Thermserve_Limited_31_Aug_2025_companies_house_set_of

Thermserve Limited

Abridged Statement of Financial Position

31 August 2025

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	5	1,561,748		1,446,609
Current assets
Stocks		25,000		42,000
Debtors		654,696		778,610
Investments		2,042,409		-
Cash at bank and in hand		2,965,810		3,863,609
		5,687,915		4,684,219
Creditors: amounts falling due within one year		(622,709	)	(776,734	)
Net current assets		5,065,206		3,907,485
Total assets less current liabilities		6,626,954		5,354,094
Provisions for liabilities		(48,720	)	(10,990	)
Net assets		6,578,234		5,343,104
Capital and reserves
Called up share capital		100		100
Revaluation reserve		709,368		709,368
Profit and loss account		5,868,766		4,633,636
Shareholders funds		6,578,234		5,343,104

For the year ending

31 August 2025

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.

All of the members have consented to the preparation of the abridged statement of financial position and the abridged income statement for the year ended

31 August 2025

in accordance with Section 444(2A) of the Companies Act 2006.

These

abridged 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 income statement has not been delivered.

These

abridged financial statements

were approved by the board of directors and authorised for issue on

5 September 2025

, and are signed on behalf of the board by:

Mr S Hodgkiss

Director

Company registration number:

04266369

Thermserve Limited

Notes to the Abridged Financial Statements

Year ended

31 August 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Shropshire Court

Halesfield 2

Telford

Shropshire

TF7 4QH

, .

2 Statement of compliance

These

abridged financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

abridged financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

abridged financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

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

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation 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:

Land and buildings	Not applicable
Plant and machinery	33% of cost
Motor vehicles	25% of net book value

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

15.00

5 Fixed assets

	Tangible assets		Investments	Total
	£		£	£
Cost
At 1 September 2024	1,797,586		-	1,797,586
Additions	204,506		-	204,506
Disposals	(90,246	)	-	(90,246	)
At 31 August 2025	1,911,846		-	1,911,846
Depreciation
At 1 September 2024	350,977		-	350,977
Charge	49,660		-	49,660
Disposals	(50,539	)	-	(50,539	)
At 31 August 2025	350,098		-	350,098
Carrying amount
At 31 August 2025	1,561,748		-	1,561,748
At 31 August 2024	1,446,609		-	1,446,609

Fixed assets held at valuation

In respect of fixed assets held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	2025		2024
	Tangible assets		Tangible assets
	£		£
Aggregate historical cost	808,263		808,263
Aggregate depreciation	(155,206	)	(155,206	)
Carrying amount	653,057		653,057

6 Financial instruments and other assets measured at fair value through profit or loss

The fair value of financial instruments and other assets measured at fair value through profit or loss was as follows:

	2025		2024
	£		£
Financial assets measured at fair value through profit or loss	2,042,409		-