Thermatic Technical FM Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10650952 (England and Wales)

THERMATIC TECHNICAL FM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 3 MARCH 2017 TO 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Holland

L Morgan

C R Tennent

R Worswick

REGISTERED OFFICE:

Unit 3, Sovereign Business Park

King William Street

Salford

M50 3UP

REGISTERED NUMBER:

10650952 (England and Wales)

ACCOUNTANTS:

Clarke Nicklin LLP

Chartered Accountants

Clarke Nicklin House

Brooks Drive

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3TD

FIXED ASSETS

Intangible assets

4

340,534

CURRENT ASSETS

Debtors

5

1,009,714

Cash at bank and in hand

9,667

1,019,381

CREDITORS

Amounts falling due within one year

6

1,065,213

NET CURRENT LIABILITIES

(45,832

)

TOTAL ASSETS LESS CURRENT LIABILITIES

294,702

CREDITORS

Amounts falling due after more than one year

7

324,672

NET LIABILITIES

(29,970

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(29,971

)

(29,970

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 26 September 2018 and were signed on its behalf by:

C R Tennent - Director

1.	STATUTORY INFORMATION

Thermatic Technical FM 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling (£).

Going concern

The company made a loss for the period of £29,338, as at 31 December 2017 had net current liabilities

of £294,702 and its liabilities exceeded its assets by £29,970. The company relies on the financial

support of its related parties. If the company was unable to continue in operational existence for the

foreseeable future, adjustments would have to be made to reduce the balance sheet values to their

recoverable amount and to provide for future liabilities that may arise and to reclassify fixed assets as

current assets.

The directors are of the opinion that it is appropriate to prepare the financial statements on a going

concern basis. The financial statements do not include any adjustments that would result, should

funding not be available or be insufficient and if the company was unable to continue as a going

concern.

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

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, 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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 38 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 3 March 2017

-

3,706

3,706

Additions

374,672

-

374,672

At 31 December 2017

374,672

3,706

378,378

AMORTISATION

Charge for period

37,467

377

37,844

At 31 December 2017

37,467

377

37,844

NET BOOK VALUE

At 31 December 2017

337,205

3,329

340,534

At 2 March 2017

-

3,706

3,706

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

845,292

Deferred tax asset

133,399

Prepayments and accrued income

31,023

1,009,714

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

235,260

Amounts owed to group undertakings

531,192

Social security and other taxes

164,192

Other creditors

134,569

1,065,213

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Amounts owed to group undertakings

324,672

8.	DEFERRED TAX

£

Charge to Income Statement during period

633

Transferred from related party

(134,032

)

Balance at 31 December 2017

(133,399

)

The provision for deferred taxation is made up as follows

2017

£

Accelerated capital allowances

633

Tax losses carried forward

(134,032

)

(133,399

)

9.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Thermatic Limited, a company controlled by Dr and Mrs R J

Wratten.