REGISTERED NUMBER: 02559655 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

THERMOTECH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr N J Saunders

SECRETARY:

Dr N J Saunders

REGISTERED OFFICE:

Surrey Technology Centre

40 Occam Road

Surrey Research Park

Guildford

Surrey

GU2 7YG

REGISTERED NUMBER:

02559655 (England and Wales)

ACCOUNTANTS:

Stewart & Co Accountants LLP

Chartered Accountants

Knoll House

Knoll Road

Camberley

Surrey

GU15 3SY

FIXED ASSETS

Tangible assets

5

708

-

Investments

6

1,177,250

1,177,250

1,177,958

1,177,250

CURRENT ASSETS

Debtors

7

344,492

236,465

Cash at bank and in hand

639,781

637,323

984,273

873,788

CREDITORS

Amounts falling due within one year

8

65,903

69,733

NET CURRENT ASSETS

918,370

804,055

TOTAL ASSETS LESS CURRENT LIABILITIES

2,096,328

1,981,305

CAPITAL AND RESERVES

Called up share capital

900

900

Capital redemption reserve

100

100

Retained earnings

2,095,328

1,980,305

SHAREHOLDERS' FUNDS

2,096,328

1,981,305

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 director acknowledges his 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 director and authorised for issue on 22 July 2026 and were signed by:

Dr N J Saunders - Director

1.	STATUTORY INFORMATION

Thermotech 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

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

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of the financial statements. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Revenue represents net invoiced sales of goods and services, excluding value added tax. Revenue for annual licences is spread over the period of the licence, on a straight line basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Investments

Investments in subsidiaries, joint ventures, and associates are held at historical cost less any provision for impairment. The cost of an investment includes the original purchase price and directly attributable transaction costs. The director reviews carrying values annually for any indicators of impairment, and any resulting write-downs are recognized immediately in the income statement.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Equity instruments

Equity instruments issued by the company are recorded at proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the average rate for the year. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets acquired under finance leases and hire purchase contracts are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method.

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

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

6,473

Additions

709

Disposals

(3,551

)

At 31 March 2026

3,631

DEPRECIATION

At 1 April 2025

6,473

Eliminated on disposal

(3,550

)

At 31 March 2026

2,923

NET BOOK VALUE

At 31 March 2026

708

6.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 April 2025

and 31 March 2026

1,177,250

NET BOOK VALUE

At 31 March 2026

1,177,250

At 31 March 2025

1,177,250

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

344,492

236,465

Included in other debtors are loans totalling £343,521 (2025 : £234,750) due from a company where the director holds an interest. These loans are provided at a non-market rate of interest and have no fixed repayment date.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Taxation and social security

56,697

60,852

Other creditors

9,206

8,881

65,903

69,733

9.	RELATED PARTY DISCLOSURES

During the year ended 31 March 2026 the company received £284,719 (2025 : £297,757) of database fees and £52,727 (2025 : £52,728) of consultancy fees from a connected company.

During the year ended 31 March 2026 the company paid £18,601 (2025 : £17,715) of rental costs to a connected company.