Woolly Thistle Limited SC481107 false 2023-10-01 2024-12-31 2024-12-31 The principal activity of the company is flower display rental. Digita Accounts Production Advanced 6.30.9574.0 true false SC481107 2023-10-01 2024-12-31 SC481107 2024-12-31 SC481107 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC481107 core:ShareCapital 2024-12-31 SC481107 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 SC481107 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 SC481107 core:Goodwill 2024-12-31 SC481107 core:FurnitureFittingsToolsEquipment 2024-12-31 SC481107 core:MotorVehicles 2024-12-31 SC481107 bus:SmallEntities 2023-10-01 2024-12-31 SC481107 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-12-31 SC481107 bus:FilletedAccounts 2023-10-01 2024-12-31 SC481107 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-12-31 SC481107 bus:RegisteredOffice 2023-10-01 2024-12-31 SC481107 bus:Director1 2023-10-01 2024-12-31 SC481107 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-12-31 SC481107 core:Goodwill 2023-10-01 2024-12-31 SC481107 core:ComputerEquipment 2023-10-01 2024-12-31 SC481107 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-12-31 SC481107 core:MotorCars 2023-10-01 2024-12-31 SC481107 core:MotorVehicles 2023-10-01 2024-12-31 SC481107 1 2023-10-01 2024-12-31 SC481107 countries:Scotland 2023-10-01 2024-12-31 SC481107 2023-09-30 SC481107 core:Goodwill 2023-09-30 SC481107 core:FurnitureFittingsToolsEquipment 2023-09-30 SC481107 core:MotorVehicles 2023-09-30 SC481107 2022-10-01 2023-09-30 SC481107 2023-09-30 SC481107 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC481107 core:ShareCapital 2023-09-30 SC481107 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 SC481107 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 SC481107 core:Goodwill 2023-09-30 SC481107 core:FurnitureFittingsToolsEquipment 2023-09-30 SC481107 core:MotorVehicles 2023-09-30 iso4217:GBP xbrli:pure

Registration number: SC481107

Woolly Thistle Limited

trading as Floral Image Edinburgh

Annual Report and Unaudited Financial Statements

For The Period from 1 October 2023 to 31 December 2024

 

Woolly Thistle Limited

trading as Floral Image Edinburgh

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Woolly Thistle Limited

trading as Floral Image Edinburgh

(Registration number: SC481107)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Intangible assets

4

 

7,750

 

9,000

Tangible assets

5

 

7,388

 

10,744

   

15,138

 

19,744

Current assets

   

 

Stocks

6

18,473

 

14,105

 

Debtors

7

14,594

 

16,859

 

Cash at bank and in hand

 

5,164

 

1,028

 

 

38,231

 

31,992

 

Creditors: Amounts falling due within one year

8

(15,383)

 

(14,877)

 

Net current assets

   

22,848

 

17,115

Total assets less current liabilities

   

37,986

 

36,859

Creditors: Amounts falling due after more than one year

8

 

(10,728)

 

-

Provisions for liabilities

 

(1,886)

 

(2,686)

Net assets

   

25,372

 

34,173

Capital and reserves

   

 

Called up share capital

1

 

1

 

Profit and loss account

25,371

 

34,172

 

Total equity

   

25,372

 

34,173

 

Woolly Thistle Limited

trading as Floral Image Edinburgh

(Registration number: SC481107)
Balance Sheet as at 31 December 2024

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 June 2025
 

.........................................
Mr O.D. Mynard
Director

 

Woolly Thistle Limited

trading as Floral Image Edinburgh

Notes to the Unaudited Financial Statements For The Period from 1 October 2023 to 31 December 2024

1

General information

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

The address of its registered office is:
19 Gateside Gardens
Greenock
PA16 7DQ
Scotland

These financial statements were authorised for issue by the director on 11 June 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.

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 and it is probable that future economic benefits will flow to the entity.

 

Woolly Thistle Limited

trading as Floral Image Edinburgh

Notes to the Unaudited Financial Statements For The Period from 1 October 2023 to 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

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

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

Motor vehicles

25% reducing balance

Computer equipment

25% reducing balance

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 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% straight line

 

Woolly Thistle Limited

trading as Floral Image Edinburgh

Notes to the Unaudited Financial Statements For The Period from 1 October 2023 to 31 December 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Woolly Thistle Limited

trading as Floral Image Edinburgh

Notes to the Unaudited Financial Statements For The Period from 1 October 2023 to 31 December 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

10,000

10,000

At 31 December 2024

10,000

10,000

Amortisation

At 1 October 2023

1,000

1,000

Amortisation charge

1,250

1,250

At 31 December 2024

2,250

2,250

Carrying amount

At 31 December 2024

7,750

7,750

At 30 September 2023

9,000

9,000

5

Tangible assets

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

1,631

23,444

25,075

At 31 December 2024

1,631

23,444

25,075

Depreciation

At 1 October 2023

777

13,554

14,331

Charge for the period

316

3,040

3,356

At 31 December 2024

1,093

16,594

17,687

Carrying amount

At 31 December 2024

538

6,850

7,388

At 30 September 2023

854

9,890

10,744

 

Woolly Thistle Limited

trading as Floral Image Edinburgh

Notes to the Unaudited Financial Statements For The Period from 1 October 2023 to 31 December 2024

6

Stocks

2024
£

2023
£

Other inventories

18,473

14,105

7

Debtors

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

13,720

16,632

Amounts owed by group undertakings

350

-

Other debtors

524

227

 

14,594

16,859

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Loans and borrowings

2,586

-

Trade creditors

1,057

4,467

Taxation and social security

9,740

7,347

Other creditors

2,000

3,063

15,383

14,877

Due after one year

Loans and borrowings

10,728

-

9

Parent and ultimate parent undertaking

The company's immediate parent is Edinburgh Flower Rentals Ltd, incorporated in England and Wales.