ThermoProtect Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 09789966

		31 March 2025		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		826,489		860,046
Tangible Assets	5		22,843		28,699

			849,332		888,745
CURRENT ASSETS
Stocks	6	4,136		91,674
Debtors	7	120,993		151,660
Cash at bank and in hand		9,218		25,015

		134,347		268,349
Creditors: Amounts Falling Due Within One Year	8	(300,511 )		(237,377 )

NET CURRENT ASSETS (LIABILITIES)			(166,164 )		30,972

TOTAL ASSETS LESS CURRENT LIABILITIES			683,168		919,717

Creditors: Amounts Falling Due After More Than One Year	9		(204,931 )		(282,163 )

NET ASSETS			478,237		637,554

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			478,137		637,454

SHAREHOLDERS' FUNDS			478,237		637,554

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ThermoProtect Limited

Balance Sheet (continued)

As At 31 March 2025

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Richard Yeo

Director

04/04/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

ThermoProtect Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09789966 . The registered office is First Floor Offices, 18 Callywith Gate, Launceston Road, Bodmin, Cornwall, PL31 2RQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance
Computer Equipment	25% Reducing Balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the period was:

	31 March 2025	31 December 2023
Office and administration	3	5
Sales, marketing and distribution	2	2

	5	7

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ThermoProtect Limited

Notes to the Financial Statements (continued)

For the Period 1 January 2024 to 31 March 2025

4. Intangible Assets

	Intellectual Property
	£
Cost
As at 1 January 2024	1,099,885
Additions	22,566

As at 31 March 2025	1,122,451

Amortisation
As at 1 January 2024	239,839
Provided during the period	56,123

As at 31 March 2025	295,962

Net Book Value
As at 31 March 2025	826,489

As at 1 January 2024	860,046

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	106,418	18,809	27,587	152,814
Additions	698	-	1,060	1,758

As at 31 March 2025	107,116	18,809	28,647	154,572

Depreciation
As at 1 January 2024	89,819	16,986	17,310	124,115
Provided during the period	4,324	456	2,834	7,614

As at 31 March 2025	94,143	17,442	20,144	131,729

Net Book Value
As at 31 March 2025	12,973	1,367	8,503	22,843

As at 1 January 2024	16,599	1,823	10,277	28,699

6. Stocks

	31 March 2025	31 December 2023
	£	£
Stock	4,136	-
Materials	-	91,674

	4,136	91,674

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ThermoProtect Limited

Notes to the Financial Statements (continued)

For the Period 1 January 2024 to 31 March 2025

7. Debtors

	31 March 2025	31 December 2023
	£	£
Due within one year
Trade debtors	50,043	128,218
Prepayments and accrued income	4,200	4,200
Other debtors	28,131	19,242
VAT	25,317	-
Other taxes and social security	13,302	-

	120,993	151,660

8. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 December 2023
	£	£
Trade creditors	99,411	198,724
Bank loans and overdrafts	57,466	35,745
Other loans	143,634	-
VAT	-	2,908

	300,511	237,377

9. Creditors: Amounts Falling Due After More Than One Year

	31 March 2025	31 December 2023
	£	£
Bank loans	121,889	155,255
Other loans	83,042	-
Other creditors	-	126,908

	204,931	282,163

10. Share Capital

	31 March 2025	31 December 2023
	£	£
Allotted, Called up and fully paid	100	100

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