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Registered number: 05699418
Thermofluidics Ltd.
Unaudited Financial Statements
For The Year Ended 28 February 2025
Modus Accountants Ltd
Unit 1c Church Green
Witney
OX28 4YR
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 05699418
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,808 3,428
Investments 5 312 222
2,120 3,650
CURRENT ASSETS
Debtors 6 47,252 72,220
Cash at bank and in hand 16,075 88,373
63,327 160,593
Creditors: Amounts Falling Due Within One Year 7 (45,392 ) (23,142 )
NET CURRENT ASSETS (LIABILITIES) 17,935 137,451
TOTAL ASSETS LESS CURRENT LIABILITIES 20,055 141,101
NET ASSETS 20,055 141,101
CAPITAL AND RESERVES
Called up share capital 8 222 222
Profit and Loss Account 19,833 140,879
SHAREHOLDERS' FUNDS 20,055 141,101
For the year ending 28 February 2025 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
M Bryant
Director
6 June 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Thermofluidics Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 05699418 . The registered office is Unit 1c, Eagle Industrial Estate, Chruch Green, Witney, Oxfordshire, OX28 4YR.
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. 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:
Plant & Machinery 25% reducing balance basis
Fixtures & Fittings 25% straight line basis
2.3. 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.
2.4. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.5. 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.
Page 2
Page 3
2.6. Investments
Investments in equity shares which are publicly traded or where fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. 
Dividends on equity securities are recognised in income when receivable.
2.7. Research and development
Expenditure on research and development is written off in the year in which it is incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2024 18,997 12,024 31,021
Disposals (5,816 ) (12,024 ) (17,840 )
As at 28 February 2025 13,181 - 13,181
Depreciation
As at 1 March 2024 15,569 12,024 27,593
Provided during the period 708 - 708
Disposals (4,904 ) (12,024 ) (16,928 )
As at 28 February 2025 11,373 - 11,373
Net Book Value
As at 28 February 2025 1,808 - 1,808
As at 1 March 2024 3,428 - 3,428
5. Investments
Unlisted
£
Cost
As at 1 March 2024 222
Additions 90
As at 28 February 2025 312
Provision
As at 1 March 2024 -
As at 28 February 2025 -
Net Book Value
As at 28 February 2025 312
As at 1 March 2024 222
The above investment relates to shares in wholly-owned subsidiaries Impact Pumps Limited and Blue Tap Solutions Limited.
Page 3
Page 4
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 47,252 72,220
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 4,328 6,378
Amounts owed to group undertakings 33,121 -
Other creditors 6,638 15,472
Taxation and social security 1,305 1,292
45,392 23,142
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 222 222
Page 4