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REGISTERED NUMBER: 12140802 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

RED THISTLE PROPERTY LIMITED

RED THISTLE PROPERTY LIMITED (REGISTERED NUMBER: 12140802)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RED THISTLE PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: E J Davies
J Simpson





REGISTERED OFFICE: Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA





BUSINESS ADDRESS: Flat 8
Priors Lodge
Pitville Circus
Cheltenham
Gloucestershire
GL52 2PX





REGISTERED NUMBER: 12140802 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

RED THISTLE PROPERTY LIMITED (REGISTERED NUMBER: 12140802)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 303 575
Investment property 5 166,000 145,000
166,303 145,575

CURRENT ASSETS
Cash at bank 8,888 6,681

CREDITORS
Amounts falling due within one year 6 45,810 45,161
NET CURRENT LIABILITIES (36,922 ) (38,480 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

129,381

107,095

CREDITORS
Amounts falling due after more than one
year

7

(90,000

)

(90,000

)

PROVISIONS FOR LIABILITIES (8,723 ) (3,473 )
NET ASSETS 30,658 13,622

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 30,558 13,522
30,658 13,622

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

RED THISTLE PROPERTY LIMITED (REGISTERED NUMBER: 12140802)

BALANCE SHEET - continued
31 AUGUST 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:




J Simpson - Director



E J Davies - Director


RED THISTLE PROPERTY LIMITED (REGISTERED NUMBER: 12140802)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Red Thistle Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provision 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost

Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss over the expected useful lives of the assets to which they relate. Government grants which are not directly attributable to fixed assets are recognised in the profit and loss in accordance with the accruals method in line with FRS 102.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

RED THISTLE PROPERTY LIMITED (REGISTERED NUMBER: 12140802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Going concern
There are no material uncertainties that may cast significant doubt about the company's ability to continue
as a going concern

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2022
and 31 August 2023 825
DEPRECIATION
At 1 September 2022 250
Charge for year 272
At 31 August 2023 522
NET BOOK VALUE
At 31 August 2023 303
At 31 August 2022 575

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 145,000
Revaluations 21,000
At 31 August 2023 166,000
NET BOOK VALUE
At 31 August 2023 166,000
At 31 August 2022 145,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2023 166,000

The investment property was valued by the directors. The valuation was based on current market value.

RED THISTLE PROPERTY LIMITED (REGISTERED NUMBER: 12140802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 119
Directors' current accounts 44,232 43,608
Accruals and deferred income 1,578 1,434
45,810 45,161

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years - 90,000
Bank loans more 5 yrs non-inst 90,000 -
90,000 90,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 90,000 -

8. SECURED DEBTS

The company has a charge registered with Monmouthshire Building Society over the investment property. The charge contains floating charge(s) which covers all the property or undertaking of the company. The charge also contains a negative pledge.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
E J Davies
Balance outstanding at start of year (6,804 ) (6,492 )
Amounts repaid (312 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,116 ) (6,804 )

J Simpson
Balance outstanding at start of year (36,804 ) (36,492 )
Amounts repaid (312 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (37,116 ) (36,804 )

No interest has been charged on the balances and there are no set repayment terms.