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Registered number: 11759061
T-INFRA GLOBAL LTD
(FORMERLY THERME GROUP PROJECTS UK LIMITED)
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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T-INFRA GLOBAL LTD (FORMERLY THERME GROUP PROJECTS UK LIMITED)
(FORMERLY THERME GROUP PROJECTS UK LIMITED)
REGISTERED NUMBER: 11759061
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 August 2025.
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T-INFRA GLOBAL LTD (FORMERLY THERME GROUP PROJECTS UK LIMITED)
(FORMERLY THERME GROUP PROJECTS UK LIMITED)
REGISTERED NUMBER: 11759061
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The notes on pages 3 to 7 form part of these financial statements.
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T-INFRA GLOBAL LTD (FORMERLY THERME GROUP PROJECTS UK LIMITED)
(FORMERLY THERME GROUP PROJECTS UK LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
T-Infra Global Ltd (the Company) is a company incorporated in the United Kingdom under the Companies Act.
The Company is a private company limited by shares and is registered in England and Wales. The address of the Company's registered office is 15 Little Green, Surrey, TW9 1QH.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
We have continued to prepare the accounts on a going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status currently exists. In making this assessment we have considered the likely conditions and sources of support for a period of twelve months from the date of our approval of these accounts.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is Euros.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
The financial statements have been prepared for the first time under using Euro as the presentation
currency. Previously the financial statements had been prepared using pound sterling. The
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T-INFRA GLOBAL LTD (FORMERLY THERME GROUP PROJECTS UK LIMITED)
(FORMERLY THERME GROUP PROJECTS UK LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Foreign currency translation (continued)
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presentation currency has been changed in order to align it with the current functional currency of the
company.
Interest income is recognised in profit or loss using the effective interest method.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including directors, during the year was 4 (2023 - 4).
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T-INFRA GLOBAL LTD (FORMERLY THERME GROUP PROJECTS UK LIMITED)
(FORMERLY THERME GROUP PROJECTS UK LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Investments in subsidiary companies
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During the year the company incorporated T-Infra GES Limited (‘GES’) a fully owned subsidiary and provided shareholder funding that was used for acquisition of a thermal wellbeing resort in Germany (Therme Erding). The company also incorporated a wholly owned subsidiary T-infra RBJ Ltd and provided funding that was used for the acquisition of a thermal wellbeing resort in Romania (Therme Bucharest).
The cumulative investment made by the company in Therme Erding and Therme Bucharest together with the costs associated with its investments is included in the Balance Sheet at the reporting date.
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Due after more than one year
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Amounts owed by group undertakings
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Amounts owed by group undertakings
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Prepayments and accrued income
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T-INFRA GLOBAL LTD (FORMERLY THERME GROUP PROJECTS UK LIMITED)
(FORMERLY THERME GROUP PROJECTS UK LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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Allotted, called up and fully paid
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103 (2023 - 100) Ordinary shares of £1.00 each
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On 3rd December 2024, the company issued 1 Ordinary share for €70,000,000.
On 20th December 2024, the company issued 1 Ordinary share for €37,000,000.
On 20th December 2024, the company issued 1 Ordinary shares for a total of £3,388,167.
10.Other financial commitments
In December 2024, the Company secured a €320 million loan for its subsidiary, T-Infra GES Limited, by registering a fixed charge and negative pledge over certain of its own assets.
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T-INFRA GLOBAL LTD (FORMERLY THERME GROUP PROJECTS UK LIMITED)
(FORMERLY THERME GROUP PROJECTS UK LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Related party transactions
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During the year the Company was charged net of credit notes €Nil (2023 - €31,298) for services provided by non-wholly owned group undertakings, of which €NIL (2023 - €6,973) was outstanding at the balance sheet date and shown in creditors falling due within one year under amounts owed to group undertakings.
At the balance sheet date, the company owed €NIL (2023 - €3,046,333) in long term loans and interest to parent undertakings on which €340,314 (2023 - €224,263) of related interest and charges was incurred during the year.
The Company has taken advantage of exemption, under the terms of section 33.1A of the Finanical Reporting Standard 102, not to disclose transactions entered with other wholly-owned group undertakings.
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Post balance sheet events
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Subsequent to the year end, the company issued 1 share with a nominal value of £1 for a consideration of €15,846,585. This has enabled the company to pay down the creditor due after more than one year.
Post year end the company entered into a financing agreement with an affiliate of Sculptor Capital Management related to a financial investment into the company.
A portion of the costs related to this transaction have been accrued in the Balance Sheet as at the year end.
RHTG Holding GmbH was the ultimate parent company. Its registered office is Wienerbergstraße 51 / 4. OG, A-1120 Wien, Austria.
A-HEAT Allied Heat Exchange Technology AG was the former ultimate parent company and a current parent company undertaking of an intermediate group within which this company belongs. Group accounts can be obtained from its registered office at Wienerbergstraße 51 / 4. OG, A-1120 Wien, Austria.
The immediate parent company is Therme Group Holdings (UK) Limited. Its registered office is 15 Little Green, Richmond, Surrey TW9 1QH, UK.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 19 August 2025 by Richard Rhodes (Senior statutory auditor) on behalf of Feltons Chartered Accountants.
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