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Registered number: SC535131
DEANESTOR SCOTLAND LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DEANESTOR SCOTLAND LIMITED
REGISTERED NUMBER:SC535131
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BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 May 2025.
The notes on pages 2 to 7 form part of these financial statements.
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DEANESTOR SCOTLAND LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Deanestor Scotland Limited is a private company limited by shares and is registered and incorporated in
Scotland (registered number: SC535131). The registered office is Suite G1, Buchan House Carnegie Campus, Enterprise Way, Dunfermline, Fire, Scotland, KY11 8GR. The principal activity of the company is the distribution and installation of specialist furniture.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Turnover is recognised at the fair value of the consideration received or receivable for sale of goods and services to external customers in the ordinary nature of the business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Turnover is shown net of Value Added Tax.
Revenue is recognised in relation to separately identifiable components of a single transaction when necessary to reflect the substance of the arrangement and in relation to two or more linked transactions when necessary to understand the commercial effect.
Sale of goods
Turnover is recognised when it and the associated costs can be measured reliably and future economic benefits are probable. Sales of goods are recognised when goods are delivered and legal title has passed and the company has no continuing managerial involvement associated with ownership or effective control of goods sold. Delivery occurs when the products have arrived at the specified location, and the risks and rewards of ownership have been transferred to the customer.
Sale of installation
Turnover from contracts for installation services is recognised by reference to the stage of completion when the stage of completion can be estimated reliably. The stage of completion is calculated by comparing the number of goods installed as a proportion of total goods to be installed.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
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DEANESTOR SCOTLAND LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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DEANESTOR SCOTLAND LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities such as bank and cash balances, trade and other accounts receivable
and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans
and other accounts receivable and payable, are initially measured at the transaction price and
subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
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The average monthly number of employees, including directors, during the year was 8 (2023 - 8).
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DEANESTOR SCOTLAND LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charge for the year on owned assets
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Amounts owed by parent company
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Prepayments and accrued income
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Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
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DEANESTOR SCOTLAND LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due within one year
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Amounts owed to parent company
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Other taxation and social security
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Amounts due to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Short term timing differences
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £12,823 (2023 - £10,949). Contributions totalling £2,435 (2023 - £1,941) were payable to the fund at the balance sheet date and are included in creditors.
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DEANESTOR SCOTLAND LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Commitments under operating leases
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At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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During the year, the Company entered into transactions with an entity under common control, Off Site Solutions Limited. The Company made sales during the year of £NIL (2023: £1,320) to Off Site Solutions Limited. At the reporting date, £NIL (2023: £NIL) was owed to the Company from Off Site Solutions Limited.
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The immediate parent company is Deanestor Limited, a company incorporated in England and Wales. Deanestor Limited is the smallest and largest group for which consolidated accounts are prepared, which include the results of the company. The registered office of Deanestor Limited is Warren Way, Crown Farm Business Park, Mansfield, Nottinghamshire, NG19 0FL. The consolidated financial statements are publicly available from Companies House.
The directors consider the ultimate parent undertaking to be Primeco Limited, by nature of its majority shareholding in Deanestor Limited. Primeco Limited is a company registered in Guernsey.
The directors consider the ultimate controlling party to be the Tonkinson Family.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 19 May 2025 by Andrew Irvine (Senior Statutory Auditor) on behalf of Shorts.
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