Thermokil International Ltd - Filleted accounts

Thermokil International Ltd - Filleted accounts


Thermokil International Ltd
Unaudited Filleted Accounts
31 December 2017
Registered number
10660992
Thermokil International Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Thermokil International Ltd for the period ended 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Thermokil International Ltd for the period ended 31 December 2017 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Thermokil International Ltd, as a body, in accordance with the terms of our engagement letter dated 4 March 2018. Our work has been undertaken solely to prepare for your approval the accounts of Thermokil International Ltd and state those matters that we have agreed to state to the Board of Directors of Thermokil International Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thermokil International Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Thermokil International Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Thermokil International Ltd. You consider that Thermokil International Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Thermokil International Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
P W Accountants Ltd
Chartered Accountants
82b High Street
Sawston
Cambs
CB22 3HJ
26 March 2018
Thermokil International Ltd
Registered number: 10660992
Balance Sheet
as at 31 December 2017
Notes 2017
£
Current assets
Debtors 4 1,983
Cash at bank and in hand 13,894
15,877
Creditors: amounts falling due within one year 5 (3,536)
Net current assets 12,341
Net assets 12,341
Capital and reserves
Called up share capital 100
Profit and loss account 12,241
Shareholder's funds 12,341
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Hammond
Director
Approved by the board on 26 March 2018
Thermokil International Ltd
Notes to the Accounts
for the period from 9 March 2017 to 31 December 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Taxation 2017
£
Corporation tax 2,886
2,886
3 Employees 2017
Number
Average number of persons employed by the company 1
4 Debtors 2017
£
Directors loan account 100
VAT debtor 1,883
1,983
5 Creditors: amounts falling due within one year 2017
£
Corporation tax 2,886
Other creditors 650
3,536
6 Related party transactions
Mr D Hammond is a director and majority shareholder in Organic Pest Control Limited, and Themokil Ltd. Mr D Hammond is also a director of Thermokil Insect Control Services Ltd. All companies are registered in the UK.
7 Other information
Thermokil International Ltd is a private company limited by shares and incorporated in England. Its registered office is:
82b High Street
Sawston
Cambs
CB22 3HJ
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