Thp Glasgow Limited

	Page
Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: SC596861

		31 December 2025		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		6,567		4,327

			6,567		4,327
CURRENT ASSETS
Stocks	5	24,266		33,200
Debtors	6	109,552		130,064
Cash at bank and in hand		16,848		25,937

		150,666		189,201
Creditors: Amounts Falling Due Within One Year	7	(114,691 )		(154,403 )

NET CURRENT ASSETS (LIABILITIES)			35,975		34,798

TOTAL ASSETS LESS CURRENT LIABILITIES			42,542		39,125

NET ASSETS			42,542		39,125

CAPITAL AND RESERVES
Called up share capital	8		410		410
Profit and Loss Account			42,132		38,715

SHAREHOLDERS' FUNDS			42,542		39,125

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Thp Glasgow Limited

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account for the year end 31 December 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr David Houston

Director

20/07/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Thp Glasgow Limited is a private company, limited by shares, incorporated in Scotland, registered number SC596861 . The registered office is 82 Berkeley Street, Glasgow, G3 7DS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	15% reducing balance
Computer Equipment	15% reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

...CONTINUED

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Thp Glasgow Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 8)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2025	3,697	2,292	5,989
Additions	-	3,431	3,431

As at 31 December 2025	3,697	5,723	9,420

Depreciation
As at 1 January 2025	615	1,047	1,662
Provided during the period	462	729	1,191

As at 31 December 2025	1,077	1,776	2,853

Net Book Value
As at 31 December 2025	2,620	3,947	6,567

As at 1 January 2025	3,082	1,245	4,327

5. Stocks

	31 December 2025	31 December 2024
	£	£
Work in progress	24,266	33,200

6. Debtors

	31 December 2025	31 December 2024
	£	£
Due within one year
Trade debtors	104,201	112,768
Other debtors	5,351	17,296

	109,552	130,064

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Thp Glasgow Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	31 December 2025	31 December 2024
	£	£
Trade creditors	13,529	17,098
Bank loans and overdrafts	712	118
Other creditors	53,291	113,527
Taxation and social security	47,159	23,660

	114,691	154,403

8. Share Capital

	31 December 2025	31 December 2024
	£	£
Allotted, Called up and fully paid	410	410

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