Air Temp Holdings Limited

	Page
Company Information	1
Strategic Report	2—3
Director's Report	4—5
Independent Auditor's Report	6—8
Consolidated Profit and Loss Account	9
Consolidated Statement of Comprehensive Income	10
Consolidated Balance Sheet	11
Company Balance Sheet	12
Consolidated Statement of Changes in Equity	13
Consolidated Statement of Cash Flows	14
Notes to the Consolidated Statement of Cash Flows	15
Notes to the Financial Statements	16—24

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Strategic Report

For The Year Ended 31 March 2025

Strategic Report

The director presents his strategic report for the year ended 31 March 2025.

Review of the Business

The Group comprises the parent company and four subsidiaries, all of which operate within the air conditioning sector, providing installation, servicing, repair and maintenance services to commercial and industrial customers across the UK.

The Group’s strategy is focused on delivering high-quality, reliable services to its customers, maintaining strong long-term client relationships, and operating efficiently while investing in its people and systems to support sustainable growth.

Financial Performance

For the year ended 31 March 2025, the Group reported revenue of £15.1m (prior year: £17.6m). The decrease in revenue reflects a reduction in activity levels across parts of the Group compared with the prior year.

Cost of sales increased compared to the prior year, resulting in a lower gross profit margin. This was driven primarily by increased materials costs, together with ongoing inflationary pressures affecting labour costs and operating expenses. As a result, Group profit for the period decreased to £250,115 (prior year: £1,676,963).

Management has identified that one subsidiary performed below expectations during the year. In response, increased management oversight has been implemented, with a focus on cost control, operational efficiency, and improved project monitoring. The Directors expect these actions to have a positive impact on performance in the following financial year.

Strategy and Objectives

The Group’s key strategic objectives are as follows:

Customer Focus

Providing a high standard of service remains central to the Group’s strategy. The Group places significant importance on client care, reliability, and responsiveness, which are key drivers of repeat business and long-term relationships. Customer satisfaction and service delivery are considered important key performance indicators for the business.

People and Skills

The Group recognises that its employees are fundamental to its success. Ongoing investment in staff development, training, and retention is a priority to ensure the Group maintains a skilled and motivated workforce capable of delivering high-quality services.

Operational Efficiency

Management continues to focus on improving operational efficiency through enhanced project monitoring, cost control, and resource allocation, particularly in light of the current economic environment.

Growth and Sustainability

The Group seeks to grow organically by strengthening its market position, expanding relationships with existing clients, and selectively pursuing new opportunities that align with its expertise and risk profile.

Future Outlook

The Directors remain cautiously optimistic about the Group’s prospects. Actions taken during the year to improve operational oversight and efficiency are expected to support improved performance in the next financial year. While economic uncertainty remains, the Group is well positioned to benefit from its established client base, experienced workforce, and continued focus on service quality.

Principal Risks and Uncertainties

The Directors have identified the following principal risks and uncertainties facing the Group:

Economic and Market Conditions

Demand for air conditioning and related services may be affected by wider economic conditions, including reduced capital expenditure by customers. The Group mitigates this risk through a diversified customer base and a focus on both installation and recurring maintenance work.

Cost Inflation

Rising labour, subcontractor, and material costs may impact margins. Management actively monitors pricing, supplier relationships, and operational efficiency to mitigate the effects of cost pressures.

Dependence on Skilled Labour

The Group’s performance depends on its ability to recruit and retain skilled engineers and technicians. This risk is mitigated through competitive remuneration, training, and a focus on employee engagement.

Operational Performance

Underperformance within individual subsidiaries could adversely affect Group results. This risk is mitigated through regular financial monitoring, enhanced management oversight, and prompt corrective action where required.

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Air Temp Holdings Limited

Strategic Report (continued)

For The Year Ended 31 March 2025

Post Balance Sheet Events

Subsequent to the year end, the Company disposed of one of its subsidiary undertakings. The disposal was undertaken as part of the Directors’ strategy to focus on the Company’s core commercial air conditioning operations and to simplify the Group structure. The Directors do not consider the disposal to have an adverse impact on the ongoing operations or financial position of the Company.

