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REGISTERED NUMBER: SC154472 (Scotland)











































Thermaheat Limited

Unaudited Financial Statements

for the Year Ended 31st March 2025






Thermaheat Limited (Registered number: SC154472)






Contents of the Financial Statements
for the year ended 31st March 2025




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Thermaheat Limited

Company Information
for the year ended 31st March 2025







Directors: R S Purves
I Ramage





Secretary: I Ramage





Registered office: Unit 1
Edenside Workshops
Inch Road
Kelso
Roxburghshire
TD5 7JR





Registered number: SC154472 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Thermaheat Limited (Registered number: SC154472)

Balance Sheet
31st March 2025

2025 2024
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,945 6,411

Current assets
Stocks 104,462 119,117
Debtors 5 102,254 93,517
Cash at bank and in hand 60,568 83,917
267,284 296,551
Creditors
Amounts falling due within one year 6 159,969 174,192
Net current assets 107,315 122,359
Total assets less current liabilities 109,260 128,770

Provisions for liabilities 370 1,218
Net assets 108,890 127,552

Capital and reserves
Called up share capital 12,503 12,503
Retained earnings 96,387 115,049
Shareholders' funds 108,890 127,552

Thermaheat Limited (Registered number: SC154472)

Balance Sheet - continued
31st March 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th August 2025 and were signed on its behalf by:




I Ramage - Director



R S Purves - Director


Thermaheat Limited (Registered number: SC154472)

Notes to the Financial Statements
for the year ended 31st March 2025

1. Statutory information

Thermaheat Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

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

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, shareholder loans and directors' loans.

Directors' loans and shareholder loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


Thermaheat Limited (Registered number: SC154472)

Notes to the Financial Statements - continued
for the year ended 31st March 2025

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 8 (2024 - 9 ) .

Thermaheat Limited (Registered number: SC154472)

Notes to the Financial Statements - continued
for the year ended 31st March 2025

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1st April 2024
and 31st March 2025 23,422 7,044 89,133 119,599
Depreciation
At 1st April 2024 23,422 4,610 85,156 113,188
Charge for year - 489 3,977 4,466
At 31st March 2025 23,422 5,099 89,133 117,654
Net book value
At 31st March 2025 - 1,945 - 1,945
At 31st March 2024 - 2,434 3,977 6,411

5. Debtors: amounts falling due within one year
2025 2024
£    £   
Trade debtors 88,605 86,251
Amounts recoverable on contract 7,728 699
Other debtors 5,921 6,567
102,254 93,517

6. Creditors: amounts falling due within one year
2025 2024
£    £   
Trade creditors 78,577 63,139
Taxation and social security 27,404 43,323
Other creditors 53,988 67,730
159,969 174,192