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REGISTERED NUMBER: SC411442 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Easy Living Developments Limited

Easy Living Developments Limited (Registered number: SC411442)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Easy Living Developments Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: K G Davidson
T C Davidson
S H Mckechnie





SECRETARY: T C Davidson





REGISTERED OFFICE: 6 Logie Mill
Beaverbank Business Park
Edinburgh
East Lothian
EH7 4HG





REGISTERED NUMBER: SC411442 (Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Easy Living Developments Limited (Registered number: SC411442)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 67,299 63,677
Investments 6 2,678,352 1,270,383
2,745,651 1,334,060

CURRENT ASSETS
Stocks 132,708 45,231
Debtors 7 2,418,189 2,792,075
Cash at bank 865,039 413,142
3,415,936 3,250,448
CREDITORS
Amounts falling due within one year 8 2,023,454 1,911,552
NET CURRENT ASSETS 1,392,482 1,338,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,138,133

2,672,956

CREDITORS
Amounts falling due after more than one year 9 (6,583 ) (14,483 )

PROVISIONS FOR LIABILITIES 10 (672,493 ) (318,518 )
NET ASSETS 3,459,057 2,339,955

CAPITAL AND RESERVES
Called up share capital 11 400 400
Fair value reserve 12 1,994,251 938,275
Retained earnings 12 1,464,406 1,401,280
SHAREHOLDERS' FUNDS 3,459,057 2,339,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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.

Easy Living Developments Limited (Registered number: SC411442)

Balance Sheet - continued
30 November 2024


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 6 August 2025 and were signed on its behalf by:





K G Davidson - Director


Easy Living Developments Limited (Registered number: SC411442)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Easy Living Developments 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. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover is measured at the fair value of consideration received or receivable and represents the amounts receivable for the property, net of discounts and VAT. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value to date, based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance, the amounts are recorded as deferred income and included as part of the creditor due within one year.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight line basis over its expected useful life, as follows:

Plant and machinery -33% and 50% on cost
Fixtures and fittings -25% on cost
Motor vehicles-25% on cost
Short leasehold -20% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investments in joint ventures
Investments in joint ventures are recognised at fair value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease

Stocks
Work in progress is stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

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.


Easy Living Developments Limited (Registered number: SC411442)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
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 held under finance leases, hire purchases and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the lease to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimates can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 44 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 December 2023
and 30 November 2024 1,200
AMORTISATION
At 1 December 2023
and 30 November 2024 1,200
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

Easy Living Developments Limited (Registered number: SC411442)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2023 8,032 204,647 3,757 194,005 410,441
Additions - 10,479 - 42,000 52,479
Disposals - (82,380 ) - (38,000 ) (120,380 )
At 30 November 2024 8,032 132,746 3,757 198,005 342,540
DEPRECIATION
At 1 December 2023 8,032 169,654 3,387 165,691 346,764
Charge for year - 23,678 235 24,939 48,852
Eliminated on disposal - (82,375 ) - (38,000 ) (120,375 )
At 30 November 2024 8,032 110,957 3,622 152,630 275,241
NET BOOK VALUE
At 30 November 2024 - 21,789 135 45,375 67,299
At 30 November 2023 - 34,993 370 28,314 63,677

6. FIXED ASSET INVESTMENTS
Interest
in joint Other
venture investments Totals
£    £    £   
COST OR VALUATION
At 1 December 2023 1,251,583 18,800 1,270,383
Revaluations 1,407,969 - 1,407,969
At 30 November 2024 2,659,552 18,800 2,678,352
NET BOOK VALUE
At 30 November 2024 2,659,552 18,800 2,678,352
At 30 November 2023 1,251,583 18,800 1,270,383

Cost or valuation at 30 November 2024 is represented by:

Interest
in joint Other
venture investments Totals
£    £    £   
Valuation in 2024 2,659,002 - 2,659,002
Cost 550 18,800 19,350
2,659,552 18,800 2,678,352

Easy Living Developments Limited (Registered number: SC411442)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

6. FIXED ASSET INVESTMENTS - continued

If fixed asset investments had not been revalued they would have been included at the following historical cost:

30.11.24 30.11.23
£    £   
Cost 19,350 19,350

Fixed asset investments were valued on an open market basis on 30 November 2024 by a director .

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint ventures

AEL Developments Limited
Registered office: Suite 4.3, 4th Floor Exchange Court, 1 Dale Street, Liverpool, United Kingdom, L2 2ET
Nature of business: Development of building projects
%
Class of shares: holding
Ordinary 50.00
30.11.24 31.3.23
£    £   
Aggregate capital and reserves 4,819,104 3,004,523
Profit/(loss) for the year 1,216,140 (1,102,108 )

Devonshaw Leisure Ltd
Registered office: Unit 17 Eastfield Business Park, Newark Road South, Glenrothes, Scotland, KY7 4NS
Nature of business: Construction of domestic buildings
%
Class of shares: holding
Ordinary 50.00
31.1.25 31.1.24
£    £   
Aggregate capital and reserves (28,874 ) (27,903 )
Loss for the year (971 ) (4,058 )

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 1,133,709 1,293,623
Other debtors 1,284,480 1,498,452
2,418,189 2,792,075

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts 7,900 7,900
Trade creditors 866,263 1,110,001
Taxation and social security 251,945 136,011
Other creditors 897,346 657,640
2,023,454 1,911,552

Easy Living Developments Limited (Registered number: SC411442)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts 6,583 14,483

10. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax 672,493 318,518

Deferred
tax
£   
Balance at 1 December 2023 318,518
Provided during year 1,983
Revaluation of investments 351,992
Balance at 30 November 2024 672,493

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
200 Ordinary shares £1 200 200
200 Non-voting B £1 200 200
400 400

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 December 2023 1,401,280 938,275 2,339,555
Profit for the year 699,126 699,126
Dividends (636,000 ) (636,000 )
Deferred tax - (351,993 ) (351,993 )
Revaluation - 1,407,969 1,407,969
At 30 November 2024 1,464,406 1,994,251 3,458,657

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company owed the directors nil as at 30th November 2024 (2023: £209,950).

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £636,000 (2023 - £236,000) were paid to the directors .

Easy Living Developments Limited (Registered number: SC411442)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

14. RELATED PARTY DISCLOSURES - continued




Related Party



Transaction


Amount in the year
ended


Amount in the year
ended

Balance
receivable/
(payable) as at
Balance
receivable/
(payable) as
at
30.11.24 30.11.23 30.11.24 30.11.23
£ £ £ £

AEL Developments Limited Loan - - 705,640 705,640
Interest 69,642 69,404 - -
Sales 12,591,441 14,419,057 1,132,921 1,284,321
Dividends 500,000 - - -

Devonshaw Leisure Limited Loan 15,000 57,500 237,000 222,000
Sales 19,864 31,561 - -

The Kinross Brewery Limited Loan 14,728 23,235 79,938 65,210

Moffat Ventures Ltd Loan 5,000 - 5,000 -

Easy Living Developments Limited is a shareholder of AEL Developments Limited, Devonshaw Leisure Limited and The Kinross Brewery Limited.

A director of Easy Living Developments is a shareholder of Moffat Ventures Ltd.

15. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.