Company registration number SC248750 (Scotland)
FULLER THOMSON HERITABLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
FULLER THOMSON HERITABLE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
FULLER THOMSON HERITABLE LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
110,810
76,404
Current assets
Stocks
62,854
79,592
Debtors
5
29,371
33,513
Cash at bank and in hand
193,396
121,919
285,621
235,024
Creditors: amounts falling due within one year
6
(226,505)
(290,702)
Net current assets/(liabilities)
59,116
(55,678)
Total assets less current liabilities
169,926
20,726
Provisions for liabilities
(15,066)
(19,101)
Net assets
154,860
1,625
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
153,860
625
Total equity
154,860
1,625

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 20 November 2025
Mr G Thomson
Director
Company registration number SC248750 (Scotland)
FULLER THOMSON HERITABLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Fuller Thomson Heritable Limited is a private company limited by shares incorporated in Scotland. The registered office is 144 Nethergate, Dundee, DD1 4EB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for bar and restaurant services net of VAT and trade discounts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% straight line
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

FULLER THOMSON HERITABLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

FULLER THOMSON HERITABLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

FULLER THOMSON HERITABLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
83
87
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 29 February 2024
67,987
225,100
154,076
24,507
13,750
485,420
Additions
-
0
3,056
67,372
-
0
-
0
70,428
Disposals
(67,987)
(34,986)
(80,954)
(7,632)
(13,750)
(205,309)
At 28 February 2025
-
0
193,170
140,494
16,875
-
0
350,539
Depreciation and impairment
At 29 February 2024
67,987
189,195
121,253
16,831
13,750
409,016
Depreciation charged in the year
-
0
9,019
25,401
1,602
-
0
36,022
Eliminated in respect of disposals
(67,987)
(34,986)
(80,954)
(7,632)
(13,750)
(205,309)
At 28 February 2025
-
0
163,228
65,700
10,801
-
0
239,729
Carrying amount
At 28 February 2025
-
0
29,942
74,794
6,074
-
0
110,810
At 28 February 2024
-
0
35,905
32,823
7,676
-
0
76,404
FULLER THOMSON HERITABLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
5,167
12,336
Other debtors
24,204
21,177
29,371
33,513
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
106,787
141,211
Taxation and social security
70,991
107,088
Other creditors
48,727
42,403
226,505
290,702
7
Called up share capital
2025
2024
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
8
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
249,000
249,000
9
Parent company

The company is 10 0% owned by Tayside Holdings Ltd. The ultimate controlling parties are Gary and Louise Thomson, who own the entire share capital of THL.

2025-02-28 2024-02-29 false false false 20 November 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr G Thomson SC248750 2024-02-29 2025-02-28 SC248750 2025-02-28 SC248750 2024-02-28 SC248750 core:LeaseholdImprovements 2025-02-28 SC248750 core:PlantMachinery 2025-02-28 SC248750 core:FurnitureFittings 2025-02-28 SC248750 core:ComputerEquipment 2025-02-28 SC248750 core:MotorVehicles 2025-02-28 SC248750 core:LeaseholdImprovements 2024-02-28 SC248750 core:PlantMachinery 2024-02-28 SC248750 core:FurnitureFittings 2024-02-28 SC248750 core:ComputerEquipment 2024-02-28 SC248750 core:MotorVehicles 2024-02-28 SC248750 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 SC248750 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 SC248750 core:CurrentFinancialInstruments 2025-02-28 SC248750 core:CurrentFinancialInstruments 2024-02-28 SC248750 core:ShareCapital 2025-02-28 SC248750 core:ShareCapital 2024-02-28 SC248750 core:RetainedEarningsAccumulatedLosses 2025-02-28 SC248750 core:RetainedEarningsAccumulatedLosses 2024-02-28 SC248750 core:ShareCapitalOrdinaryShareClass1 2025-02-28 SC248750 core:ShareCapitalOrdinaryShareClass1 2024-02-28 SC248750 bus:Director1 2024-02-29 2025-02-28 SC248750 core:LeaseholdImprovements 2024-02-29 2025-02-28 SC248750 core:PlantMachinery 2024-02-29 2025-02-28 SC248750 core:FurnitureFittings 2024-02-29 2025-02-28 SC248750 core:ComputerEquipment 2024-02-29 2025-02-28 SC248750 core:MotorVehicles 2024-02-29 2025-02-28 SC248750 2023-03-01 2024-02-28 SC248750 core:LeaseholdImprovements 2024-02-28 SC248750 core:PlantMachinery 2024-02-28 SC248750 core:FurnitureFittings 2024-02-28 SC248750 core:ComputerEquipment 2024-02-28 SC248750 core:MotorVehicles 2024-02-28 SC248750 2024-02-28 SC248750 core:WithinOneYear 2025-02-28 SC248750 core:WithinOneYear 2024-02-28 SC248750 bus:OrdinaryShareClass1 2024-02-29 2025-02-28 SC248750 bus:PrivateLimitedCompanyLtd 2024-02-29 2025-02-28 SC248750 bus:FRS102 2024-02-29 2025-02-28 SC248750 bus:AuditExemptWithAccountantsReport 2024-02-29 2025-02-28 SC248750 bus:SmallCompaniesRegimeForAccounts 2024-02-29 2025-02-28 SC248750 bus:FullAccounts 2024-02-29 2025-02-28 xbrli:pure xbrli:shares iso4217:GBP