Silverfin false false 31/03/2025 01/04/2024 31/03/2025 P A Bolton 03/04/2025 T Grace 10/07/2024 G N K Lewin 10/07/2024 R Lewin 01/06/2024 P M K Lewin 10/07/2024 M E K Lewin 10/07/2024 J R Needham 01/06/2024 29 August 2025 The principal activity of the company during the year was that of the provision of heating contractor services. 00750351 2025-03-31 00750351 bus:Director1 2025-03-31 00750351 bus:Director2 2025-03-31 00750351 bus:Director3 2025-03-31 00750351 bus:Director4 2025-03-31 00750351 bus:Director5 2025-03-31 00750351 bus:Director6 2025-03-31 00750351 bus:Director7 2025-03-31 00750351 2024-03-31 00750351 core:CurrentFinancialInstruments 2025-03-31 00750351 core:CurrentFinancialInstruments 2024-03-31 00750351 core:Non-currentFinancialInstruments 2025-03-31 00750351 core:Non-currentFinancialInstruments 2024-03-31 00750351 core:ShareCapital 2025-03-31 00750351 core:ShareCapital 2024-03-31 00750351 core:SharePremium 2025-03-31 00750351 core:SharePremium 2024-03-31 00750351 core:OtherCapitalReserve 2025-03-31 00750351 core:OtherCapitalReserve 2024-03-31 00750351 core:RetainedEarningsAccumulatedLosses 2025-03-31 00750351 core:RetainedEarningsAccumulatedLosses 2024-03-31 00750351 core:ShareCapital 2023-03-31 00750351 core:SharePremium 2023-03-31 00750351 core:OtherCapitalReserve 2023-03-31 00750351 core:RetainedEarningsAccumulatedLosses 2023-03-31 00750351 2023-03-31 00750351 core:LeaseholdImprovements 2024-03-31 00750351 core:PlantMachinery 2024-03-31 00750351 core:Vehicles 2024-03-31 00750351 core:ComputerEquipment 2024-03-31 00750351 core:LeaseholdImprovements 2025-03-31 00750351 core:PlantMachinery 2025-03-31 00750351 core:Vehicles 2025-03-31 00750351 core:ComputerEquipment 2025-03-31 00750351 bus:OrdinaryShareClass1 2025-03-31 00750351 core:WithinOneYear 2025-03-31 00750351 core:WithinOneYear 2024-03-31 00750351 core:BetweenOneFiveYears 2025-03-31 00750351 core:BetweenOneFiveYears 2024-03-31 00750351 2024-04-01 2025-03-31 00750351 bus:FilletedAccounts 2024-04-01 2025-03-31 00750351 bus:SmallEntities 2024-04-01 2025-03-31 00750351 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 00750351 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 00750351 bus:Director1 2024-04-01 2025-03-31 00750351 bus:Director2 2024-04-01 2025-03-31 00750351 bus:Director3 2024-04-01 2025-03-31 00750351 bus:Director4 2024-04-01 2025-03-31 00750351 bus:Director5 2024-04-01 2025-03-31 00750351 bus:Director6 2024-04-01 2025-03-31 00750351 bus:Director7 2024-04-01 2025-03-31 00750351 core:ShareCapital 2023-04-01 2024-03-31 00750351 core:SharePremium 2023-04-01 2024-03-31 00750351 core:OtherCapitalReserve 2023-04-01 2024-03-31 00750351 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 00750351 2023-04-01 2024-03-31 00750351 core:ShareCapital 2024-04-01 2025-03-31 00750351 core:SharePremium 2024-04-01 2025-03-31 00750351 core:OtherCapitalReserve 2024-04-01 2025-03-31 00750351 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 00750351 core:ShareCapital 1 2024-04-01 2025-03-31 00750351 core:SharePremium 1 2024-04-01 2025-03-31 00750351 core:OtherCapitalReserve 1 2024-04-01 2025-03-31 00750351 core:RetainedEarningsAccumulatedLosses 1 2024-04-01 2025-03-31 00750351 1 2024-04-01 2025-03-31 00750351 core:ShareCapital 2 2024-04-01 2025-03-31 00750351 core:SharePremium 2 2024-04-01 2025-03-31 00750351 core:OtherCapitalReserve 2 2024-04-01 2025-03-31 00750351 core:RetainedEarningsAccumulatedLosses 2 2024-04-01 2025-03-31 00750351 2 2024-04-01 2025-03-31 00750351 core:ShareCapital 3 2024-04-01 2025-03-31 00750351 core:SharePremium 3 2024-04-01 2025-03-31 00750351 core:OtherCapitalReserve 3 2024-04-01 2025-03-31 00750351 core:RetainedEarningsAccumulatedLosses 3 2024-04-01 2025-03-31 00750351 3 2024-04-01 2025-03-31 00750351 core:LeaseholdImprovements core:TopRangeValue 2024-04-01 2025-03-31 00750351 core:PlantMachinery core:TopRangeValue 2024-04-01 2025-03-31 00750351 core:Vehicles core:TopRangeValue 2024-04-01 2025-03-31 00750351 core:ComputerEquipment core:TopRangeValue 2024-04-01 2025-03-31 00750351 core:LeaseholdImprovements 2024-04-01 2025-03-31 00750351 core:PlantMachinery 2024-04-01 2025-03-31 00750351 core:Vehicles 2024-04-01 2025-03-31 00750351 core:ComputerEquipment 2024-04-01 2025-03-31 00750351 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 00750351 core:Non-currentFinancialInstruments 2024-04-01 2025-03-31 00750351 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 00750351 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00750351 (England and Wales)

