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Company registration number: SC226373
Thistle Ground Maintenance Limited
Unaudited filleted abridged financial statements
30 April 2024
Thistle Ground Maintenance Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Thistle Ground Maintenance Limited
Directors and other information
Directors Mr Derek Small
Mrs Isla Small (Appointed 28 April 2024)
Secretary Derek Small
Company number SC226373
Registered office Unit 4 Woodgate Way North
Eastfiled Industrial Estate
Glenrothes
Fife
KY7 4PE
Accountants Paterson Boyd & Co
Chartered Certified Accountants
18 North Street
Glenrothes
Fife
KY7 5NA
Thistle Ground Maintenance Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Thistle Ground Maintenance Limited
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thistle Ground Maintenance Limited for the year ended 30 April 2024 which comprise the abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Thistle Ground Maintenance Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Thistle Ground Maintenance Limited and state those matters that we have agreed to state to the board of directors of Thistle Ground Maintenance Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thistle Ground Maintenance Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Thistle Ground Maintenance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thistle Ground Maintenance Limited. You consider that Thistle Ground Maintenance Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Thistle Ground Maintenance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Paterson Boyd & Co
Chartered Certified Accountants
18 North Street
Glenrothes
Fife
KY7 5NA
13 January 2025
Thistle Ground Maintenance Limited
Abridged statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 208,512 232,645
_______ _______
208,512 232,645
Current assets
Debtors 74,223 104,588
Cash at bank and in hand 388,921 481,384
_______ _______
463,144 585,972
Creditors: amounts falling due
within one year ( 145,680) ( 277,981)
_______ _______
Net current assets 317,464 307,991
_______ _______
Total assets less current liabilities 525,976 540,636
Provisions for liabilities ( 25,208) ( 29,523)
_______ _______
Net assets 500,768 511,113
_______ _______
Capital and reserves
Called up share capital 5 5
Profit and loss account 500,763 511,108
_______ _______
Shareholders funds 500,768 511,113
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 13 January 2025 , and are signed on behalf of the board by:
Mr Derek Small
Director
Company registration number: SC226373
Thistle Ground Maintenance Limited
Statement of changes in equity
Year ended 30 April 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2022 5 338,028 338,033
Profit for the year 602,130 602,130
_______ _______ _______
Total comprehensive income for the year - 602,130 602,130
Dividends paid and payable ( 79,050) ( 79,050)
Redemption of shares - ( 350,000) ( 350,000)
_______ _______ _______
Total investments by and distributions to owners - ( 429,050) ( 429,050)
_______ _______ _______
At 30 April 2023 and 1 May 2023 5 511,108 511,113
Profit for the year 28,085 28,085
_______ _______ _______
Total comprehensive income for the year - 28,085 28,085
Dividends paid and payable ( 38,430) ( 38,430)
_______ _______ _______
Total investments by and distributions to owners - ( 38,430) ( 38,430)
_______ _______ _______
At 30 April 2024 5 500,763 500,768
_______ _______ _______
Thistle Ground Maintenance Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit 4 Woodgate Way North, Eastfiled Industrial Estate, Glenrothes, Fife, KY7 4PE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Defined contribution plans
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 6 (2023: 8 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 152,405 125,612
Social security costs 11,841 4,000
Other pension costs 122,261 160,711
_______ _______
286,507 290,323
_______ _______
5. Tangible assets
£
Cost
At 1 May 2023 462,309
Additions 33,948
_______
At 30 April 2024 496,257
_______
Depreciation
At 1 May 2023 229,664
Charge for the year 58,081
_______
At 30 April 2024 287,745
_______
Carrying amount
At 30 April 2024 208,512
_______
At 30 April 2023 232,645
_______