Section 172(1) Statement

In preparing this Strategic Report, the Directors have had regard to the matters set out in section 172 of the Companies Act 2006, including the interests of employees, suppliers, customers, and other stakeholders, as well as the long-term success of the Company.

On behalf of the board

Mr P B Sainty

Director

22nd December 2025

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Air Temp Holdings Limited

Company No. 12504237

Director's Report For The Year Ended 31 March 2025

Director's Report

The director presents his report and the financial statements for the year ended 31 March 2025.

Principal Activity

The group's principal activity continues to be that of installation of air conditioning.

Directors

The director who held office during the year were as follows:

Mr P B Sainty

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the director consider them to be of strategic importance to the business.

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Director's Report is approved:

so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.

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Air Temp Holdings Limited

Director's Report (continued)

For The Year Ended 31 March 2025

Independent Auditors

The auditors, Jacksons Chartered Accountants, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr P B Sainty

Director

22nd December 2025

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Independent Auditor's Report

to the Members of

Air Temp Holdings Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Air Temp Holdings Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 March 2025 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the group's and of the parent company's affairs as at 31 March 2025 and of the group's profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Air Temp Holdings Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records or returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Director's Responsibilities Statement set out on page 4—5, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

. Assessed the nature of the industry and sector, control environment and business performance including the remuneration incentives and pressures of key management;

. The primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. We consider the results of our enquiries of management about their own identification and assessment of the risks of irregularities;

. Any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to:

. identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

. detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

. the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

. The matters discussed among the audit engagement team and regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and relevant tax legislation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

Air Temp Holdings Limited

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Jackson BA FCA (Senior Statutory Auditor)

for and on behalf of Jacksons Chartered Accountants , Statutory Auditor

30th December 2025

Jacksons Chartered Accountants

First Floor, Albion House

Albion Street

Hull

East Yorkshire

HU1 3TE

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Air Temp Holdings Limited

Consolidated Profit and Loss Account

For The Year Ended 31 March 2025

Consolidated Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER		15,138,223	17,573,317
Cost of sales		(13,792,573 )	(14,637,009 )

GROSS PROFIT		1,345,650	2,936,308

Administrative expenses		(890,072 )	(720,975 )
Other operating income		-	5,492

OPERATING PROFIT	4	455,578	2,220,825
Income from Shares in group undertakings		19,100	19,719
Profit on disposal of fixed assets		6,211	5,000
Other interest receivable and similar income	9	782	521
Interest payable and similar charges	10	(141,524 )	(23,537 )

PROFIT BEFORE TAXATION		340,147	2,222,528
Tax on Profit	11	(92,657 )	(545,565 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		247,490	1,676,963


Profit attributable to:
Owners of the parent		248,557	1,675,823
Non-controlling interest		(1,067)	1,140

		247,490	1,676,963

The notes on pages 15 to 24 form part of these financial statements.

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Air Temp Holdings Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 March 2025

Consolidated Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	247,490	1,676,963
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	247,490	1,676,963


Total comprehensive income attributable to:
Owners of the parent	248,557	1,675,823
Non-controlling interest	(1,067)	1,140

	247,490	1,676,963

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Air Temp Holdings Limited

Consolidated Balance Sheet

As At 31 March 2025

Consolidated Balance Sheet

Registered number: 12504237

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		551,584		477,890
Investments	13		25		(74 )

			551,609		477,816
CURRENT ASSETS
Stocks	14	22,551		37,000
Debtors	15	3,835,006		2,689,108
Cash at bank and in hand		3,354,874		2,566,762

		7,212,431		5,292,870
Creditors: Amounts Falling Due Within One Year	16	(4,612,229 )		(2,518,302 )

