IRIS Accounts Production v24.3.0.553 SC510203 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5102032022-12-31SC5102032023-12-31SC5102032023-01-012023-12-31SC5102032021-12-31SC5102032022-01-012022-12-31SC5102032022-12-31SC510203ns15:Scotland2023-01-012023-12-31SC510203ns14:PoundSterling2023-01-012023-12-31SC510203ns10:Director12023-01-012023-12-31SC510203ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC510203ns10:SmallEntities2023-01-012023-12-31SC510203ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC510203ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC510203ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC510203ns10:FullAccounts2023-01-012023-12-31SC51020312023-01-012023-12-31SC510203ns10:Director22023-01-012023-12-31SC510203ns10:RegisteredOffice2023-01-012023-12-31SC510203ns5:CurrentFinancialInstruments2023-12-31SC510203ns5:CurrentFinancialInstruments2022-12-31SC510203ns5:Non-currentFinancialInstruments2023-12-31SC510203ns5:Non-currentFinancialInstruments2022-12-31SC510203ns5:ShareCapital2023-12-31SC510203ns5:ShareCapital2022-12-31SC510203ns5:RetainedEarningsAccumulatedLosses2023-12-31SC510203ns5:RetainedEarningsAccumulatedLosses2022-12-31SC510203ns5:NetGoodwill2023-01-012023-12-31SC510203ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31SC510203ns5:PlantMachinery2023-01-012023-12-31SC510203ns5:NetGoodwill2023-12-31SC510203ns5:LandBuildings2022-12-31SC510203ns5:PlantMachinery2022-12-31SC510203ns5:LandBuildings2023-01-012023-12-31SC510203ns5:LandBuildings2023-12-31SC510203ns5:PlantMachinery2023-12-31SC510203ns5:LandBuildings2022-12-31SC510203ns5:PlantMachinery2022-12-31SC510203ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-31SC510203ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-31SC510203ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-31SC510203ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-31SC510203ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC510203ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: SC510203 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DEVERON DIRECT LIMITED

DEVERON DIRECT LIMITED (REGISTERED NUMBER: SC510203)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DEVERON DIRECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D V J Cheyne
K M West





REGISTERED OFFICE: Station Brae
Macduff
Aberdeenshire
AB44 1UL





REGISTERED NUMBER: SC510203 (Scotland)

DEVERON DIRECT LIMITED (REGISTERED NUMBER: SC510203)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 160,000 -
Tangible assets 6 213,618 43,736
373,618 43,736

CURRENT ASSETS
Stocks 199,497 194,618
Debtors 7 192,361 114,948
Cash at bank and in hand 125,750 153,703
517,608 463,269
CREDITORS
Amounts falling due within one year 8 247,472 106,847
NET CURRENT ASSETS 270,136 356,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

643,754

400,158

CREDITORS
Amounts falling due after more than one
year

9

(113,781

)

(21,656

)

PROVISIONS FOR LIABILITIES (27,155 ) (5,525 )
NET ASSETS 502,818 372,977

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 502,816 372,975
SHAREHOLDERS' FUNDS 502,818 372,977

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DEVERON DIRECT LIMITED (REGISTERED NUMBER: SC510203)

BALANCE SHEET - continued
31 DECEMBER 2023


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 9 July 2024 and were signed on its behalf by:





D V J Cheyne - Director


DEVERON DIRECT LIMITED (REGISTERED NUMBER: SC510203)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Deveron Direct Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on cost and at varying rates on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

DEVERON DIRECT LIMITED (REGISTERED NUMBER: SC510203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 4 ) .

DEVERON DIRECT LIMITED (REGISTERED NUMBER: SC510203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 160,000
At 31 December 2023 160,000
NET BOOK VALUE
At 31 December 2023 160,000

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 - 84,463 84,463
Additions 105,000 88,607 193,607
At 31 December 2023 105,000 173,070 278,070
DEPRECIATION
At 1 January 2023 - 40,727 40,727
Charge for year - 23,725 23,725
At 31 December 2023 - 64,452 64,452
NET BOOK VALUE
At 31 December 2023 105,000 108,618 213,618
At 31 December 2022 - 43,736 43,736

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 34,987
DEPRECIATION
At 1 January 2023 2,187
Charge for year 8,747
At 31 December 2023 10,934
NET BOOK VALUE
At 31 December 2023 24,053
At 31 December 2022 32,800

DEVERON DIRECT LIMITED (REGISTERED NUMBER: SC510203)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 186,376 112,668
Other debtors 5,985 2,280
192,361 114,948

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,875 7,875
Trade creditors 143,619 81,883
Taxation and social security 49,696 1,875
Other creditors 46,282 15,214
247,472 106,847

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 13,781 21,656
Other creditors 100,000 -
113,781 21,656

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of the fact that they own 100% of the issued share capital of the company.