THISTLE INITIATIVES LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2027-03-19 (in 10mo)
Last made up 2026-03-05
Watchouts
None on the register
Cash
£3M
+36% highest in 6 filed years
Net assets
£3M
-3% vs 2024
Employees
70
+18.6% highest in 6 filed years
Profit before tax
£172K
-80.7% lowest in 3 filed years
Net assets
6-year trend · vs Industrials median
Accounts
6-year trend · latest reflected 2025-03-31
| Metric | Trend | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | £9,284,305 | £10,085,169 | |
| Operating profit | — | — | — | — | £1,638,270 | £439,639 | |
| Profit before tax | — | — | — | £1,159,522 | £888,892 | £171,872 | |
| Net profit | — | — | — | £861,295 | £266,568 | -£96,167 | |
| Cash | £759,666 | £1,797,590 | £2,064,720 | £1,577,751 | £2,404,974 | £3,270,271 | |
| Total assets less current liabilities | £1,562,790 | £2,344,870 | £2,412,115 | £4,878,722 | £5,393,566 | £5,568,771 | |
| Net assets | £918,300 | £2,323,041 | £2,408,477 | £2,917,772 | £3,184,340 | £3,088,173 | |
| Equity | £918,300 | £2,323,041 | £2,408,477 | £2,917,772 | £3,184,340 | £3,088,173 | |
| Average employees | 30 | 31 | 35 | 41 | 59 | 70 | |
| Wages | — | — | — | £2,922,646 | £4,263,446 | £5,512,183 | |
| Directors' remuneration | — | — | — | £457,473 | £658,384 | £940,794 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
+8.6%
£9,284,305 £10,085,169
-
Cash
+36%
£2,404,974 £3,270,271
highest in 6 filed years
-
Net assets
-3%
£3,184,340 £3,088,173
-
Employees
+18.6%
59 70
highest in 6 filed years
-
Operating profit
-73.2%
£1,638,270 £439,639
-
Profit before tax
-80.7%
£888,892 £171,872
lowest in 3 filed years
-
Wages
+29.3%
£4,263,446 £5,512,183
highest in 3 filed years
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | 17.6% | 4.4% | |
| Net margin | — | — | — | — | 2.9% | -1.0% | |
| Return on capital employed | — | — | — | — | 30.4% | 7.9% | |
| Gearing (liabilities / total assets) | — | — | — | — | 66.3% | 68.7% | |
| Current ratio | — | — | — | — | 1.42x | 1.57x | |
| Interest cover | — | — | — | — | 6.66x | 1.63x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Goodman Jones LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that it remains appropriate to continue to adopt the going concern basis in preparing the annual report and financial statements.”
Group structure
- THISTLE INITIATIVES LIMITED · parent
- Whitby 1 (CSL) Limited 100%
- ATEB Business Solutions Limited 100%
- ATEB IT Solutions Limited 100%
Significant events
- “As detailed in note 24, subsequent to the year end the company disposed of the entire share capital of ATEB IT Solutions Limited. This is a non adjusting event and no changes have been made to the carrying value of the investment as at 31 March 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BELLENGER, Michael Graham | Director | 2013-08-05 | Nov 1981 | British |
| DINGWALL, James Malcolm | Director | 2009-11-17 | Aug 1977 | British |
| FRIEDRICHS, Scott Dieter | Director | 2026-02-16 | Jan 1968 | British |
| KNIGHT, Alexander William | Director | 2026-02-16 | Oct 1977 | British |
| KNIGHT, Susan Elizabeth | Director | 2026-02-27 | Aug 1962 | British |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FOREMAN, Stuart Arthur | Director | 2012-10-23 | 2013-07-31 |
| LONG, Sophie Elizabeth | Director | 2021-04-26 | 2025-07-01 |
| MCWHIR, David William | Director | 2013-04-01 | 2015-02-01 |
| O'NEILL, Shane Thomas | Director | 2016-11-16 | 2020-04-30 |
| PASCHALIS, Alex | Director | 2016-08-01 | 2022-10-13 |
| SMITH, Paul Kenneth | Director | 2012-05-02 | 2016-03-31 |
| SMITH, Zoe Frances | Director | 2009-11-17 | 2012-01-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Thistle Initiatives Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-04-23 | Active |
| Dragontail Ventures Limited | Corporate entity | Shares 50–75% | 2016-04-06 | Ceased 2021-04-23 |
| Primary Ltd | Corporate entity | Shares 25–50% | 2016-04-06 | Ceased 2020-04-30 |
Filing timeline
Last 20 of 73 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-10 RESOLUTIONS Resolution
- 2026-03-10 MA Memorandum articles
- 2021-05-13 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-19 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-03-10 | RESOLUTIONS | resolution | Resolution | |
| 2026-03-10 | MA | incorporation | Memorandum articles | |
| 2026-02-27 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-18 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-18 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-05 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-01-14 | AA | accounts | Accounts with accounts type full | |
| 2025-07-25 | TM01 | officers | Termination director company with name termination date | |
| 2025-03-26 | AA | accounts | Accounts with accounts type full | |
| 2025-03-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-07 | AA | accounts | Accounts with accounts type small | |
| 2024-03-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-03-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-24 | AA | accounts | Accounts with accounts type total exemption full | |
| 2022-10-14 | TM01 | officers | Termination director company with name termination date | |
| 2022-03-07 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2021-12-09 | AA | accounts | Accounts with accounts type total exemption full | |
| 2021-05-13 | RESOLUTIONS | resolution | Resolution |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- Capital events
- 0
- Officers appointed
- 3
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.