Company registration number SC351900 (Scotland)
THISTLELANE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
THISTLELANE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
THISTLELANE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
6,658,233
6,678,284
Current assets
Inventories
1,404,659
1,349,193
Trade and other receivables
4
45,169
29,610
Cash and cash equivalents
1,179,779
794,180
2,629,607
2,172,983
Current liabilities
5
(101,326)
(65,137)
Net current assets
2,528,281
2,107,846
Net assets
9,186,514
8,786,130
Equity
Called up share capital
1,300,000
1,300,000
Retained earnings
7,886,514
7,486,130
Total equity
9,186,514
8,786,130

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

The financial statements were approved and signed by the director and authorised for issue on 21 May 2026
Dr N S Murray
Director
Company registration number SC351900 (Scotland)
THISTLELANE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

Thistlelane Limited is a private company limited by shares incorporated in Scotland. The registered office is Princes Exchange, 1 Earl Grey Street, Edinburgh, Scotland, EH3 9EE. The company registration number is SC351900 and the principal business address is at the registered office.

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 £.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. 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. The principal accounting policies adopted are set out below.

1.2
Revenue

Income comprises consideration receivable from forestry and other activities. Income is shown net of VAT. Revenue is recognised when the amount can be reliably measured and it is probable that future economic benefits will flow to the company.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

No depreciation is provided on the company's freehold land.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery
Straight line over 10 years
1.4
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises all direct costs and, where applicable, any overheads that have been incurred in bringing the inventories to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories 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.

1.5
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

THISTLELANE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability of another entity. They 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 trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade payables 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.

1.7
Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

1.8
Government grants

G overnment g rants are recognised when there is reasonable assurance that the grant will be received and will comply with all the attached conditions. Grants in respect of capital expenditure are credited to the profit and loss account over the life of the assets to which they relate. Revenue based grants are credited to the profit and loss account as and when the relevant expenditure has been incurred.

2
Employees

There were no employees during the current year or the prior year.

THISTLELANE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
3
Property, plant and equipment
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025 and 31 December 2025
6,598,626
325,438
6,924,064
Depreciation and impairment
At 1 January 2025
-
0
245,780
245,780
Depreciation charged in the year
-
0
20,051
20,051
At 31 December 2025
-
0
265,831
265,831
Carrying amount
At 31 December 2025
6,598,626
59,607
6,658,233
At 31 December 2024
6,598,626
79,658
6,678,284
4
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
6,271
-
0
Other receivables
38,898
29,610
45,169
29,610
5
Current liabilities
2025
2024
£
£
Trade payables
93,494
42,814
Corporation tax
832
16,053
Other payables
7,000
6,270
101,326
65,137
6
Related party transactions

In 2024, there was a return of capital to the company's shareholder of £4,066,520.

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