NET CURRENT ASSETS (LIABILITIES)			2,600,202		2,774,568

TOTAL ASSETS LESS CURRENT LIABILITIES			3,151,811		3,252,384

Creditors: Amounts Falling Due After More Than One Year	17		(278,129 )		(228,410 )

NET ASSETS			2,873,682		3,023,974

CAPITAL AND RESERVES
Called up share capital	20		100		100
Profit and Loss Account			2,866,197		3,015,422

Equity attributable to owners of the parent			2,866,297		3,015,522
Non-controlling interest			7,385		8,452

TOTAL EQUITY			2,873,682		3,023,974

On behalf of the board

Mr P B Sainty

Director

22nd December 2025

The notes on pages 15 to 24 form part of these financial statements.

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Air Temp Holdings Limited

Company Balance Sheet

As At 31 March 2025

Company Balance Sheet

Registered number: 12504237

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investments	13		426		327

			426		327
CURRENT ASSETS
Debtors	15	483,007		1,188,344
Cash at bank and in hand		1,751,131		1,076,824

		2,234,138		2,265,168
Creditors: Amounts Falling Due Within One Year	16	(4,500 )		-

NET CURRENT ASSETS (LIABILITIES)			2,229,638		2,265,168

TOTAL ASSETS LESS CURRENT LIABILITIES			2,230,064		2,265,495

NET ASSETS			2,230,064		2,265,495

CAPITAL AND RESERVES
Called up share capital	20		100		100
Profit and Loss Account			2,229,964		2,265,395

SHAREHOLDERS' FUNDS			2,230,064		2,265,495

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 189,129 (2024: £ 1,413,917 profit).

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 P B Sainty

Director

22nd December 2025

The notes on pages 15 to 24 form part of these financial statements.

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Air Temp Holdings Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 March 2025

Consolidated Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total Attributable to Parent	Non-controlling interest	Total
	£	£	£	£	£
As at 1 April 2023	100	1,666,942	1,667,042	7,312	1,674,354
Profit for the year and total comprehensive income	-	1,675,823	1,675,823	1,140	1,676,963

Dividends paid	-	(327,343)	(327,343)	-	(327,343)

As at 31 March 2024 and 1 April 2024	100	3,015,422	3,015,522	8,452	3,023,974


Profit for the year and total comprehensive income	-	248,557	248,557	(1,067 )	247,490

Dividends paid	-	(397,782)	(397,782)	-	(397,782)

As at 31 March 2025	100	2,866,197	2,866,297	7,385	2,873,682

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Air Temp Holdings Limited

Consolidated Statement of Cash Flows

For The Year Ended 31 March 2025

Consolidated Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	2,176,667	1,460,991
Interest paid		(141,524 )	(23,537 )
Tax paid		(703,969 )	(283 )

Net cash generated from operating activities		1,331,174	1,437,171

Cash flows from investing activities
Purchase of tangible assets		(247,130 )	(207,597 )
Proceeds from disposal of tangible assets		21,911	5,000
Purchase of investment in subsidiary undertaking		(99 )	-
Grants received		-	5,000
Interest received		782	521
Dividends received		19,100	19,719

Net cash used in investing activities		(205,436 )	(177,357 )

Cash flows from financing activities
Equity dividends paid		(397,782 )	(327,343 )
Proceeds from new bank borrowings		-	44,106
Repayment of bank borrowings		(20,203 )	-
Repayment of finance leases		79,629	329,714
Amount introduced by directors		730	-

Net cash (used in)/generated from financing activities		(337,626 )	46,477



Increase in cash and cash equivalents		788,112	1,306,291
Cash and cash equivalents at beginning of year	2	2,566,762	1,260,471

Cash and cash equivalents at end of year	2	3,354,874	2,566,762

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Air Temp Holdings Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 March 2025