ISOTEMP (HEATING & VENTILATING) LTD

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

ISOTEMP (HEATING & VENTILATING) LTD

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

ISOTEMP (HEATING & VENTILATING) LTD

COMPANY INFORMATION

For the financial year ended 31 March 2025
ISOTEMP (HEATING & VENTILATING) LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025
DIRECTORS P A Bolton (Resigned 03 April 2025)
T Grace (Resigned 10 July 2024)
G N K Lewin (Resigned 10 July 2024)
R Lewin (Appointed 01 June 2024)
P M K Lewin (Resigned 10 July 2024)
M E K Lewin (Resigned 10 July 2024)
J R Needham (Appointed 01 June 2024)
SECRETARY S J Holmes
REGISTERED OFFICE Loudwater Mill Station Road
Loudwater
High Wycombe
Buckinghamshire
HP10 9UD
United Kingdom
COMPANY NUMBER 00750351 (England and Wales)
ACCOUNTANT S&W Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
ISOTEMP (HEATING & VENTILATING) LTD

BALANCE SHEET

As at 31 March 2025
ISOTEMP (HEATING & VENTILATING) LTD

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 4 106,120 90,769
106,120 90,769
Current assets
Stocks 46,890 35,932
Debtors 5 519,315 731,432
Cash at bank and in hand 424,411 755,213
990,616 1,522,577
Creditors: amounts falling due within one year 6 ( 299,919) ( 211,682)
Net current assets 690,697 1,310,895
Total assets less current liabilities 796,817 1,401,664
Creditors: amounts falling due after more than one year 7 ( 31,684) ( 20,769)
Provision for liabilities ( 23,758) ( 19,592)
Net assets 741,375 1,361,303
Capital and reserves
Called-up share capital 8 215 3,000
Share premium account 30,571 0
Other reserves 0 67,500
Profit and loss account 710,589 1,290,803
Total shareholders' funds 741,375 1,361,303

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Isotemp (Heating & Ventilating) LTD (registered number: 00750351) were approved and authorised for issue by the Board of Directors on 29 August 2025. They were signed on its behalf by:

J R Needham
Director
ISOTEMP (HEATING & VENTILATING) LTD

STATEMENT OF CHANGES IN EQUITY

For the financial year ended 31 March 2025
ISOTEMP (HEATING & VENTILATING) LTD

STATEMENT OF CHANGES IN EQUITY (continued)

