 13018983 core:PlantMachinery 2024-01-01 2024-12-31 13018983 countries:EnglandWales 2024-01-01 2024-12-31 13018983 2023-12-31 13018983 core:FurnitureFittingsToolsEquipment 2023-12-31 13018983 core:OtherPropertyPlantEquipment 2023-12-31 13018983 2023-01-01 2023-12-31 13018983 2023-12-31 13018983 core:RetainedEarningsAccumulatedLosses 2023-12-31 13018983 core:ShareCapital 2023-12-31 13018983 core:CurrentFinancialInstruments 2023-12-31 13018983 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13018983 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 13018983 core:BetweenTwoFiveYears 2023-12-31 13018983 core:MoreThanFiveYears 2023-12-31 13018983 core:WithinOneYear 2023-12-31 13018983 core:FurnitureFittingsToolsEquipment 2023-12-31 13018983 core:OtherPropertyPlantEquipment 2023-12-31 iso4217:GBP xbrli:pure

Unitherm UK Limited

Annual Report and Financial Statements
Year Ended 31 December 2024

Registration number: 13018983

 

Unitherm UK Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Unitherm UK Limited

Balance Sheet

31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

44,422

54,431

Current assets

 

Stocks

5

1,641,206

1,052,679

Debtors

6

1,346,319

958,218

Cash at bank and in hand

 

40,727

516,032

 

3,028,252

2,526,929

Creditors: Amounts falling due within one year

7

(1,209,130)

(2,446,382)

Net current assets

 

1,819,122

80,547

Total assets less current liabilities

 

1,863,544

134,978

Creditors: Amounts falling due after more than one year

7

(1,539,435)

-

Provisions for liabilities

(6,565)

(8,071)

Net assets

 

317,544

126,907

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

317,444

126,807

Shareholders' funds

 

317,544

126,907

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 May 2025 and signed on its behalf by:
 

.........................................
Andy Hooper
Director

Company Registration Number: 13018983

 

Unitherm UK Limited

Notes to the Financial Statements

Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Units C1 & C2 Sanderling Court
Osprey Road
Sowton Industrial Estate
Exeter
Devon
EX2 7PJ
United Kingdom

These financial statements were authorised for issue by the Board on 19 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

Management have prepared a budget and forecasts using all available information and considered the various funding arrangements available, including financial support from group companies. The company is reliant on the continued financial, and non financial support of group companies. Based on the consideration of these matters, the Directors believe it is appropriate to prepare the financial statements on the basis that the company is a going concern, as they have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future, being at least 12 months from the approval of these financial statements. The group companies are not expected to withdraw thier support for the foreseeable future and the Directors have sought assurances over this.

 

Unitherm UK Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Revenue recognition

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 and after eliminating sales within the company.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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 corporation 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 is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred 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 assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

3-5 years straight line

Fixtures and fittings

3-10 years straight line

 

Unitherm UK Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Computer equipment

3-5 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of goods for resale comprise direct material costs and associated costs in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances; and
• Balances with group undertakings.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

 

Unitherm UK Limited

Notes to the Financial Statements

Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 11).

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

101,166

13,696

114,862

Additions

10,210

-

10,210

At 31 December 2024

111,376

13,696

125,072

Depreciation

At 1 January 2024

53,959

6,472

60,431

Charge for the year

17,418

2,801

20,219

At 31 December 2024

71,377

9,273

80,650

Carrying amount

At 31 December 2024

39,999

4,423

44,422

At 31 December 2023

47,207

7,224

54,431

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

1,641,206

1,052,679

6

Debtors

2024
£

2023
£

Trade debtors

1,197,004

916,563

Prepayments

63,589

41,655

Other debtors

85,726

-

1,346,319

958,218

 

Unitherm UK Limited

Notes to the Financial Statements

Year Ended 31 December 2024

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

1,041,989

288,814

Other creditors

378

304

Amounts owed to group undertakings

16,871

1,917,289

Taxation and social security

57,276

195,225

Corporation tax

51,553

25,183

Accruals and deferred income

41,063

19,567

1,209,130

2,446,382

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Amounts owed to group undertakings

1,539,435

-

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Share capital of £1 each

100

100

100

100

       

9

Obligations under operating leases

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

109,572

110,765

Later than one year and not later than five years

143,985

153,415

Later than five years

28,523

49,914

282,080

314,094

The amount of non-cancellable operating lease payments recognised as an expense during the year was £130,788 (2023 - £98,245).

 

Unitherm UK Limited

Notes to the Financial Statements

Year Ended 31 December 2024

10

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Tom Beable (FCA), who signed for and on behalf of PKF Francis Clark on 19 May 2025.

11

Parent and ultimate parent undertaking

The company's immediate parent is Unitherm Heating Systems Limited, incorporated in Ireland.

The ultimate controlling party was Unitherm Heating Systems Limited untill 30 September 2024. After this date the ultimate controlling party was Apollo Global Management, Inc.