REGISTERED NUMBER: 01280983 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

THERMOGRAVE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L Gilmartin

Mrs H Widdowson

A Gilmartin

SECRETARY:

Mrs H Widdowson

REGISTERED OFFICE:

171 Scudamore Road

Leicester

LE3 1UQ

REGISTERED NUMBER:

01280983 (England and Wales)

ACCOUNTANTS:

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

FIXED ASSETS

Tangible assets

4

324,016

392,470

CURRENT ASSETS

Stocks

58,866

31,001

Debtors

5

1,012,042

1,112,573

Cash at bank and in hand

1,046,556

1,767,190

2,117,464

2,910,764

CREDITORS

Amounts falling due within one year

6

655,580

686,126

NET CURRENT ASSETS

1,461,884

2,224,638

TOTAL ASSETS LESS CURRENT LIABILITIES

1,785,900

2,617,108

CREDITORS

Amounts falling due after more than one year

7

(95,060

)

(137,099

)

PROVISIONS FOR LIABILITIES

9

(64,144

)

(80,180

)

NET ASSETS

1,626,696

2,399,829

CAPITAL AND RESERVES

Called up share capital

10

5,200

5,200

Retained earnings

11

1,621,496

2,394,629

SHAREHOLDERS' FUNDS

1,626,696

2,399,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2026 and were signed on its behalf by:

L Gilmartin - Director

A Gilmartin - Director

Mrs H Widdowson - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover

Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities. The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Property Improvements

-

15% on reducing balance

Plant and fixtures

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets

Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities

The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies

The financial statements are presented in GBP, being both the company's functional and presentation currency. Transactions denominated in foreign currencies are translated into GBP at the rates of exchange in operation on the dates of the transactions. Monetary assets and liabilities expressed in foreign currencies are translated into GBP at the rates of exchange prevailing at the date of the Statements of Financial Position. Translation differences are dealt with through the Statement of Comprehensive Income in the period in which they arise.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2025 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Property

Plant and

Motor

Office

Improvements

fixtures

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

23,520

882,124

242,088

74,717

1,222,449

Additions

-

2,500

-

-

2,500

At 31 March 2026

23,520

884,624

242,088

74,717

1,224,949

DEPRECIATION

At 1 April 2025

23,057

637,412

107,602

61,908

829,979

Charge for year

108

28,089

40,695

2,062

70,954

At 31 March 2026

23,165

665,501

148,297

63,970

900,933

NET BOOK VALUE

At 31 March 2026

355

219,123

93,791

10,747

324,016

At 31 March 2025

463

244,712

134,486

12,809

392,470

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

fixtures

vehicles

Totals

£

£

£

COST

At 1 April 2025

and 31 March 2026

105,237

151,990

257,227

DEPRECIATION

At 1 April 2025

64,326

53,079

117,405

Charge for year

6,137

26,006

32,143

At 31 March 2026

70,463

79,085

149,548

NET BOOK VALUE

At 31 March 2026

34,774

72,905

107,679

At 31 March 2025

40,911

98,911

139,822

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

703,237

823,027

Amounts owed by group undertakings

235,955

235,955

Prepayments

72,850

53,591

1,012,042

1,112,573

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

41,683

41,327

Trade creditors

172,488

277,983

Tax

144,295

170,661

Social security and other taxes

23,527

25,473

Pension control

2,341

2,010

VAT

156,865

105,716

Other creditors

576

1,138

Directors' current accounts

45,045

25,198

Accrued expenses

68,760

36,620

655,580

686,126

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Hire purchase contracts

95,060

137,099

8.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Hire purchase contracts

136,743

178,426

9.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

64,144

80,180

Deferred

tax

£

Balance at 1 April 2025

80,180

Credit to Income Statement during year

(16,036

)

Balance at 31 March 2026

64,144

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

5,000

Ordinary

£1

5,000

5,000

100

A Ordinary

£1

100

100

100

B Ordinary

£1

100

100

5,200

5,200

11.

RESERVES

Retained

earnings

£

At 1 April 2025

2,394,629

Profit for the year

380,167

Dividends

(1,153,300

)

At 31 March 2026

1,621,496

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2026 and 31 March 2025:

2026

2025

£

£

A Gilmartin

Balance outstanding at start of year

(12,684

)

(2,870

)

Amounts advanced

22,964

16,186

Amounts repaid

(30,000

)

(26,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(19,720

)

(12,684

)

L Gilmartin

Balance outstanding at start of year

(374

)

(106

)

Amounts advanced

30,115

25,732

Amounts repaid

(30,000

)

(26,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(259

)

(374

)

Mrs H Widdowson

Balance outstanding at start of year

(12,141

)

(5,855

)

Amounts advanced

17,074

14,714

Amounts repaid

(30,000

)

(21,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(25,067

)

(12,141

)

13.	OPERATING COMMITMENTS

The company had annual commitments under non-cancellable operating leases with respect to property, expiring within 2-5 years amounting to £162,360 (2025 £158,232) and with respect to plant and equipment, expiring within two to five years, of £1,284 (2025 £1,284).

14.	ULTIMATE CONTROLLING PARTY

The ultimate holding company is HAL Holding Limited, a company registered in England and Wales. Mr A Gilmartin, Mr L Gilmartin and Mrs H Widdowson directors of HAL Holdings Limited, act as the controlling party, by reason of their controlling interest in that company's share capital.