REGISTERED NUMBER: 09080287 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2025

FOR

THERMOTEC (UK) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Devenish

Mr R Devenish

Mr G Devenish

REGISTERED OFFICE:

53 Gildredge Road

Eastbourne

East Sussex

BN21 4SF

REGISTERED NUMBER:

09080287 (England and Wales)

ACCOUNTANTS:

Honey Barrett Limited

Chartered Accountants

53 Gildredge Road

Eastbourne

East Sussex

BN21 4SF

FIXED ASSETS

Intangible assets

5

6,704

3,975

Tangible assets

6

183,195

218,108

189,899

222,083

CURRENT ASSETS

Stocks

103,053

73,652

Debtors

7

1,502,832

1,353,109

Cash at bank

559,230

1,189,053

2,165,115

2,615,814

CREDITORS

Amounts falling due within one year

8

905,350

811,081

NET CURRENT ASSETS

1,259,765

1,804,733

TOTAL ASSETS LESS CURRENT LIABILITIES

1,449,664

2,026,816

CREDITORS

Amounts falling due after more than one year

9

40,680

115,984

NET ASSETS

1,408,984

1,910,832

CAPITAL AND RESERVES

Called up share capital

13

1,000

1,000

Capital redemption reserve

200,000

200,000

Retained earnings

1,207,984

1,709,832

SHAREHOLDERS' FUNDS

1,408,984

1,910,832

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 Profit And Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2026 and were signed on its behalf by:

Mr C Devenish - Director

1.	STATUTORY INFORMATION

Thermotec (UK) Ltd 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.

Turnover

Turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

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:

Goodwill - 20% straight line

Website - 20% straight line

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Equipment

-

25% on cost

All fixed assets are initially recorded at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit And Loss account, 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.

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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.

Amounts recoverable on contracts

It is standard practice in the construction industry for customers to hold back part of the consideration in the form of a retention. Retentions are then receivable, and recognised in amounts recoverable on contracts once work has been completed to a satisfactory standard and certain conditions are met.

Amounts recoverable on contracts have been recognised in the accounts at a conservative best estimate of retentions the company is entitled to receive. This is based upon work completed at the year end, and making allowance for remedial work and snagging.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 17 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

Website

Totals

£

£

£

COST

At 1 January 2025

326,000

3,975

329,975

Additions

-

3,975

3,975

At 31 December 2025

326,000

7,950

333,950

AMORTISATION

At 1 January 2025

326,000

-

326,000

Amortisation for year

-

1,246

1,246

At 31 December 2025

326,000

1,246

327,246

NET BOOK VALUE

At 31 December 2025

-

6,704

6,704

At 31 December 2024

-

3,975

3,975

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

16,551

6,109

298,756

27,747

349,163

Additions

1,406

-

25,446

4,905

31,757

Disposals

-

-

(19,137

)

-

(19,137

)

At 31 December 2025

17,957

6,109

305,065

32,652

361,783

DEPRECIATION

At 1 January 2025

5,639

4,932

97,742

22,742

131,055

Charge for year

2,906

295

51,171

3,552

57,924

Eliminated on disposal

-

-

(10,391

)

-

(10,391

)

At 31 December 2025

8,545

5,227

138,522

26,294

178,588

NET BOOK VALUE

At 31 December 2025

9,412

882

166,543

6,358

183,195

At 31 December 2024

10,912

1,177

201,014

5,005

218,108

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

Motor

vehicles

£

COST

At 1 January 2025

275,869

Additions

25,446

Disposals

(19,137

)

At 31 December 2025

282,178

DEPRECIATION

At 1 January 2025

77,720

Charge for year

50,455

Eliminated on disposal

(10,391

)

At 31 December 2025

117,784

NET BOOK VALUE

At 31 December 2025

164,394

At 31 December 2024

198,149

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

920,990

851,868

Amounts owed by group undertakings

170,700

-

Amounts receivable on contracts

280,261

251,102

Other debtors

41,569

143,815

VAT

60,838

62,836

Deferred tax asset

Accelerated capital allowances

1,679

444

Prepayments and accrued income

26,795

43,044

1,502,832

1,353,109

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

5,000

10,000

Hire purchase contracts and finance leases (see note 10)

93,691

62,689

Trade creditors

282,662

205,385

Corporation tax

216,333

309,012

PAYE and social security

19,893

13,696

Other creditors

21,019

73,773

Directors' current accounts

259,789

129,829

Accruals and deferred income

6,963

6,697

905,350

811,081

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

5,000

Hire purchase contracts and finance leases (see note 10)

40,680

110,984

40,680

115,984

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

2025

2024

2025

2024

£

£

£

£

Net obligations repayable:

Within one year

1,890

1,890

91,801

60,799

Between one and five years

19,921

21,812

20,759

89,172

21,811

23,702

112,560

149,971

Non-cancellable

operating leases

2025

2024

£

£

Within one year

130,568

137,729

Between one and five years

63,777

130,272

194,345

268,001

11.	REDEEMABLE SHARES

2025

2024

£

£

Redeemable A share

0.01

-

Redeemable B share

0.01

-

0.02

-

On 28 August 2025, the company issued 1 Redeemable A share and 1 Redeemable B share, each with a nominal value of £0.01. The shares are redeemable at the option of the holder. The shares are classified as financial liabilities and included within creditors.

12.	DEFERRED TAX

£

Balance at 1 January 2025

(444

)

Provided during year

(1,235

)

Balance at 31 December 2025

(1,679

)

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

15,000

Ordinary A

1p

150

300

15,000

Ordinary B

1p

150

300

15,000

Ordinary C

1p

150

100

15,000

Ordinary D

1p

150

100

15,000

Ordinary E

1p

150

100

15,000

Ordinary F

1p

150

100

2,500

Ordinary G

1p

25

-

2,500

Ordinary H

1p

25

-

2,500

Ordinary I

1p

25

-

2,500

Ordinary J

1p

25

-

1,000

1,000

On 29 August 2025, the company completed a share capital reorganisation involving the reclassification and redesignation of shares into various share classes. The reorganisation had no impact on the aggregate nominal value of the company's issued share capital or total shareholders' funds.

14.	RELATED PARTY DISCLOSURES

During the year, the company advanced loans to connected parties of a director. The balance outstanding at the year end was £27,484.05 (2025: £Nil). The loans are unsecured, repayable on demand and interest is charged at the HMRC official rate.