Registered number
03650397
Thistledown Investments Limited
Unaudited Filleted Accounts
31 December 2023
Thistledown Investments Limited
Registered number: 03650397
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 4 1 1
Current assets
Stocks 752 752
Debtors 5 11,619,253 10,978,433
Investments held as current assets 6 1,841,955 2,335,154
Cash at bank and in hand 7,825,160 4,419,579
21,287,120 17,733,918
Creditors: amounts falling due within one year 7 (18,925,205) (16,248,605)
Net current assets 2,361,915 1,485,313
Net assets 2,361,916 1,485,314
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,361,914 1,485,312
Shareholders' funds 2,361,916 1,485,314
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
A C Anderson
Director
Approved by the board on 25 September 2024
The notes on pages 2 to 5 form part of these financial statements.
Thistledown Investments Limited
Notes to the Accounts
for the year ended 31 December 2023
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).
The financial statements are presented in pound sterling
Going concern
Management assess the going concern of the entity on a routine basis. There has been nothing noted to suggest that the entity is unable to continue to trade for the 12 months following the signing of the financial statements.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance basis
Motor vehicles 25% reducing balance basis
Investments
Fixed asset investments are shown at cost less provision for impairment in value where permanent in the opinion of the directors. Current asset investments are stated at the lower of cost and net realisable value.
Stocks
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. 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.
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.
1 Accounting policies (continued)
Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, where transactions or events that result in an obligation to pay more or a right to pay less tax in the future have occurred by the balance sheet date with certain limited exceptions.
Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws enacted or subsequently enacted at the balance sheet date.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
Assets leased to customers under agreements which transfer substantially all the risks and rewards associated with ownership, other than legal title, are classified as finance leases. All other assets leased to customers are classified as operating lease assets.

The net investment in finance leases represents total minimum lease payments less gross earnings allocated to future periods. Income from finance leases is credited to the profit and loss account using the sum of digits method to give a constant periodic rate of return on the net investment.

Operating lease assets are reported at cost less depreciation as calculated using the depreciation rates stated above. Operating lease rentals are credited to profit and loss account on a receivable basis over the term of the lease.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 22,923
At 31 December 2023 22,923
Depreciation
At 1 January 2023 22,923
At 31 December 2023 22,923
Net book value
At 31 December 2023 -
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 1
At 31 December 2023 1
5 Debtors 2023 2022
£ £
Trade debtors 10,800 21,600
Loan receivable 11,440,397 10,617,710
Net investment in finance leases 168,056 339,123
11,619,253 10,978,433
The cost of the assets employed in the finance leases is £510,000 (2022: £510,000).
Included within debtors are the following values: 2023 2022
£ £
Amounts receivable after more than one year
Loan 10,752,276 9,441,879
Finance Lease - 340,734
10,752,276 9,782,613
6 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 1,841,955 2,335,154
7 Creditors: amounts falling due within one year 2023 2022
£ £
Other loans 18,902,469 16,188,396
Trade creditors 176 38,334
Taxation and social security costs 21,560 20,875
Accruals 1,000 1,000
18,925,205 16,248,605
8 Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
2023 2022
£ £
Turnover 66,495 85,259
Cost of sales (34,222) 90,386
Amounts due from/(to) related parties
The following amounts were outstanding at the reporting end date
2023 2022
£ £
Trade debtors 10,800 21,600
Loans receivable 503,337 365,287
Net investment in finance leases 168,056 339,123
Trade creditors - (37,733)
Other loans (18,902,469) (320,000)
9 Other information
Thistledown Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Brook House
Asher Lane Business Park
Asher Lane
Pentrich
DE5 3SW
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