Company Registration No. SC522003 (Scotland)
Thistle Artificial Grass Limited
Unaudited accounts
for the year ended 31 August 2021
Thistle Artificial Grass Limited
Unaudited accounts
Contents
Thistle Artificial Grass Limited
Company Information
for the year ended 31 August 2021
Directors
Ian James Bruce
Edward Nicol Robson
Philip George Strachan
Company Number
SC522003 (Scotland)
Registered Office
Thistle House Woodside Road
Bridge of Don
Aberdeen
AB23 8EF
Thistle Artificial Grass Limited
Statement of financial position
as at
31 August 2021
Tangible assets
133,443
69,508
Inventories
73,424
46,857
Cash at bank and in hand
102,921
48,271
Creditors: amounts falling due within one year
(255,858)
(213,733)
Net current liabilities
(5,059)
(34,799)
Total assets less current liabilities
128,384
34,709
Creditors: amounts falling due after more than one year
(56,056)
(14,018)
Provisions for liabilities
Called up share capital
3,000
3,000
Profit and loss account
60,660
17,691
Shareholders' funds
63,660
20,691
For the year ending 31 August 2021 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 May 2022 and were signed on its behalf by
Philip George Strachan
Director
Company Registration No. SC522003
Thistle Artificial Grass Limited
Notes to the Accounts
for the year ended 31 August 2021
Thistle Artificial Grass Limited is a private company, limited by shares, registered in Scotland, registration number SC522003. The registered office is Thistle House Woodside Road, Bridge of Don, Aberdeen, AB23 8EF.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% straight line
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 items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Thistle Artificial Grass Limited
Notes to the Accounts
for the year ended 31 August 2021
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2020
17,454
83,770
5,083
106,307
Additions
6,735
78,852
195
85,782
At 31 August 2021
24,189
162,622
5,278
192,089
At 1 September 2020
10,225
24,669
1,905
36,799
Charge for the year
3,268
17,296
1,283
21,847
At 31 August 2021
13,493
41,965
3,188
58,646
At 31 August 2021
10,696
120,657
2,090
133,443
At 31 August 2020
7,229
59,101
3,178
69,508
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
100,594
59,101
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
74,116
83,416
6
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
25,094
18,779
Trade creditors
69,426
73,466
Taxes and social security
14,592
11,597
Other creditors
19,872
19,130
Loans from directors
6,651
9,000
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
56,056
14,018
Thistle Artificial Grass Limited
Notes to the Accounts
for the year ended 31 August 2021
8
Deferred taxation
2021
2020
Accelerated capital allowances
17,654
-
Tax losses carried forward
(8,986)
-
Provision at start of year
-
5,473
Charged/(credited) to the profit and loss account
8,668
(5,473)
Provision at end of year
8,668
-
9
Share capital
2021
2020
Allotted, called up and fully paid:
3,000 Ordinary shares of £1 each
3,000
3,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan provided to company
9,000
-
2,349
6,651
11
Transactions with related parties
The company is due a loan of £18,000 (2020 - £18,000) to Thistle Windows & Conservatories Limited, a company which operates under the control of Mr Bruce and Mr Robson. There is no repayment terns and no interest payable.
12
Average number of employees
During the year the average number of employees was 15 (2020: 12).