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Registered number: 14284928
THERME MAPR LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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THERME MAPR LIMITED
REGISTERED NUMBER: 14284928
BALANCE SHEET
AS AT 31 DECEMBER 2024
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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 (liabilities)/assets
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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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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 income and retained earnings 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 26 September 2025.
The notes on pages 2 to 6 form part of these financial statements.
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THERME MAPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Therme MAPR 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
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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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
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.
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.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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THERME MAPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
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Property under development
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The property was under development during the year. As the property was incomplete and not in use during the year, no depreciation has been provided for.
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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 the directors, during the year was as follows:
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THERME MAPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Property under development
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Property under development relates to the pre-construction costs of a wellbeing resort in Manchester ('Therme Manchester'). The above amount includes a total of £47,539 (2023 - £Nil) of accumulated capitalised borrowing costs.
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Amounts owed by group undertakings
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Cash and cash equivalents
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THERME MAPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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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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In 2023 the Company signed a lease for land at Trafford City, Manchester on which it expects to build a wellbeing resort known as Therme Manchester. The Company also entered into an option agreement enabling it to purchase the associated land which can be exercised until December 2038. At 31 December 2024 the option had not been exercised and there are no associated liabilities due.
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Related party transactions
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The Company has taken advantage of exemption, under the terms of section 33.1A of the Financial
Reporting Standard 102, not to disclose transactions entered with other wholly-owned group
undertakings.
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At the reporting date, 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.
The immediate parent company is Therme Group RHTG. Its registered office is Wienerbergstraße 51 / 4.
OG, A-1120 Wien, Austria.
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THERME MAPR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 29 September 2025 by Richard Rhodes (Senior statutory auditor) on behalf of Feltons Chartered Accountants.
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