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Registered number: SC275650










THUNDER LEISURE LIMITED

FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

 
THUNDER LEISURE LIMITED
 

COMPANY INFORMATION


Director
Mr C J Drysdale 




Registered number
SC275650



Registered office
Unit S and Warehouse 5
Telford Road

Eastfield Industrial Estate

Glenrothes

Fife

KY7 4NX




Independent auditors
Sumer Auditco Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
THUNDER LEISURE LIMITED
REGISTERED NUMBER: SC275650

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

30 April
30 November
2024
2022
£
£

  

Current assets
  

Stocks
  
12,211
-

Debtors: amounts falling due within one year
 4 
105,766
2

Cash at bank and in hand
  
101,281
-

  
219,258
2

Creditors: amounts falling due within one year
 5 
(136,796)
-

Net current assets
  
 
 
82,462
 
 
2

Total assets less current liabilities
  
82,462
2

  

Net assets
  
82,462
2


Capital and reserves
  

Called up share capital 
 6 
2
2

Profit and loss account
  
82,460
-

  
82,462
2


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr C J Drysdale
Director

Date: 30 January 2025

The notes on pages 2 to 5 form part of these financial statements.
Page 1

 
THUNDER LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

Thunder Leisure Ltd is a private company, limited by shares, incorporated in Scotland with registration number SC275650. The registered office is Unit S and Warehouse 5, Telford Road, Eastfield Industrial Estate, Glenrothes, KY7 4NX.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.
The current accounting period was extended to 30 April 2024 and therefore the financial statements cover the seventeen month period to 30 April 2024. The company commenced trading on 21 April 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 
THUNDER LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees



The average monthly number of employees, including directors, during the period was 6 (2022 - 1).

Page 3

 
THUNDER LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

4.


Debtors

30 April
30 November
2024
2022
£
£


Amounts owed by group undertakings
100,581
2

Other debtors
5,185
-

105,766
2



5.


Creditors: Amounts falling due within one year

30 April
30 November
2024
2022
£
£

Trade creditors
3,165
-

Amounts owed to group undertakings
81,036
-

Other taxation and social security
41,031
-

Other creditors
2,714
-

Accruals and deferred income
8,850
-

136,796
-



6.


Share capital

30 April
30 November
2024
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



7.


Related party transactions

The company has taken advantage of the exemption within FRS 102 1A from disclosing related party transactions with other companies that are wholly owned by the group headed by Thunder Holdings Limited.

Page 4

 
THUNDER LEISURE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

8.


Ultimate Controlling party

The immediate and ultimate parent company is Thunder Holdings Limited, a private company registered in Scotland, whose registered office is as the company's. Consolidated accounts for Thunder Holdings Limited are available from Companies House.
The ultimate controlling party is the director Mr C J Drysdale as a result of his majority shareholding in Thunder Holdings Limited.


9.


Auditors' information

The auditors' report on the financial statements for the period ended 30 April 2024 was unqualified.

The audit report was signed on 30 January 2025 by Mark Gibson (Senior statutory auditor) on behalf of Sumer Auditco Limited.

Page 5