| REGISTERED NUMBER: |
| Thistle Energy Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2025 |
| REGISTERED NUMBER: |
| Thistle Energy Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2025 |
| Thistle Energy Limited (Registered number: SC145493) |
| Contents of the Financial Statements |
| for the year ended 31 July 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Thistle Energy Limited |
| Company Information |
| for the year ended 31 July 2025 |
| Director: |
| Registered office: |
| Registered number: |
| Accountants: |
| Broadwalk House, 5th Floor |
| 5 Appold Street |
| Broadgate |
| London |
| EC2A 2AG |
| Thistle Energy Limited (Registered number: SC145493) |
| Balance Sheet |
| 31 July 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital | 9 |
| Capital redemption reserve | 10 |
| Retained earnings | 10 |
| Shareholders' funds |
| 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 were approved by the director and authorised for issue on |
| Thistle Energy Limited (Registered number: SC145493) |
| Notes to the Financial Statements |
| for the year ended 31 July 2025 |
| 1. | Statutory information |
| Thistle Energy Limited is a |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| Set out below is a summary of the principal accounting policies, all of which have been applied consistently (except as otherwise stated). |
| Significant judgements and estimates |
| In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimated and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. |
| 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, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. |
| Critical judgements in applying the Company's accounting policies |
| The critical judgement that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below: |
| (i) Assessing indicators and impairment |
| In assessing whether there have been any indicators or impairment assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year. |
| Key sources of estimation uncertainty |
| The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. |
| (ii) Recoverability of receivables |
| The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the ageing of the receivables, past experience and recoverability, and the credit profile of individual or groups of customers. |
| Thistle Energy Limited (Registered number: SC145493) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2025 |
| 3. | Accounting policies - continued |
| Significant judgements and estimates |
| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| (a) Critical judgements in applying the Company's accounting policies |
| The Company makes a number of assessments which require judgement in preparing the accounts and can have a significant effect upon the financial statements. However due to the straight forward nature of the Company's business, management does not believe that there are any judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
| (b) Key accounting estimates and assumptions |
| The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. However due to the straight forward nature of the Company's business, management does not believe that there are any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover represents amounts receivable for services provided in the year and is stated net of VAT. |
| Tangible fixed assets |
| Computer equipment | - |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Going concern |
| The financial statements have been prepared on a going concern basis. The Director has reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
| Provisions |
| Provisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, it is probably that the obligation will be required to be settled, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting taking into account the risks and uncertainties surrounding the obligation. Provisions are discounted when the time value of money is material. |
| Thistle Energy Limited (Registered number: SC145493) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2025 |
| 3. | Accounting policies - continued |
| Financial instruments |
| Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments. |
| Financial assets / liabilities - classified as basic financial instruments |
| (i) Cash and cash equivalents |
| This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. |
| (ii) Trade and other receivables |
| Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. |
| At the end of each reporting period, the Company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment 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. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss. |
| (iii) Trade and other payables and loans and borrowings |
| Trade and other payables and loans and borrowings are initially measured at the transaction price, and subsequently measured at amortised cost using the effective interest method. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| 5. | Tangible fixed assets |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 August 2024 |
| and 31 July 2025 |
| Depreciation |
| At 1 August 2024 |
| Charge for year |
| At 31 July 2025 |
| Net book value |
| At 31 July 2025 |
| At 31 July 2024 |
| Thistle Energy Limited (Registered number: SC145493) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2025 |
| 6. | Debtors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 8. | Leasing agreements |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| 9. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary A | 1 | 51 | 51 |
| Ordinary B | 1 | 5,750 | 5,750 |
| 5,801 | 5,801 |
| 10. | Reserves |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 August 2024 | 385,181 |
| Deficit for the year | ( |
) | ( |
) |
| Dividends | ( |
) | ( |
) |
| At 31 July 2025 | 285,661 |
| 11. | Ultimate controlling party |
| The controlling party is A G F Majerus. |