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Registered number: 06303024
Thermo Electric Devices Limited
ABRIDGED Financial Statements
For The Year Ended 31 August 2024
SkyBridge Accounting Limited
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 06303024
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 369,190 386,507
369,190 386,507
CURRENT ASSETS
Stocks 313,084 313,084
Debtors 269,412 365,738
Cash at bank and in hand 440,179 368,533
1,022,675 1,047,355
Creditors: Amounts Falling Due Within One Year (459,565 ) (387,113 )
NET CURRENT ASSETS (LIABILITIES) 563,110 660,242
TOTAL ASSETS LESS CURRENT LIABILITIES 932,300 1,046,749
Creditors: Amounts Falling Due After More Than One Year (22,500 ) (32,528 )
NET ASSETS 909,800 1,014,221
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 909,700 1,014,121
SHAREHOLDERS' FUNDS 909,800 1,014,221
Page 1
Page 2
For the year ending 31 August 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 August 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Ian Ungless
Director
Stuart Ungless
Director
21 May 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Thermo Electric Devices Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06303024 . The registered office is Unit 1 Draycott Business Centre, Draycott, Gloucestershire, GL56 9JY.
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.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Leasehold 2% Straight Line
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% straight line
2.5. 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.
2.6. 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.
2.7. 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.

Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 3 3
Manufacturing 3 3
6 6
4. Intangible Assets
Total
£
Cost
As at 1 September 2023 629,000
As at 31 August 2024 629,000
Amortisation
As at 1 September 2023 629,000
As at 31 August 2024 629,000
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
5. Tangible Assets
Total
£
Cost
As at 1 September 2023 465,598
Additions 1,140
Disposals (648 )
As at 31 August 2024 466,090
Depreciation
As at 1 September 2023 79,091
Provided during the period 18,189
Disposals (380 )
As at 31 August 2024 96,900
Net Book Value
As at 31 August 2024 369,190
As at 1 September 2023 386,507
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4