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Company Registration No. SC554602 (Scotland)
Thornbrake Limited Unaudited accounts for the year ended 31 January 2026
Thornbrake Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Thornbrake Limited Company Information for the year ended 31 January 2026
Directors
Christopher Grieve Craig Grieve
Company Number
SC554602 (Scotland)
Registered Office
17 Mayville Gardens East Edinburgh Midlothian EH5 3DW Scotland
Accountants
Embrace Accountants Ltd 37 St. Leonards Drive Nottingham NG8 2BB
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Thornbrake Limited Statement of financial position as at 31 January 2026
2026
2025
Notes
£
£
Fixed assets
Tangible assets
4
256
421
Investment property
5
477,905
477,905
478,161
478,326
Current assets
Debtors
6
-
1,059
Cash at bank and in hand
3,456
3,272
3,456
4,331
Creditors: amounts falling due within one year
7
(428,781)
(449,232)
Net current liabilities
(425,325)
(444,901)
Net assets
52,836
33,425
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
51,836
32,425
Shareholders' funds
52,836
33,425
For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2026 and were signed on its behalf by
Craig Grieve Director Company Registration No. SC554602
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Thornbrake Limited Notes to the Accounts for the year ended 31 January 2026
1
Statutory information
Thornbrake Limited is a private company, limited by shares, registered in Scotland, registration number SC554602. The registered office is 17 Mayville Gardens East, Edinburgh, Midlothian, EH5 3DW, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for property rental provided in the normal course of business.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% Straight Line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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Thornbrake Limited Notes to the Accounts for the year ended 31 January 2026
Going concern
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
4
Tangible fixed assets
Fixtures & fittings
£
Cost or valuation
At cost
At 1 February 2025
13,989
At 31 January 2026
13,989
Depreciation
At 1 February 2025
13,568
Charge for the year
165
At 31 January 2026
13,733
Net book value
At 31 January 2026
256
At 31 January 2025
421
5
Investment property
2026
£
Fair value at 1 February 2025
477,905
At 31 January 2026
477,905
6
Debtors
2026
2025
£
£
Amounts falling due within one year
Other debtors
-
1,059
7
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
-
1,059
Taxes and social security
4,592
3,984
Other creditors
423,795
443,795
Accruals
394
394
428,781
449,232
8
Average number of employees
During the year the average number of employees was 2 (2025: 2).
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