For the financial year ended 31 March 2025
Called-up share capital Share premium account Other reserves Profit and loss account Total
£ £ £ £ £
At 01 April 2023 3,000 0 0 1,240,299 1,243,299
Profit for the financial year 0 0 0 50,504 50,504
Total comprehensive income 0 0 0 50,504 50,504
Credit to equity for equity settled share-based payment 0 0 67,500 0 67,500
At 31 March 2024 3,000 0 67,500 1,290,803 1,361,303
At 01 April 2024 3,000 0 67,500 1,290,803 1,361,303
Profit for the financial year 0 0 0 213,701 213,701
Total comprehensive income 0 0 0 213,701 213,701
Issue of share capital 215 30,571 0 0 30,786
Dividends paid on equity shares 0 0 0 ( 30,786) ( 30,786)
Own shares acquired 0 0 0 ( 833,629) ( 833,629)
Other movements 0 0 ( 67,500) 67,500 0
Cancellation of shares ( 3,000) 0 0 3,000 0
At 31 March 2025 215 30,571 0 710,589 741,375
ISOTEMP (HEATING & VENTILATING) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
ISOTEMP (HEATING & VENTILATING) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Isotemp (Heating and Ventilating) LTD (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Loudwater Mill Station Road, Loudwater, High Wycombe, Buckinghamshire, HP10 9UD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Isotemp (Heating and Ventilating) LTD is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Fair value is measured by use of the Black Scholes model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 10 years straight line
Vehicles 5 years straight line
Computer equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 20 17

3. Share-based payments

Equity-settled share-based payment schemes

Options are exercisable at a price equal to the estimated fair value of the Company’s shares on the date of grant. Options are forfeited if the employee leaves the Company before the options vest.

The weighted average fair value of options granted in the year was determined using the Black-Scholes option pricing model. The Black-Scholes model is considered to apply the most appropriate valuation method due to the relatively short contractual lives of the options and the requirement to exercise within a short period after the employee becomes entitled to the shares (the “vesting date”).

Details of the share options outstanding during the financial year are as follows:

2025 2024
Weighted Average Weighted Average
Number of share options Average exercise price (£) Number of share options Average exercise price (£)
Outstanding at beginning of period 215 0 0 0
Granted during the period 0 0 215 143.19
Exercised during the period ( 215) 143.19 0 0
Outstanding at the end of the period 0 0 215 0
Exercisable at the end of the period 0 0 0 0

As of 31 March 2025 there were no options outstanding.

The Company recognised total expenses of £ 0 and £ 0 related to equity-settled share-based payment transactions in 2025 and 2024 respectively.

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2024 16,128 249,385 163,290 61,441 490,244
Additions 4,731 0 55,506 752 60,989
Disposals 0 ( 28,627) ( 32,418) ( 3,774) ( 64,819)
At 31 March 2025 20,859 220,758 186,378 58,419 486,414
Accumulated depreciation
At 01 April 2024 12,904 227,033 103,826 55,712 399,475
Charge for the financial year 3,415 6,319 20,689 1,676 32,099
Disposals 0 ( 28,627) ( 18,879) ( 3,774) ( 51,280)
At 31 March 2025 16,319 204,725 105,636 53,614 380,294
Net book value
At 31 March 2025 4,540 16,033 80,742 4,805 106,120
At 31 March 2024 3,224 22,352 59,464 5,729 90,769

5. Debtors

2025 2024
£ £
Trade debtors 415,119 524,502
Other debtors 104,196 206,930
519,315 731,432

6. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 18,561 16,353
Trade creditors 85,057 88,945
Taxation and social security 104,047 68,899
Obligations under finance leases and hire purchase contracts 13,601 0
Other creditors 78,653 37,485
299,919 211,682

Obligations under finance leases and hire purchase contracts represent hire purchase obligations which are secured by fixed charges over the assets to which they relate.

7. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans 0 20,769
Obligations under finance leases and hire purchase contracts 31,684 0
31,684 20,769

Obligations under finance leases and hire purchase contracts represent hire purchase obligations which are secured by fixed charges over the assets to which they relate.

8. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
215 Ordinary shares of £ 1.00 each (2024: 3,000 shares of £ 1.00 each) 215 3,000

During the year, the company issued 215 Ordinary shares of £1.00 each for a total consideration of £30,786.
Subsequently, the company purchased its own 3,000 Ordinary shares of £1.00 each for a total consideration of £833,629 and the shares were cancelled.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
within one year 50,000 50,000
between one and five years 41,667 91,667
91,667 141,667