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REGISTERED NUMBER: SC294158 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 January 2024

for

Thistle Investments (Northern) Limited

Thistle Investments (Northern) Limited (Registered number: SC294158)






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




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Thistle Investments (Northern) Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: P Harper





REGISTERED OFFICE: 17 North Anderson Drive
Aberdeen
AB15 6DZ





REGISTERED NUMBER: SC294158 (Scotland)





ACCOUNTANTS: MacDonald Accountancy Services
11 Margaret Street
Stonehaven
Aberdeenshire
AB39 2AY

Thistle Investments (Northern) Limited (Registered number: SC294158)

Report of the Director
for the Year Ended 31 January 2024

The director presents his report with the financial statements of the company for the year ended 31 January 2024.

DIRECTOR
P Harper held office during the whole of the period from 1 February 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Harper - Director


16 September 2024

Thistle Investments (Northern) Limited (Registered number: SC294158)

Income Statement
for the Year Ended 31 January 2024

31.1.24 31.1.23
£    £   

TURNOVER 74,302 109,281

Administrative expenses 124,422 91,249
OPERATING (LOSS)/PROFIT (50,120 ) 18,032


Interest payable and similar expenses 34,628 24,374
LOSS BEFORE TAXATION (84,748 ) (6,342 )

Tax on loss 3,404 1,671
LOSS FOR THE FINANCIAL YEAR (88,152 ) (8,013 )

Thistle Investments (Northern) Limited (Registered number: SC294158)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 880,000 880,000

CURRENT ASSETS
Debtors 5 256,348 221,163
Cash at bank 64,088 2,516
320,436 223,679
CREDITORS
Amounts falling due within one year 6 314,663 126,647
NET CURRENT ASSETS 5,773 97,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

885,773

977,032

CREDITORS
Amounts falling due after more than one
year

7

337,064

340,171
NET ASSETS 548,709 636,861

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 8 (338,600 ) (338,600 )
Retained earnings 887,306 975,458
SHAREHOLDERS' FUNDS 548,709 636,861

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Investments (Northern) Limited (Registered number: SC294158)

Balance Sheet - continued
31 January 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 16 September 2024 and were signed by:





P Harper - Director


Thistle Investments (Northern) Limited (Registered number: SC294158)

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

1. STATUTORY INFORMATION

Thistle Investments (Northern) 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 880,000
NET BOOK VALUE
At 31 January 2024 880,000
At 31 January 2023 880,000

Thistle Investments (Northern) Limited (Registered number: SC294158)

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

4. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2018 1,225,000
Valuation in 2022 (795,000 )
Valuation in 2023 450,000
880,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 11,174 7,237
Other debtors 245,174 213,926
256,348 221,163

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,715 15,353
Trade creditors 6,499 22,891
Taxation and social security (4,881 ) (10,277 )
Other creditors 302,330 98,680
314,663 126,647

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 337,064 340,171

8. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 (338,600 )