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	247,490	1,676,963
Adjustments for:
Tax on profit	92,657	545,565
Interest expense	141,524	23,537
Interest income	(782 )	(521 )
Income from shares in group undertakings	(19,100)	(19,719)
Depreciation of tangible assets	157,736	143,664
Profit on disposal of tangible assets	(6,211)	(5,000)
Grant income	-	(5,000)
Movements in working capital:
Decrease/(increase) in stocks	14,449	(37,000 )
Increase in trade and other debtors	(1,036,521 )	(2,689,108 )
Increase in trade and other creditors	2,585,425	1,827,610

Net cash generated from operations	2,176,667	1,460,991

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	3,354,874	2,566,762

3. Analysis of changes in net funds

	As at 1 April 2024	Cash flows	As at 31 March 2025
	£	£	£
Cash at bank and in hand	2,566,762	788,112	3,354,874
Finance leases	(329,714)	(79,629)	(409,343)
Debts falling due within one year	(20,207 )	(259)	(20,466 )
Debts falling due after more than one year	(23,899)	20,462	(3,437)

	2,192,942	728,686	2,921,628

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Air Temp Holdings Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Air Temp Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12504237 . The registered office is Unit 5 Manor Court, Priory Park East, Hull, East Yorkshire, HU4 7DX.

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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 March 2025.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

2.3. Business Combinations

Business combinations are accounted for by applying the purchase method.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.

Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.

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Air Temp Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.4. 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.

2.5. 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:

Leasehold	10% on cost
Plant & Machinery	20% on cost
Motor Vehicles	20% on cost
Fixtures & Fittings	25% on cost
Computer Equipment	33% on cost

2.6. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.7. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.8. 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 is determined using the first-in, first-out method. 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.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.9. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

Page 17

Page 18

Air Temp Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.10. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.11. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Other Operating Income

	2025	2024
	£	£
Grant income	-	5,000
Other operating income	-	492

	-	5,492

4. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	3,034	-
Depreciation of tangible fixed assets	157,736	143,664

Page 18

Page 19

Air Temp Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the group and company's financial statements	16,000	-

Breakdown of charges:

Audit services of the group - £16,000

Audit services of the company - £4,500

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	2,132,508	1,925,429
Social security costs	157,583	144,481
Other pension costs	121,447	156,183

	2,411,538	2,226,093

7. Average Number of Employees

Group

Average number of employees, including directors, during the year was: 66 (2024: 69)

Company

Average number of employees, including directors, during the year was: 1 (2024: 2)

8. Director's remuneration

	2025	2024
	£	£
Emoluments	54,576	54,576
Company contributions to money purchase pension schemes	85,086	120,086

	139,662	174,662

9. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	43	22
Dividends from shares in associates	19,100	19,719
HMRC interest	739	499

	19,882	20,240

Page 19

Page 20

Air Temp Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

10. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	2,056	2,771
Finance charges payable under finance leases and hire purchase contracts	42,728	16,501
Other finance charges	96,740	4,265

	141,524	23,537

11. Tax on Profit

	2025	2024
The tax charge on the profit for the year was as follows:
	£	£
Current tax
UK Corporation Tax	92,657	545,565


Total tax charge for the period	92,657	545,565


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
	2025	2024
	£	£
Profit before tax	340,147	2,222,528

Tax on profit at 25% (UK standard rate)	129,482	904,544
Goodwill/depreciation not allowed for tax	39,434	35,916
Expenses not deductible for tax purposes	32,059	5,742
Tax losses utilised	(1,406 )	-
Capital allowances	(57,692 )	(47,158 )
Dividends from companies	(49,220 )	(353,842 )
Tax losses unutilised carried forward	-	363

Total tax charge for the period	92,657	545,565

12. Tangible Assets

Group

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost
As at 1 April 2024	64,995	115,991	9,128	737,322
Additions	-	4,142	735	217,463
Disposals	-	-	-	(124,398 )

As at 31 March 2025	64,995	120,133	9,863	830,387

...CONTINUED

Page 20

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Air Temp Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	-	49,950	8,299	411,891
Provided during the period	-	11,389	234	133,517
Disposals	-	-	-	(108,698 )

