THORMER Solutions Ltd - Accounts to registrar (filleted) - small 23.2.5
THORMER Solutions Ltd - Accounts to registrar (filleted) - small 23.2.5
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2023 |
FOR |
THORMER SOLUTIONS LTD |
THORMER SOLUTIONS LTD (REGISTERED NUMBER: 13849866) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THORMER SOLUTIONS LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
York House |
Market Place |
Leyburn |
North Yorkshire |
DL8 5AT |
THORMER SOLUTIONS LTD (REGISTERED NUMBER: 13849866) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Profit and loss account | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
THORMER SOLUTIONS LTD (REGISTERED NUMBER: 13849866) |
BALANCE SHEET - continued |
31 MARCH 2023 |
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 |
THORMER SOLUTIONS LTD (REGISTERED NUMBER: 13849866) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
THORMER Solutions Ltd is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
INTANGIBLE ASSETS |
Intangible assets are initially measured at cost. Development costs have been capitalised as the costs can be reliably measured and the asset is ready to generate income. |
Patents and licenses are then amortised on a reducing balance basis at a rate of 25%. |
Development costs are not amortised. |
TAXATION |
Taxation for the period 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 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. |
GOVERNMENT GRANTS |
Grants receivable in relation to profit and loss expenditure are credited to the profit & loss in the year for which they relate. |
THORMER SOLUTIONS LTD (REGISTERED NUMBER: 13849866) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Patents |
and | Development |
licences | costs | Totals |
£ | £ | £ |
COST |
At 1 February 2023 |
Additions |
At 31 March 2023 |
AMORTISATION |
Amortisation for period |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 January 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
THORMER SOLUTIONS LTD (REGISTERED NUMBER: 13849866) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 MARCH 2023 |
7. | CHAIRMAN'S REPORT |
During its startup year Thormer Solutions Ltd has undertaken a significant amount of research and development into the automation of building dimensioning and automated heat loss calculations amongst other things under the tradename of "heatly". |
Our income has been made up solely of grant funding for the "heatly" project and this funding is being provided through the DESNZ HPR2 programme, our costs are in line with the original proposed costs and grant received. |
Our future forecasts align with the original project costs and we are confident of that the project will be delivered on budget and without the company having to take on any debts. |