Thermotex Engineering Limited - Accounts to registrar (filleted)

FINANCIAL STATEMENTS

FOR THE PERIOD

13 AUGUST 2020 TO 31 DECEMBER 2021

FOR

THERMOTEX ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Herr M A Hess

REGISTERED OFFICE:

5th Floor

Waverley House

115-119 Holdenhurst Road

Bournemouth

Dorset

BH8 8DY

REGISTERED NUMBER:

12809845 (England and Wales)

SENIOR STATUTORY AUDITOR:

I M Legg FCCA ACA

AUDITORS:

Schofields

Chartered Accountants and Statutory Auditors

5th Floor

Waverley House

115 - 119 Holdenhurst Road

Bournemouth

Dorset

BH8 8DY

CURRENT ASSETS

Cash at bank

4,706

CREDITORS

Amounts falling due within one year

7

(4,705

)

NET CURRENT ASSETS

1

TOTAL ASSETS LESS CURRENT LIABILITIES

1

CAPITAL AND RESERVES

Called up share capital

8

1

SHAREHOLDERS' FUNDS

1

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 10 August 2022 and were signed by:

Herr M A Hess - Director

1.	STATUTORY INFORMATION

Thermotex Engineering 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of goods, excluding value added tax, and is recognised on delivery of the goods.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

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.

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

-

15% on reducing balance

Taxation

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

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.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured as amortised cost using the effective interest rate method, less impairment.

3.

4.

GOING CONCERN

The company ceased to trade on 1 January 2021 and transferred its operations to fellow subsidiary Intertec Thermotex Limited. The Director shall shortly commence proceedings for the dissolution of the company and therefore the accounts have been prepared on a basis other than that of a going concern. No provision has been made in respect of the costs of winding up.

EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

305,000

Goodwill transferred to fellow subsidiary

(305,000

)

At 31 December 2021

-

AMORTISATION

Amortisation for period

10,000

Eliminated on transfer to fellow subsidiary

(10,000

)

At 31 December 2021

-

NET BOOK VALUE

At 31 December 2021

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

Additions

200,000

Disposals

(200,000

)

At 31 December 2021

-

DEPRECIATION

Charge for period

2,878

Eliminated on disposal

(2,878

)

At 31 December 2021

-

NET BOOK VALUE

At 31 December 2021

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

2,055

Other creditors

2,650

4,705

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1p

1

100 Ordinary shares of 1p were issued during the period for cash of £ 1 .

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

I M Legg FCCA ACA (Senior Statutory Auditor)

for and on behalf of Schofields

The report of the Auditors contained the following emphasis of matter:

Emphasis of matter - Preparation on a basis other than going concern

We draw attention to Note 3 to the financial statements which explains that the Director intends to dissolve the company and therefore does not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 3.

Our opinion is not modified in respect of this matter.

10.	ULTIMATE PARENT COMPANY

The Company is a wholly owned subsidiary of Intertec-Hess GmbH, a company incorporated in Germany.The registered office is Raffineriestrasse 8, D-93333 Neustadt/Donau, Bayern.

Thermotex Engineering Limited - Accounts to registrar (filleted) - small 18.2

Thermotex Engineering Limited - Accounts to registrar (filleted) - small 18.2