Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01falseNo description of principal activity22falsetruefalse 11751751 2024-01-01 2024-12-31 11751751 2023-01-01 2023-12-31 11751751 2024-12-31 11751751 2023-12-31 11751751 1 2024-01-01 2024-12-31 11751751 d:Director2 2024-01-01 2024-12-31 11751751 c:CurrentFinancialInstruments 2024-12-31 11751751 c:CurrentFinancialInstruments 2023-12-31 11751751 c:Non-currentFinancialInstruments 2024-12-31 11751751 c:Non-currentFinancialInstruments 2023-12-31 11751751 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 11751751 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 11751751 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 11751751 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 11751751 c:ShareCapital 2024-12-31 11751751 c:ShareCapital 2023-12-31 11751751 c:SharePremium 2024-12-31 11751751 c:SharePremium 2023-12-31 11751751 c:RetainedEarningsAccumulatedLosses 2024-12-31 11751751 c:RetainedEarningsAccumulatedLosses 2023-12-31 11751751 d:OrdinaryShareClass1 2024-01-01 2024-12-31 11751751 d:OrdinaryShareClass1 2024-12-31 11751751 d:OrdinaryShareClass1 2023-12-31 11751751 d:FRS102 2024-01-01 2024-12-31 11751751 d:Audited 2024-01-01 2024-12-31 11751751 d:FullAccounts 2024-01-01 2024-12-31 11751751 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11751751 d:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11751751 6 2024-01-01 2024-12-31 11751751 e:Euro 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11751751


THERME GROUP LIMITED
 (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024

 
THERME GROUP LIMITED (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)
 
 (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)
REGISTERED NUMBER: 11751751

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note

Fixed assets
  

Investments
 4 
111,081,681
345

  
111,081,681
345

Current assets
  

Debtors: amounts falling due within one year
 5 
30,793
31,768

Cash at bank and in hand
 6 
82,711
111,499

  
113,504
143,267

Creditors: amounts falling due within one year
 7 
(5,370)
(5,926)

Net current assets
  
 
 
108,134
 
 
137,341

Total assets less current liabilities
  
111,189,815
137,686

Creditors: amounts falling due after more than one year
 8 
(69,286)
(90,136)

  

Net assets
  
111,120,529
47,550


Capital and reserves
  

Called up share capital 
 9 
346
223

Share premium account
  
111,193,443
112,247

Profit and loss account
  
(73,260)
(64,920)

  
111,120,529
47,550


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 14 August 2025.



T A Ion
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 
THERME GROUP LIMITED (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)
 
 (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)
REGISTERED NUMBER: 11751751
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024


Page 2

 
THERME GROUP LIMITED (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)

 (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Therme Group Limited (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, Richmond, Surrey, England, TW9 1QH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

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.

 
2.4

Foreign currency translation

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.

Page 3

 
THERME GROUP LIMITED (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)

 (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.4
Foreign currency translation (continued)

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 presentation currency has been changed in order to align it with the current functional currency of the company.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

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.

Page 4

 
THERME GROUP LIMITED (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)

 (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

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.

 
2.10

Creditors

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Investments in subsidiary companies




Cost or valuation


At 1 January 2024
345


Additions
111,081,319


Foreign exchange movement
17



At 31 December 2024
111,081,681




During the year the company invested €111,081,319 into its fully owned subsidiary T-Infra Global Ltd (‘TIG’) which indirectly acquired two wellbeing assets, one in Germany (Therme Erding) and one in Romania (T-infra RBJ Ltd).


5.


Debtors

2024
2023


Amounts owed by group undertakings
30,793
31,655

Other debtors
-
113
Page 5

 
THERME GROUP LIMITED (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)

 (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.Debtors (continued)


30,793
31,768



6.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
82,711
111,499



7.


Creditors: Amounts falling due within one year

2024
2023

Trade creditors
-
677

Amounts owed to group undertakings
551
1,456

Accruals and deferred income
4,819
3,793

5,370
5,926



8.


Creditors: Amounts falling due after more than one year

2024
2023

Amounts owed to group undertakings
69,286
90,136



9.


Share capital

2024
2023
Allotted, called up and fully paid



302 (2023 - 200) Ordinary shares of £1 each
346
223


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 100 Ordinary shares for a total of £3,388,167.

Page 6

 
THERME GROUP LIMITED (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)

 (FORMERLY THERME GROUP HOLDINGS (UK) LIMITED)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Related party transactions

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.


11.


Post balance sheet events

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 subscribe for an additional share in its subsidiary, T-Infra Global Ltd.


12.


Controlling party

RHTG Holding GmbH is 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 current parent company undertaking of the smallest group within which this company belongs. Group accounts
can be obtained from its registered office at Wienerbergstraße 51 / 4. OG, A-1120 Wien, Austria. After the year end A-HEAT Allied Exchange Technology AG acquired a direct minority share in the company.
The immediate parent company is Therme Group RHTG. Its registered office is Wienerbergstraße 51 / 4. OG, A-1120 Wien, Austria.
 


13.


Auditors' information

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.

 
Page 7