Thermofuse Pipelines Ltd - Filleted accounts

Registered number

03325359

Thermofuse Pipelines Ltd

Unaudited Filleted Accounts

31 March 2026

Thermofuse Pipelines Ltd
Registered number:		03325359
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		841,874			831,382

Current assets
Stocks		40,000			29,000
Debtors	4	1,477,028			1,529,875
Cash at bank and in hand		167,182			111,271
		1,684,210			1,670,146

Creditors: amounts falling due within one year	5	(781,873)			(803,456)

Net current assets			902,337			866,690

Total assets less current liabilities			1,744,211			1,698,072

Creditors: amounts falling due after more than one year	6		(110,204)			(215,036)



Net assets			1,634,007			1,483,036

Capital and reserves
Called up share capital			100			100
Revaluation reserve	7		123,174			123,174
Profit and loss account			1,510,733			1,359,762

Shareholders' funds			1,634,007			1,483,036

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




P Hurst
Director
Approved by the board on 17 June 2026

Thermofuse Pipelines Ltd
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			Not depreciated
	Plant and machinery			15% reducing balance
	Fixtures, fittings, tools and equipment			15% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					38		40


3	Tangible fixed assets
				Land and buildings		Plant and machinery etc		Total
£					£		£
	Cost
	At 1 April 2025			162,500		1,553,722		1,716,222
	Additions			-		160,478		160,478
	Disposals			-		(62,160)		(62,160)
	At 31 March 2026			162,500		1,652,040		1,814,540

	Depreciation
	At 1 April 2025			-		884,840		884,840
	Charge for the year			-		119,890		119,890
	On disposals			-		(32,064)		(32,064)
	At 31 March 2026			-		972,666		972,666

	Net book value
	At 31 March 2026			162,500		679,374		841,874
	At 31 March 2025			162,500		668,882		831,382


4	Debtors					2026		2025
£							£

	Trade debtors					915,460		971,004
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					500,228		476,660
	Other debtors					61,340		82,211
						1,477,028		1,529,875


5	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					96,903		95,040
	Obligations under finance lease and hire purchase contracts					99,430		91,168
	Trade creditors					461,230		495,830
	Taxation and social security costs					116,234		55,348
	Other creditors					8,076		66,070
						781,873		803,456


6	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					-		81,823
	Obligations under finance lease and hire purchase contracts					110,204		133,213
						110,204		215,036


7	Revaluation reserve					2026		2025
£							£

	At 1 April 2025					123,174		123,174

	At 31 March 2026					123,174		123,174


8	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Paul Hirst
	Loan account	6,183		-		(6,183)		-

		6,183		-		(6,183)		-


9	Related party transactions

	The company is a wholly owned subsidiary of Thermofuse Ltd. Thermofuse Pipelines Ltd paid rent in the sum of £42,000 under a 10 year lease.
10	Prior year adjustment

	During the preparation of the financial statements for the year ended 31 March 2026, the directors identified an error relating to the overstatement of a VAT debtor balance originating in the year ended 31 March 2021. The VAT debtor had been overstated by £123,881 due to amounts being incorrectly carried forward within the accounting records. The error has been corrected by restating the comparative figures for the year ended 31 March 2025 and adjusting opening reserves at 1 April 2024.




11	Controlling party

	The controlling party is Thermofuse Ltd.


12	Other information

	Thermofuse Pipelines Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 4 Brunel Park Industrial Estate
	Blyth Road
	Doncaster
	DN11 8RW