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REGISTERED NUMBER: SC127228 (Scotland)
























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KOMPAN SCOTLAND LTD

KOMPAN SCOTLAND LTD (REGISTERED NUMBER: SC127228)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KOMPAN SCOTLAND LTD

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: C Griffin
P E Larsen
S P Sylvester
H F Damgaard-Hansen





SECRETARY: M E Pantling-Jones





REGISTERED OFFICE: 5 Dunlop Square
Deans Industrial Estate
Livingston
West Lothian
EH54 8SB





REGISTERED NUMBER: SC127228 (Scotland)





AUDITORS: TC Group
1 Rushmills
Bedford Road
Northampton
Northamptonshire
NN4 7YB

KOMPAN SCOTLAND LTD (REGISTERED NUMBER: SC127228)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,451 -

CURRENT ASSETS
Stocks 5 788,192 367,977
Debtors 6 1,320,356 789,987
Cash at bank 423,039 826,476
2,531,587 1,984,440
CREDITORS
Amounts falling due within one year 7 1,973,884 1,543,562
NET CURRENT ASSETS 557,703 440,878
TOTAL ASSETS LESS CURRENT LIABILITIES 589,154 440,878

PROVISIONS FOR LIABILITIES 7,272 -
NET ASSETS 581,882 440,878

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 581,782 440,778
SHAREHOLDERS' FUNDS 581,882 440,878

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





S P Sylvester - Director


KOMPAN SCOTLAND LTD (REGISTERED NUMBER: SC127228)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023


1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 £.

Going concern
As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from bank and other
third parties, loan's to related parties and investments in ordinary shares.

Short term debtors and creditors are measured at the transaction price. Other financial instruments,
including loans, are measured initially at fair value, net of transaction costs, and are measured
subsequently at amortised cost using the effective interest method, less any impairment.

Financial liabilities and equity are classified according to the substance of the financial instrument's
contractual obligations, rather than the financial instrument's legal form.


KOMPAN SCOTLAND LTD (REGISTERED NUMBER: SC127228)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 7,148 2,870 - 10,018
Additions - 33,852 1,229 35,081
At 31 December 2023 7,148 36,722 1,229 45,099
DEPRECIATION
At 1 January 2023 7,148 2,870 - 10,018
Charge for year - 3,322 308 3,630
At 31 December 2023 7,148 6,192 308 13,648
NET BOOK VALUE
At 31 December 2023 - 30,530 921 31,451
At 31 December 2022 - - - -

KOMPAN SCOTLAND LTD (REGISTERED NUMBER: SC127228)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


5. STOCKS
2023 2022
£    £   
Finished goods 788,192 367,977

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,220,348 707,925
Amounts owed by group undertakings - 36,694
Other debtors 23,991 5,747
Prepayments 76,017 39,621
1,320,356 789,987

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 255,331 283,697
Amounts owed to group undertakings 968,723 759,711
Corporation tax 114,570 58,686
Social security and other taxes 58,440 50,778
VAT 430,442 303,989
Accrued expenses 146,378 86,701
1,973,884 1,543,562

8. LEASING AGREEMENTS
Land and buildings Other
2023 2022 2023 2022
£ £ £ £
Not later than one year 60,000 67,300 56,171 21,196
After one year but not more than five
years

170,000

230,000

124,407

42,292
After five years - - - -
230,000 297,300 180,578 63,488

The company has entered into commercial leases on certain properties and items of machinery. These leases have an average duration of between 3 and 5 years. Only the property lease agreement contains an option for renewal, with such options being exercisable three months before the expiry of the leases. There are no restrictions placed upon the lessee.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

KOMPAN SCOTLAND LTD (REGISTERED NUMBER: SC127228)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Jones FCCA (Senior Statutory Auditor)
for and on behalf of TC Group

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned entities within the group.

12. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking at 31 December 2023, is Kompan Limited, a company registered in England and Wales. The ultimate parent undertaking and controlling party is Kompan Holding A/S, a company incorporated in Denmark and this is the only parent undertaking to consolidate these financial statements at 31 December 2023. The consolidated financial statements of KOMPAN Holding A/S can be obtained from the Company Secretary at: Kompan Scotland Limited, Serenity House Shirwell Crescent, Furzton Lake, Milton Keynes, England, MK4 1GA.