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REGISTERED NUMBER: SC324321 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Thistle Help Limited

Thistle Help Limited (Registered number: SC324321)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thistle Help Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Laura Hays
George Ruddick





SECRETARY: Laura Hays





REGISTERED OFFICE: 15 Portland Avenue
Irvine
KA12 8NL





REGISTERED NUMBER: SC324321 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Thistle Help Limited (Registered number: SC324321)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,882 10,324
Tangible assets 5 34,278 34,911
41,160 45,235

CURRENT ASSETS
Stocks 106,195 95,615
Debtors 6 55,379 70,466
Cash at bank and in hand 87,247 22,508
248,821 188,589
CREDITORS
Amounts falling due within one year 7 197,588 175,885
NET CURRENT ASSETS 51,233 12,704
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,393

57,939

CREDITORS
Amounts falling due after more than one
year

8

(13,661

)

(23,153

)

PROVISIONS FOR LIABILITIES (8,569 ) (6,913 )
NET ASSETS 70,163 27,873

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 70,061 27,771
SHAREHOLDERS' FUNDS 70,163 27,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Thistle Help Limited (Registered number: SC324321)

Balance Sheet - continued
31 May 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:




George Ruddick - Director



Laura Hays - Director


Thistle Help Limited (Registered number: SC324321)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Thistle Help Limited is a private company, limited by shares , registered in Scotland. 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 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.

Going concern

The directors review the operating requirements of the business on a regular basis taking account of existing resources as well as trading performance. All of this is done to ensure as far as is possible that the business has adequate funds to meet commitments as they fall due. Having carried out this exercise the directors are satisfied that the accounts may be prepared on a going concern basis.

Turnover/revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities.

Sales are presented, net of value-added tax, rebates and discounts.

The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met.

Goodwill
Goodwill arising on an acquisition of a trade is the difference between the fair value of the consideration paid and the fair value of the assets and liabilities acquired. Positive goodwill is capitalised and amortised through the profit and loss account over the director's estimate of its useful economic life which is 5 years. Impairment tests on the carrying value of goodwill are undertaken;

- at the end of the first full financial year following acquisition;
- in other period if events or changes in circumstances indicate that the carrying value may not be recoverable.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

Thistle Help Limited (Registered number: SC324321)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Taxation
Taxation for the year 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 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.

Hire purchase and leasing commitments
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account over the shorter of estimated useful economic life and the period of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease.

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Thistle Help Limited (Registered number: SC324321)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 17,208
AMORTISATION
At 1 June 2023 6,884
Charge for year 3,442
At 31 May 2024 10,326
NET BOOK VALUE
At 31 May 2024 6,882
At 31 May 2023 10,324

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 35,198 1,868 22,990 26,424 86,480
Additions - - 8,750 - 8,750
Disposals (470 ) - - - (470 )
At 31 May 2024 34,728 1,868 31,740 26,424 94,760
DEPRECIATION
At 1 June 2023 17,260 1,364 9,773 23,172 51,569
Charge for year 3,495 126 4,216 1,084 8,921
Eliminated on disposal (8 ) - - - (8 )
At 31 May 2024 20,747 1,490 13,989 24,256 60,482
NET BOOK VALUE
At 31 May 2024 13,981 378 17,751 2,168 34,278
At 31 May 2023 17,938 504 13,217 3,252 34,911

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,411 28,405
Other debtors 36,968 42,061
55,379 70,466

Thistle Help Limited (Registered number: SC324321)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,583 25,971
Trade creditors 116,495 96,101
Taxation and social security 24,766 5,397
Other creditors 30,744 48,416
197,588 175,885

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,661 23,153

The bank loan is secured and repayable by 60 equal monthly instalments one year after draw down. Interest is chargeable at a commercial rate of interest.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 5,513

Operating lease commitments represent the total payable over the entire period of the lease agreement for the property.

10. CONTROLLING PARTY

The company is under the control of the director Mr G Ruddick due to his majority shareholding in the company.