THISTLEHAULAGE LTD


Director	LETHAM, Robert Charles Grant


Registered Address	C/O Mccreath Accountancy Phoenix House, Ground Floor Left,
	Phoenix Business Park
	Linwood
	PA1 2BH


Registered Number	SC585754 (Scotland)

Balance Sheet as at
31 January 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		527,062		76,368
			527,062		76,368
Current assets
Debtors	5	450,652		295,599
Cash at bank and on hand		90,003		134,985
		540,655		430,584
Creditors amounts falling due within one year	6	(286,372)		(91,871)
Net current assets (liabilities)			254,283		338,713
Total assets less current liabilities			781,345		415,081
Creditors amounts falling due after one year	7		(385,390)		-
Provisions for liabilities	9		(68,335)		-
Net assets			327,620		415,081
Capital and reserves
Called up share capital			150,000		150,000
Profit and loss account			177,620		265,081
Shareholders' funds			327,620		415,081

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 30 October 2026, and are signed on its behalf by:

LETHAM, Robert Charles Grant
Director
Registered Company No. SC585754

THISTLEHAULAGE LTD

Notes to the Financial Statements
for the year ended 31 January 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	20	-
Office Equipment	-	3

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	2		2

3.	Prior period adjustment
	Adjustments have been made to retained earnings brought forward at 1 February 2025 to correct material prior period errors, in accordance with Section 10 of FRS 102: 1. Corporation tax liabilities for the years ended 31 January 2024 (£10,375.92) and 31 January 2025 (£22,504.08), together with late payment interest of £201.25 to 31 January 2025, had not been provided for in the prior period financial statements (£33,081.25). 2. Other debtors of £48,927.76 brought forward at 31 January 2025 could not be substantiated and have been written off. The total reduction in retained earnings brought forward is £82,009.01.

Prior period adjustment

Adjustments have been made to retained earnings brought forward at 1 February 2025 to correct material prior period errors, in accordance with Section 10 of FRS 102:

1. Corporation tax liabilities for the years ended 31 January 2024 (£10,375.92) and 31 January 2025 (£22,504.08), together with late payment interest of £201.25 to 31 January 2025, had not been provided for in the prior period financial statements (£33,081.25).
2. Other debtors of £48,927.76 brought forward at 31 January 2025 could not be substantiated and have been written off.

The total reduction in retained earnings brought forward is £82,009.01.

4.	Tangible fixed assets

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 February 25	144,500	1,657	146,157
Additions	544,989	449	545,438
Disposals	(120,500)	-	(120,500)
At 31 January 26	568,989	2,106	571,095
Depreciation and impairment
At 01 February 25	69,236	553	69,789
Charge for year	36,865	695	37,560
On disposals	(63,316)	-	(63,316)
At 31 January 26	42,785	1,248	44,033
Net book value
At 31 January 26	526,204	858	527,062
At 31 January 25	75,264	1,104	76,368

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	321,578	-
Other debtors	129,074	295,599
Total	450,652	295,599

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	94,511	-
Bank borrowings and overdrafts	5,453	14,505
Taxation and social security	12,262	-
Finance lease and HP contracts	167,596	-
Other creditors	6,550	77,366
Total	286,372	91,871

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Other creditors	385,390	-
Total	385,390	-

8.	Obligations under finance leases

		2026		2025
		£		£
	Finance lease and HP contracts	552,986		-

9.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	68,335	-
Total	68,335	-