Thistle_First_Limited - Accounts


Thistle First Limited
Unaudited Financial Statements
For Filing with Registrar
For the period ended 30 September 2020
Company Registration No. 09015838 (England and Wales)
Thistle First Limited
Company Information
Directors
R E Elliot
R Whitehair
Company number
09015838
Registered office
Devonshire House
60 Goswell Road
London
EC1M 7AD
Accountants
Moore Kingston Smith LLP
Devonshire House
60 Goswell Road
London
EC1M 7AD
Thistle First Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Thistle First Limited
Balance Sheet
As at 30 September 2020
Page 1
30 September 2020
31 March 2019
Notes
£
£
£
£
Current assets
Debtors
3
545
297,267
Cash at bank and in hand
27,390
2,768
27,935
300,035
Creditors: amounts falling due within one year
4
(22,469)
(298,691)
Net current assets
5,466
1,344
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
5,366
1,244
Total equity
5,466
1,344

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period 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 by the board of directors and authorised for issue on 28 June 2021 and are signed on its behalf by:
R E Elliot
Director
Company Registration No. 09015838
Thistle First Limited
Notes to the Financial Statements
For the period ended 30 September 2020
Page 2
1
Accounting policies
Company information

Thistle First Limited is a private company limited by shares incorporated in England and Wales. The registered office is Devonshire House, 60 Goswell Road, London, EC1M 7AD.

1.1
Accounting convention

These financial statements have been prepared in accordance with section 1A of 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

The company reporting date was changed to 30 September to align with related companies under common control. The current period is 18 months from 1 April 2019 to 30 September 2020. The comparative period was 12 months from 1 April 2018 to 31 March 2019. Therefore comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Cash at bank and in hand

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

1.5
Financial instruments

Basic financial instruments are measured at cost. The company has no other financial instruments or basic financial instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other periods 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.

Thistle First Limited
Notes to the Financial Statements (Continued)
For the period ended 30 September 2020
Page 3
2
Employees

The company had no employees in the current or prior year.

3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
-
0
12,928
Other debtors
545
284,339
545
297,267
4
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
-
0
201
Corporation tax
1,305
104
Other taxation and social security
-
0
1,305
Other creditors
21,164
297,081
22,469
298,691
5
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 ordinary shares of £1 each
100
100
100
100
6
Related party transactions

During the period the company was charged a management fee of £8,000 (2019: £8,000) by a company under common control. At the balance sheet date the company was owed £440 (2019: £284,239) from companies under common control. At the balance sheet date the company owed £20,000 (2019: £294,813) to companies under common control.

7
Controlling party

The company is controlled by M C Denmark, the majority shareholder.

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