REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2023 |
for |
Thistledown Investment Management Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2023 |
for |
Thistledown Investment Management Ltd |
Thistledown Investment Management Ltd (Registered number: 07003514) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Thistledown Investment Management Ltd |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Vine Hall Farm |
Bethersden |
Ashford |
Kent |
TN26 3JY |
Thistledown Investment Management Ltd (Registered number: 07003514) |
Balance Sheet |
31 January 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Thistledown Investment Management Ltd (Registered number: 07003514) |
Balance Sheet - continued |
31 January 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Thistledown Investment Management Ltd (Registered number: 07003514) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | ACCOUNTING POLICIES |
General information |
Thistledown Investment Management Limited is a private company limited by shares, registered and incorporated in England and Wales. |
Statement of Compliance |
The financial statements have been prepared in accordance with FRS 102, Section 1A, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" . |
Basis of preparation |
The financial statements have been prepared under the historical cost convention. |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. |
Impairment |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
Financial instruments |
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. The company considers all it's financial assets and liabilities to |
be basic financial instruments as defined by FRS102. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments |
discounted at a market rate of interest for a similar debt instrument. |
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement immediately. |
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
Any reversals of impairment are recognised in the income statement immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
Defined contribution plans |
Thistledown Investment Management Ltd (Registered number: 07003514) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. |
Fair values |
Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction. |
Turnover |
Turnover represents amounts chargeable to clients in respect of the provision of professional services during the year. The company recognises income at the point where it obtains the right to consideration. Amounts unbilled at the year end are included within trade debtors. The excess of the right to consideration over invoiced amounts is shown within other creditors. |
Tangible fixed assets |
Improvements to property | - |
Computer equipment | - |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
3. | TANGIBLE FIXED ASSETS |
Improvements |
to | Computer |
property | equipment | Totals |
£ | £ | £ |
COST |
At 1 February 2022 |
Additions |
At 31 January 2023 |
DEPRECIATION |
At 1 February 2022 |
Charge for year |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
Thistledown Investment Management Ltd (Registered number: 07003514) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
Additions |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
During the year, one director received advances totalling £8,788. The loan amount was fully repaid in September 2023. |
8. | ULTIMATE CONTROLLING PARTY |
The company is controlled jointly by J D M Fisher and Mrs C M Fisher. |