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REGISTERED NUMBER: 09080287 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

FOR

THERMOTEC (UK) LTD

THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THERMOTEC (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr C Devenish
Mr R Devenish
Mr G Devenish





REGISTERED OFFICE: 53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF





REGISTERED NUMBER: 09080287 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
Chartered Accountants
53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 3,975 -
Tangible assets 6 218,108 247,719
222,083 247,719

CURRENT ASSETS
Stocks 73,652 118,899
Debtors 7 1,353,109 1,429,289
Cash at bank 1,189,053 707,575
2,615,814 2,255,763
CREDITORS
Amounts falling due within one year 8 811,081 929,873
NET CURRENT ASSETS 1,804,733 1,325,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,026,816

1,573,609

CREDITORS
Amounts falling due after more than
one year

9

(115,984

)

(164,970

)

PROVISIONS FOR LIABILITIES 11 - (835 )
NET ASSETS 1,910,832 1,407,804

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Capital redemption reserve 200,000 200,000
Retained earnings 1,709,832 1,206,804
SHAREHOLDERS' FUNDS 1,910,832 1,407,804

THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

BALANCE SHEET - continued
31 DECEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit And Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by:





Mr C Devenish - Director


THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Thermotec (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 20% straight line
Website - 20% straight line

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 25% on cost

All fixed assets are initially recorded at cost.

THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit And Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Amounts recoverable on contracts
It is standard practice in the construction industry for customers to hold back part of the consideration in the form of a retention. Retentions are then receivable, and recognised in amounts recoverable on contracts once work has been completed to a satisfactory standard and certain conditions are met.

Amounts recoverable on contracts have been recognised in the accounts at a conservative best estimate of retentions the company is entitled to receive. This is based upon work completed at the year end, and making allowance for remedial work and snagging.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1 January 2024 326,000 - 326,000
Additions - 3,975 3,975
At 31 December 2024 326,000 3,975 329,975
AMORTISATION
At 1 January 2024
and 31 December 2024 326,000 - 326,000
NET BOOK VALUE
At 31 December 2024 - 3,975 3,975
At 31 December 2023 - - -

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 13,686 6,212 263,036 30,203 313,137
Additions 6,324 - 35,720 2,076 44,120
Disposals (3,459 ) (103 ) - (4,532 ) (8,094 )
At 31 December 2024 16,551 6,109 298,756 27,747 349,163
DEPRECIATION
At 1 January 2024 5,578 4,637 30,738 24,465 65,418
Charge for year 3,193 394 67,004 2,809 73,400
Eliminated on disposal (3,132 ) (99 ) - (4,532 ) (7,763 )
At 31 December 2024 5,639 4,932 97,742 22,742 131,055
NET BOOK VALUE
At 31 December 2024 10,912 1,177 201,014 5,005 218,108
At 31 December 2023 8,108 1,575 232,298 5,738 247,719

THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2024 240,149
Additions 35,720
At 31 December 2024 275,869
DEPRECIATION
At 1 January 2024 11,671
Charge for year 66,049
At 31 December 2024 77,720
NET BOOK VALUE
At 31 December 2024 198,149
At 31 December 2023 228,478

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 851,868 1,059,071
Amounts receivable on contracts 251,102 73,000
Other debtors 143,815 27,412
Directors' current accounts - 107,978
VAT 62,836 120,981
Deferred tax asset
Accelerated capital allowances 444 -
Prepayments and accrued income 43,044 40,847
1,353,109 1,429,289

THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts and finance leases (see note 10)
62,689

48,772
Trade creditors 205,385 278,889
Corporation tax 309,012 254,557
PAYE and social security 13,696 13,088
Other creditors 73,773 155,874
Directors' current accounts 129,829 162,196
Accruals and deferred income 6,697 6,497
811,081 929,873

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,000 -
Bank loans - 2-5 years - 15,000
Hire purchase contracts and finance leases (see note 10)
110,984

149,970
115,984 164,970

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
Finance leases
2024 2023 2024 2023
£    £    £    £   
Net obligations repayable:
Within one year 1,890 - 60,799 48,772
Between one and five years 21,812 - 89,172 149,970
23,702 - 149,971 198,742

THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


10. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 137,729 59,750
Between one and five years 130,272 37,348
268,001 97,098

11. PROVISIONS FOR LIABILITIES
2023
£   
Deferred tax
Accelerated capital allowances 835

Deferred
tax
£   
Balance at 1 January 2024 835
Provided during year (1,279 )
Balance at 31 December 2024 (444 )

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,000 Ordinary A 1p 300 300
30,000 Ordinary B 1p 300 300
10,000 Ordinary C 1p 100 100
10,000 Ordinary D 1p 100 100
10,000 Ordinary E 1p 100 100
10,000 Ordinary F 1p 100 100
1,000 1,000

THERMOTEC (UK) LTD (REGISTERED NUMBER: 09080287)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Mr R Devenish
Balance outstanding at start of year 6,139 10,707
Amounts advanced 21,874 25,494
Amounts repaid (54,055 ) (30,062 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (26,042 ) 6,139

Mr G Devenish
Balance outstanding at start of year 101,839 (8,522 )
Amounts advanced 37,969 130,423
Amounts repaid (145,758 ) (20,062 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,950 ) 101,839

Any loan to a Director is subject to an interest charge at the prevailing rate