REGISTERED NUMBER: 02030221 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2025

for

S & C THERMOFLUIDS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A G Smith

SECRETARY:

S A Smith

REGISTERED OFFICE:

The Old Tannery

Kelston

Bath

Somerset

BA1 9AN

REGISTERED NUMBER:

02030221 (England and Wales)

ACCOUNTANTS:

Gravita

Chartered Accountants

2nd Floor, South

One Castle Park

Tower Hill

Bristol

BS2 0JA

FIXED ASSETS

Intangible assets

4

1,344

1,792

Tangible assets

5

60,588

75,023

Investments

6

50

50

61,982

76,865

CURRENT ASSETS

Debtors

7

139,090

350,754

Cash at bank and in hand

33,045

219,780

172,135

570,534

CREDITORS

Amounts falling due within one year

8

(90,454

)

(243,305

)

NET CURRENT ASSETS

81,681

327,229

TOTAL ASSETS LESS CURRENT LIABILITIES

143,663

404,094

CREDITORS

Amounts falling due after more than one year

9

-

(3,640

)

PROVISIONS FOR LIABILITIES

(9,829

)

(9,970

)

NET ASSETS

133,834

390,484

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

133,734

390,384

SHAREHOLDERS' FUNDS

133,834

390,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 27 August 2026 and were signed by:

A G Smith - Director

1.	COMPANY INFORMATION

S & C Thermofluids 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 company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information including annual budgets and future cash-flows in making their assessment. Based on these assessments, given the measures that could be undertaken, and current resources available, the directors have concluded that they are able to continue to adopt the going concern basis in prepared the financial statements.

Preparation of consolidated financial statements

The financial statements contain information about S & C Thermofluids Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents the income derived from the company's contracts. Income is recognised on the basis of the stage of completion of the contracts, including estimates in respect of amounts not invoiced.

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.

Patents and licences are being amortised at a rate of 25% on a reducing balance basis.

Tangible fixed assets

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

Fixtures and fittings

-

15% -25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised 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, which include trade and other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

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.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

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.

Long term contracts

Profit on long term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs. Turnover is calculated as that proportion of the total contract value which costs incurred to date bear to total expected costs for that contract. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Grants receivable

Revenue based grants are credited to the profit and loss account so as to match them with the expenditure to which they relate.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 December 2024

and 30 November 2025

105,840

AMORTISATION

At 1 December 2024

104,048

Charge for year

448

At 30 November 2025

104,496

NET BOOK VALUE

At 30 November 2025

1,344

At 30 November 2024

1,792

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 December 2024

26,763

116,538

143,301

Additions

5,002

-

5,002

At 30 November 2025

31,765

116,538

148,303

DEPRECIATION

At 1 December 2024

16,746

51,532

68,278

Charge for year

3,185

16,252

19,437

At 30 November 2025

19,931

67,784

87,715

NET BOOK VALUE

At 30 November 2025

11,834

48,754

60,588

At 30 November 2024

10,017

65,006

75,023

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 December 2024

and 30 November 2025

50

NET BOOK VALUE

At 30 November 2025

50

At 30 November 2024

50

The company owns 50% of the ordinary shares of S & C Thermofluids (Stobart Division) Limited, a company registered in England & Wales.

S & C Thermofluids (Stobart Division) Limited has a year end date of 31 July and the unaudited financial statements for the year ended 31 July 2025 show a Profit/(loss) after tax of (£28,662) (2024 - Profit/(loss) £2,438) and total shareholders' funds of £145,574 (2024 - £174,236).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

90,765

75,242

Amounts owed by participating interests

109

-

Amounts recoverable on contracts

40,000

126,000

Other debtors

4,040

4,800

Tax

-

142,836

VAT

2,300

-

Prepayments and accrued income

1,876

1,876

139,090

350,754

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

3,640

4,085

Trade creditors

42,799

113,450

Amounts owed to participating interests

-

55,044

Social security and other taxes

8,690

14,897

VAT

-

12,474

Other creditors

7,157

7,066

Directors' current accounts

18,139

26,662

Accrued expenses

10,029

9,627

90,454

243,305

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

3,640

10.	ULTIMATE CONTROLLING PARTY

The controlling party is A G Smith.