REGISTERED NUMBER: SC294158 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Thistle Investments (Northern) Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

P Harper

REGISTERED OFFICE:

17 North Anderson Drive

Aberdeen

AB15 6DZ

REGISTERED NUMBER:

SC294158 (Scotland)

ACCOUNTANTS:

MacDonald Accountancy Services

11 Margaret Street

Stonehaven

Aberdeenshire

AB39 2AY

The director presents his report with the financial statements of the company for the year ended 31 January 2025.

DIRECTOR

P Harper held office during the whole of the period from 1 February 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P Harper - Director

17 March 2025

TURNOVER

65,382

74,302

Administrative expenses

90,999

124,422

OPERATING LOSS

(25,617

)

(50,120

)

Interest payable and similar expenses

37,615

34,628

LOSS BEFORE TAXATION

(63,232

)

(84,748

)

Tax on loss

-

3,404

LOSS FOR THE FINANCIAL YEAR

(63,232

)

(88,152

)

FIXED ASSETS

Tangible assets

4

65,776

-

Investment property

5

880,000

880,000

945,776

880,000

CURRENT ASSETS

Debtors

6

103,059

256,348

Cash at bank

11,983

64,088

115,042

320,436

CREDITORS

Amounts falling due within one year

7

185,570

314,663

NET CURRENT (LIABILITIES)/ASSETS

(70,528

)

5,773

TOTAL ASSETS LESS CURRENT LIABILITIES

875,248

885,773

CREDITORS

Amounts falling due after more than one year

8

389,771

337,064

NET ASSETS

485,477

548,709

CAPITAL AND RESERVES

Called up share capital

3

3

Revaluation reserve

9

(338,600

)

(338,600

)

Retained earnings

824,074

887,306

SHAREHOLDERS' FUNDS

485,477

548,709

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the director and authorised for issue on 17 March 2025 and were signed by:

P Harper - Director

1.	STATUTORY INFORMATION

Thistle Investments (Northern) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

65,776

At 31 January 2025

65,776

NET BOOK VALUE

At 31 January 2025

65,776

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

880,000

NET BOOK VALUE

At 31 January 2025

880,000

At 31 January 2024

880,000

Fair value at 31 January 2025 is represented by:

£

Valuation in 2018

1,225,000

Valuation in 2022

(795,000

)

Valuation in 2023

450,000

880,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

1,101

11,174

Other debtors

101,958

245,174

103,059

256,348

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

7,866

10,715

Hire purchase contracts

5,455

-

Trade creditors

2,723

6,499

Taxation and social security

(19,873

)

(4,881

)

Other creditors

189,399

302,330

185,570

314,663

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

333,594

337,064

Hire purchase contracts

56,177

-

389,771

337,064

9.

RESERVES

Revaluation

reserve

£

At 1 February 2024

and 31 January 2025

(338,600

)