Thistle Hydraulics Limited SC196070 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is plant repairs and sales Digita Accounts Production Advanced 6.30.9574.0 true SC196070 2023-09-01 2024-08-31 SC196070 2024-08-31 SC196070 bus:OrdinaryShareClass2 bus:Non-cumulativeRedeemableShares 2024-08-31 SC196070 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC196070 core:ShareCapital 2024-08-31 SC196070 core:CurrentFinancialInstruments 2024-08-31 SC196070 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 SC196070 core:Goodwill 2024-08-31 SC196070 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-31 SC196070 core:MotorVehicles 2024-08-31 SC196070 core:PlantMachinery 2024-08-31 SC196070 bus:SmallEntities 2023-09-01 2024-08-31 SC196070 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC196070 bus:FilletedAccounts 2023-09-01 2024-08-31 SC196070 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC196070 bus:RegisteredOffice 2023-09-01 2024-08-31 SC196070 bus:Director1 2023-09-01 2024-08-31 SC196070 bus:OrdinaryShareClass2 bus:Non-cumulativeRedeemableShares 2023-09-01 2024-08-31 SC196070 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC196070 core:Goodwill 2023-09-01 2024-08-31 SC196070 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 SC196070 core:LeaseholdImprovements 2023-09-01 2024-08-31 SC196070 core:MotorVehicles 2023-09-01 2024-08-31 SC196070 core:PlantMachinery 2023-09-01 2024-08-31 SC196070 countries:Scotland 2023-09-01 2024-08-31 SC196070 2023-08-31 SC196070 core:Goodwill 2023-08-31 SC196070 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 SC196070 core:MotorVehicles 2023-08-31 SC196070 core:PlantMachinery 2023-08-31 SC196070 2022-09-01 2023-08-31 SC196070 2023-08-31 SC196070 bus:OrdinaryShareClass2 bus:Non-cumulativeRedeemableShares 2023-08-31 SC196070 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC196070 core:ShareCapital 2023-08-31 SC196070 core:CurrentFinancialInstruments 2023-08-31 SC196070 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 SC196070 core:Goodwill 2023-08-31 SC196070 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 SC196070 core:MotorVehicles 2023-08-31 SC196070 core:PlantMachinery 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC196070

Thistle Hydraulics Limited

Information for Filing with The Registrar

31 August 2024

 

Thistle Hydraulics Limited

(Registration number: SC196070)

Balance Sheet

31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

1

1

Tangible assets

6

52,289

68,593

 

52,290

68,594

Current assets

 

Stocks

7

9,725

23,050

Debtors

8

132,159

166,118

Cash at bank and in hand

 

222,182

311,878

 

364,066

501,046

Creditors: Amounts falling due within one year

9

(100,675)

(190,757)

Net current assets

 

263,391

310,289

Total assets less current liabilities

 

315,681

378,883

Provisions for liabilities

(13,072)

(17,148)

Net assets

 

302,609

361,735

Capital and reserves

 

Called up share capital

10

4

4

Retained earnings

302,605

361,731

Shareholders' funds

 

302,609

361,735

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Thistle Hydraulics Limited

(Registration number: SC196070)

Balance Sheet

31 August 2024

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:



E.G. Howells

Director

 

Thistle Hydraulics Limited

Notes to the Unaudited Accounts

Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
22/23 Winchester Avenue
Denny
Stirlingshire
FK6 6QE

These financial statements were authorised for issue by the Board on 14 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grants are recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

 

Thistle Hydraulics Limited

Notes to the Unaudited Accounts

Year Ended 31 August 2024

Tax

The tax expense for the year comprises corporation tax and deferred tax.

The current corporation 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 taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

25 years straight line basis

Plant and machinery

10 years straight line basis

Motor vehicles

4 years straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Thistle Hydraulics Limited

Notes to the Unaudited Accounts

Year Ended 31 August 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 6 (2023 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

22,239

22,568

 

Thistle Hydraulics Limited

Notes to the Unaudited Accounts

Year Ended 31 August 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

14,000

14,000

At 31 August 2024

14,000

14,000

Amortisation

At 1 September 2023

13,999

13,999

At 31 August 2024

13,999

13,999

Carrying amount

At 31 August 2024

1

1

At 31 August 2023

1

1

6

Tangible assets

Land and buildings
£

Plant and machinery
£

Motor
vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

53,776

255,911

84,495

394,182

Additions

-

5,935

-

5,935

At 31 August 2024

53,776

261,846

84,495

400,117

Depreciation

At 1 September 2023

39,653

235,311

50,625

325,589

Charge for the year

1,950

7,589

12,700

22,239

At 31 August 2024

41,603

242,900

63,325

347,828

Carrying amount

At 31 August 2024

12,173

18,946

21,170

52,289

At 31 August 2023

14,123

20,600

33,870

68,593

7

Stocks

2024
£

2023
£

Other inventories

9,725

23,050

 

Thistle Hydraulics Limited

Notes to the Unaudited Accounts

Year Ended 31 August 2024

8

Debtors

Current

2024
£

2023
£

Trade debtors

132,110

164,569

Prepayments

49

49

Other debtors

-

1,500

 

132,159

166,118

9

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

34,374

41,956

Amounts due to related parties

1,676

3,212

Taxation and social security

 

59,926

141,633

Other creditors

 

4,699

3,956

 

100,675

190,757

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.10 each

40

4

40

4