As at 31 March 2025	-	61,339	8,533	436,710

Net Book Value
As at 31 March 2025	64,995	58,794	1,330	393,677

As at 1 April 2024	64,995	66,041	829	325,431


	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	22,579	28,125	978,140
Additions	766	24,024	247,130
Disposals	-	-	(124,398 )

As at 31 March 2025	23,345	52,149	1,100,872

Depreciation
As at 1 April 2024	15,194	14,916	500,250
Provided during the period	3,674	8,922	157,736
Disposals	-	-	(108,698 )

As at 31 March 2025	18,868	23,838	549,288

Net Book Value
As at 31 March 2025	4,477	28,311	551,584

As at 1 April 2024	7,385	13,209	477,890

Company

The company had no tangible fixed assets as at 31 March 2025 or 31 March 2024.

13. Investments

Group

	Subsidiaries	Unlisted	Total
	£	£	£
Cost or Valuation
As at 1 April 2024	(99 )	25	(74 )
Additions	99	-	99

As at 31 March 2025	-	25	25

Provision
As at 1 April 2024	-	-	-

As at 31 March 2025	-	-	-

Net Book Value
As at 31 March 2025	-	25	25

As at 1 April 2024	(99 )	25	(74 )

Page 21

Page 22

Air Temp Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Company

	Subsidiaries
	£
Cost or Valuation
As at 1 April 2024	327
Additions	99

As at 31 March 2025	426

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	426

As at 1 April 2024	327

14. Stocks

	2025	2024
	£	£
Stock	22,551	9,250
Work in progress	-	27,750

	22,551	37,000

15. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Due within one year
Trade debtors	2,753,382	2,267,942	-	-
Prepayments and accrued income	40,503	23,702	-	-
Other debtors	671,164	361,197	19,075	19,694
Corporation tax recoverable assets	109,377	-	-	-
VAT	260,481	36,267	-	-
Amounts owed by subsidiaries	-	-	463,932	1,168,650
Amounts owed by other participating interests	99	-	-	-

	3,835,006	2,689,108	483,007	1,188,344

Page 22

Page 23

Air Temp Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

16. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	134,651	125,203	-	-
Trade creditors	3,809,292	1,599,388	-	-
Bank loans and overdrafts	20,466	20,207	-	-
Corporation tax	43,347	545,282	-	-
Other creditors	587,202	224,006	-	-
Accruals and deferred income	16,442	4,216	4,500	-
Director's loan account	730	-	-	-
Amounts owed to parent undertaking	99	-	-	-

	4,612,229	2,518,302	4,500	-

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

	Group
	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	274,692	204,511
Bank loans	3,437	23,899

	278,129	228,410

18. Loans

An analysis of the maturity of loans is given below:

	Group
	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	20,466	20,207

	Group
	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	3,437	23,899

19. Obligations Under Finance Leases and Hire Purchase

	Group
	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	134,651	125,203
Later than one year and not later than five years	274,692	204,511

	409,343	329,714

	409,343	329,714

Page 23

Page 24

Air Temp Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

20. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

21. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £121,447 (2024: £156,183).

At the balance sheet date contributions of £4,601 (2024: £9,153) were due to the fund and are included in creditors.

22. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	397,782	327,343

23. Related Party Disclosures

The group has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

Page 24

Director	Mr P B Sainty

Company Number	12504237

Registered Office	Unit 5 Manor Court
	Priory Park East
	Hull
	East Yorkshire
	HU4 7DX

Accountants	360 Accountants Limited
	19 Albion Street
	Hull
	East Yorkshire
	HU1 3TG

Auditors	Jacksons Chartered Accountants
	First Floor, Albion House
	Albion Street
	Hull
	East Yorkshire
	HU1 3TE

Bankers	Barclays Bank
	1/5 King Edward Street
	Hull
	East Yorkshire
	HU1 3RL