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THA FAMILY LIMITED

Registered Number
SC576516
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2024

THA FAMILY LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

WONG, Yuk Fong

Registered Address

9 Royal Crescent
Glasgow
G3 7SP

Registered Number

SC576516 (Scotland)
THA FAMILY LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets35050
Investment property4450,000450,000
450,050450,050
Current assets
Debtors5721265
Cash at bank and on hand295,63010,439
296,35110,704
Creditors amounts falling due within one year6(253,220)(249,910)
Net current assets (liabilities)43,131(239,206)
Total assets less current liabilities493,181210,844
Provisions for liabilities7(2,032)(2,032)
Net assets491,149208,812
Capital and reserves
Called up share capital100100
Revaluation reserve8,6628,662
Profit and loss account482,387200,050
Shareholders' funds491,149208,812
The financial statements were approved and authorised for issue by the Director on 27 May 2025, and are signed on its behalf by:
WONG, Yuk Fong
Director
Registered Company No. SC576516
THA FAMILY LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention, as modified by the revaluation of certain assets, and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
The turnover shown in the profit and loss account represents the rental income receivable for the year. Income is recognised on the basis of rent due for the year.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year00
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 October 235050
At 30 September 245050
Net book value
At 30 September 245050
At 30 September 235050
4.Investment property
The investment property was revalued by the director on 30 September 2018. The director's valuation on 30 September 2024 remains unchanged.

£
Fair value at 01 October 23450,000
At 30 September 24450,000
5.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income721265
Total721265
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security6,4295,024
Other creditors241,185239,185
Accrued liabilities and deferred income5,6065,701
Total253,220249,910
Included within other creditors are a loan from the director and a loan from a shareholder. These are repayable on demand and interested is charged.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,0322,032
Total2,0322,032
8.Related party transactions
The loan balance due to the director amounted to £191,899 (2023: £190,899) at the year end. The loan balance due to a shareholder amounted to £49,286 (2023: £48,286) at the year end.