Company registration number 08506980 (England and Wales)
AEROTHERMAL GROUP HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
AEROTHERMAL GROUP HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AEROTHERMAL GROUP HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
1,211,284
1,211,164
Cash at bank and in hand
129
6,789
1,211,413
1,217,953
Creditors: amounts falling due within one year
5
(1,234,192)
(1,239,066)
Net current liabilities
(22,779)
(21,113)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(22,879)
(21,213)
Total equity
(22,779)
(21,113)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
Mrs K Toll
Director
Company Registration No. 08506980
AEROTHERMAL GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
AeroThermal Group Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Secure House, Lulworth Close, Chandlers Ford, Eastleigh, Hampshire, United Kingdom, SO53 3TL. The principal place of business is 6 Dawkins Road, Poole, United Kingdom, BH15 4JY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements have been prepared on a going concern basis. The directors have received confirmation of continued support from related companies to enable the company to meet its debts over the next 12 months as they fall due.
The directors, having considered the financial position of the company for a period of at least twelve months from the date of signing these financial statements have no reason to believe that a material uncertainty exists that may cause doubt about the ability of the company to continue as a going concern.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. The company considers all its financial instruments to be basic.
AEROTHERMAL GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.6
The company is part of a small group. The group has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
AEROTHERMAL GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
3
Tangible fixed assets
Office equipment
£
Cost
At 1 October 2023
1,176
Disposals
(1,176)
At 30 September 2024
Depreciation and impairment
At 1 October 2023
1,176
Eliminated in respect of disposals
(1,176)
At 30 September 2024
Carrying amount
At 30 September 2024
At 30 September 2023
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,211,164
1,211,164
Other debtors
120
1,211,284
1,211,164
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,231,090
1,235,601
Accruals and deferred income
3,102
3,465
1,234,192
1,239,066
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 50p each
200
200
100
100
7
Related party transactions
AEROTHERMAL GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
7
Related party transactions
(Continued)
- 5 -
At the balance sheet date, an amount of £1,211,164 (2023: £1,211,164) was owed from the parent company, KC Seven Management Limited. This amount is interest free and repayable on demand.
At the balance sheet date, an amount of £1,231,520 (2023: £1,235,601) was owed to a subsidiary company, Aerothermal Limited. This amount is interest free and repayable on demand.