TI_THERMAL_IMAGING_LIMITED_31_May_2025_companies_house_set_of

		2025	2024
Fixed assets
Tangible assets	6	19,782		10,346
Investments	7	214,054		153,762
		233,836		164,108
Current assets
Debtors	8	203,000		201,648
Cash at bank and in hand		87,633		94,415
		290,633		296,063
Creditors: amounts falling due within one year	9	(199,979	)	(162,487	)
Net current assets		90,654		133,576
Total assets less current liabilities		324,490		297,684
Provisions for liabilities		(3,758	)	(1,881	)
Net assets		320,732		295,803
Capital and reserves
Called up share capital		100		100
Profit and loss account		320,632		295,703
Shareholders funds		320,732		295,803

T.I. Thermal Imaging Limited

Notes to the Financial Statements

Year ended

31 May 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

The Atrium

Curtis Road

Dorking

Surrey

RH4 1XA

, England.

2 Statement of compliance

These

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

financial statements

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

The

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.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation 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.

Amortisation 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:

Development costs

10% straight line

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.

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:

Plant and machinery	20% reducing balance
Fixtures, fittings and equipment	10% reducing balance

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.

All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

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.

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:

6.00

5 Intangible assets

	Other intangible assets
	£
Cost
At 1 June 2024 and 31 May 2025	176,774
Amortisation
At 1 June 2024 and 31 May 2025	176,774
Carrying amount
At 31 May 2025	-
At 31 May 2024	-

Intangible assets held at valuation

In respect of intangible assets other than goodwill held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:

	2025	2024
	£	£
Aggregate historical cost	176,774	176,774
Aggregate amortisation	176,774	176,774
Carrying amount	-	-

6 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 June 2024	163,705
Additions	12,022
At 31 May 2025	175,727
Depreciation
At 1 June 2024	153,359
Charge	2,586
At 31 May 2025	155,945
Carrying amount
At 31 May 2025	19,782
At 31 May 2024	10,346

7 Investments

	Shares in group undertakings and participating interests	Other investments other than loans	Total
	£	£	£
Cost
At 1 June 2024	25,860	127,902	153,762
Additions	-	60,292	60,292
At 31 May 2025	25,860	188,194	214,054
Impairment
At 1 June 2024 and 31 May 2025	-	-	-
Carrying amount
At 31 May 2025	25,860	188,194	214,054
At 31 May 2024	25,860	127,902	153,762

8 Debtors

	2025	2024
	£	£
Trade debtors	130,161	120,606
Other debtors	72,839	81,042
	203,000	201,648

9 Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	14,676	16,463
Amounts owed to group undertakings and undertakings in which the company has a participating interest	123,752	89,341
Taxation and social security	52,341	45,578
Other creditors	9,210	11,105
	199,979	162,487

10 Director's advances, credit and guarantees

The director's overdrawn loan account was £52,450 (2024: £65,591).

11 Related party transactions

During the year the company entered into the following transactions with related parties:

	2025		2024
	£		£
Dividend paid to shareholder and director	-		1,020

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	6	19,782		10,346
Investments	7	214,054		153,762
		233,836		164,108
Current assets
Debtors	8	203,000		201,648
Cash at bank and in hand		87,633		94,415
		290,633		296,063
Creditors: amounts falling due within one year	9	(199,979	)	(162,487	)
Net current assets		90,654		133,576
Total assets less current liabilities		324,490		297,684
Provisions for liabilities		(3,758	)	(1,881	)
Net assets		320,732		295,803
Capital and reserves
Called up share capital		100		100
Profit and loss account		320,632		295,703
Shareholders funds		320,732		295,803