Thermatic Technical FM Limited - Accounts to registrar (filleted) - small 18.2
Thermatic Technical FM Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| THERMATIC TECHNICAL FM LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| THERMATIC TECHNICAL FM LIMITED (REGISTERED NUMBER: 10650952) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| THERMATIC TECHNICAL FM LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Clarke Nicklin House |
| Brooks Drive |
| Cheadle Royal Business Park |
| Cheadle |
| Cheshire |
| SK8 3TD |
| THERMATIC TECHNICAL FM LIMITED (REGISTERED NUMBER: 10650952) |
| BALANCE SHEET |
| 31 DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| 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. |
| THERMATIC TECHNICAL FM LIMITED (REGISTERED NUMBER: 10650952) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| THERMATIC TECHNICAL FM LIMITED (REGISTERED NUMBER: 10650952) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Thermatic Technical FM Limited is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in Sterling (£). |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 |
| 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related |
| party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Goodwill |
| 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. |
| Computer software is being amortised evenly over its estimated useful life of 10 years. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of |
| Income and Retained Earnings, 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. |
| THERMATIC TECHNICAL FM LIMITED (REGISTERED NUMBER: 10650952) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| THERMATIC TECHNICAL FM LIMITED (REGISTERED NUMBER: 10650952) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial assets |
| Basic financial assets, including trade debtors, cash and bank balances and amounts owed by group |
| undertakings, are initially recognised at transaction price, 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. |
| Such assets are subsequently carried at amortised cost using the effective interest method. |
| At the end of each reporting period, financial assets measured at amortised cost are assessed for |
| objective evidence of impairment. If an asset is impaired, the impairment loss is the difference |
| between the carrying amount and the present value of the estimated cash flows discounted at the |
| asset's original effective interest rate. The impairment loss is recognised in the income statement. |
| If there is a decrease in the the impairment loss arising from an event occurring after the impairment |
| was recognised, the impairment is reversed. The reversal is such that the current carrying amount |
| does not exceed what the carrying amount would have been had the impairment not previously been |
| recognised. The impairment reversal is recognised in the income statement. |
| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset |
| expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are |
| transferred to another party, or (c) control of the asset has been transferred to another party who has |
| the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional |
| restrictions. |
| Financial Liabilities |
| Basic financial liabilities, including trade creditors and amounts owed to group undertakings, 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 receipts discounted at a market rate of |
| interest. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary |
| course of business from suppliers. Trade creditors 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 method. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual |
| obligation is discharged, cancelled or expires. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| THERMATIC TECHNICAL FM LIMITED (REGISTERED NUMBER: 10650952) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 4. | INTANGIBLE FIXED ASSETS |
| Computer |
| Goodwill | software | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| and 31 December 2018 |
| AMORTISATION |
| At 1 January 2018 |
| Amortisation for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| Additions |
| At 31 December 2018 |
| DEPRECIATION |
| Charge for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Deferred tax asset |
| Prepayments and accrued income |
| THERMATIC TECHNICAL FM LIMITED (REGISTERED NUMBER: 10650952) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Amounts owed to group undertakings |
| 9. | DEFERRED TAX |
| £ |
| Balance at 1 January 2018 | ( |
) |
| Charge to Income Statement during year |
| Balance at 31 December 2018 | ( |
) |
| The provision for deferred taxation is made up as follows |
| 2018 | 2017 |
| £ | £ |
| Accelerated capital allowances | 4,885 | 633 |
| Tax losses carried forward | (98,999 | ) | (134,032 | ) |
| (94,114 | ) | (133,399 | ) |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent undertaking is Thermatic Limited, a company controlled by Dr and Mrs R J |
| Wratten. |