Company registration number 05881418 (England and Wales)
AEROTHERMAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
AEROTHERMAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
AEROTHERMAL LIMITED
BALANCE SHEET
AS AT
29 SEPTEMBER 2024
29 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
35,495
5,462
Current assets
Debtors
5
2,870,149
1,870,784
Cash at bank and in hand
98,005
104,678
2,968,154
1,975,462
Creditors: amounts falling due within one year
7
(2,651,282)
(1,691,791)
Net current assets
316,872
283,671
Total assets less current liabilities
352,367
289,133
Creditors: amounts falling due after more than one year
8
(269,553)
-
0
Net assets
82,814
289,133
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
82,714
289,033
Total equity
82,814
289,133

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 29 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 12 July 2025 and are signed on its behalf by:
Mr C Toll
Director
Company Registration No. 05881418
AEROTHERMAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

AeroThermal 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 twelve 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
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Research and development expenditure

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.

 

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

1.5
Intangible fixed assets other than goodwill

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

 

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 

AEROTHERMAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -

Amortisation 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:

Software
10% straight line
1.6
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:

Leasehold improvements
20% straight line
Plant and machinery
20% straight line
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.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
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.

1.9
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 instriuments to be basic.

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.

AEROTHERMAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

 

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.14

Group accounts

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.

AEROTHERMAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
9
7
3
Intangible fixed assets
Software
£
Cost
At 30 September 2023 and 29 September 2024
13,320
Amortisation and impairment
At 30 September 2023 and 29 September 2024
13,320
Carrying amount
At 29 September 2024
-
0
At 29 September 2023
-
0
4
Tangible fixed assets
Leasehold improvements
Plant and machinery
Office equipment
Total
£
£
£
£
Cost
At 30 September 2023
57,845
2,750
16,428
77,023
Additions
10,924
16,843
7,118
34,885
At 29 September 2024
68,769
19,593
23,546
111,908
Depreciation and impairment
At 30 September 2023
55,864
1,329
14,368
71,561
Depreciation charged in the year
2,632
877
1,343
4,852
At 29 September 2024
58,496
2,206
15,711
76,413
Carrying amount
At 29 September 2024
10,273
17,387
7,835
35,495
At 29 September 2023
1,981
1,421
2,060
5,462
AEROTHERMAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
886,999
358,844
Amounts owed by group undertakings
1,387,517
1,384,900
Other debtors
750
55,995
Prepayments and accrued income
594,883
71,045
2,870,149
1,870,784
6
Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £9,841 (2023: £9,762 ).

7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
43,702
2
Trade creditors
874,081
94,627
Amounts owed to group undertakings
193,000
250,647
Taxation and social security
10,714
3,264
Deferred income
229,279
-
0
Other creditors
1,259,675
1,306,511
Accruals and deferred income
40,831
36,740
2,651,282
1,691,791
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
269,553
-
0
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
10
Related party transactions
AEROTHERMAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
10
Related party transactions
(Continued)
- 7 -

At the balance sheet date, an amount of £1,231,520 (2023: £1,235,600) was owed from Aerothermal Group Holdings Limited, a company which has common directorship. The amount is included in debtors, it is interest free and repayable on demand.

 

At the balance sheet date, an amount of £173,573 (2023: £149,300) was owed to the parent company, KC Seven Management Limited. This amount is interest free and repayable on demand.

 

At the balance sheet date, an amount of £267,545 (2023: £211,811) was owed to Aerothermal Management Limited, a company which has common directorship. The amount is included in creditors, it is interest free and repayable on demand.

 

At the balance sheet date, an amount of £13,958 (2023: £38,836) was owed to Aerothermal Technology Group Limited, a company which has common directorship. The amount is included in creditors, it is interest free and repayable on demand.

 

At the balance sheet date, an amount of £130,634 (2023: £26,250) was owed to Farleydene Trust, a trust which has common directorship. The amount is included in other creditors, it is interest free and repayable on demand.

 

At the balance sheet date, an amount of £9,660 (2023: £6,500) was owed from Kaama Aeromarine, a company which has common directorship. The amount is included in other creditors, it is interest free and repayable on demand.

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