REGISTERED NUMBER: SC127228 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KOMPAN SCOTLAND LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Griffin

P E Larsen

S P Sylvester

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

FIXED ASSETS

Tangible assets

4

32,440

31,451

CURRENT ASSETS

Stocks

5

662,476

788,192

Debtors

6

759,027

1,320,356

Cash at bank

626,110

423,039

2,047,613

2,531,587

CREDITORS

Amounts falling due within one year

7

1,318,033

1,973,884

NET CURRENT ASSETS

729,580

557,703

TOTAL ASSETS LESS CURRENT LIABILITIES

762,020

589,154

PROVISIONS FOR LIABILITIES

7,435

7,272

NET ASSETS

754,585

581,882

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

754,485

581,782

SHAREHOLDERS' FUNDS

754,585

581,882

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 29 September 2025 and were signed on its behalf by:

C Griffin - Director

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.

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 29 (2023 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

7,148

36,722

1,229

45,099

Additions

-

7,365

-

7,365

At 31 December 2024

7,148

44,087

1,229

52,464

DEPRECIATION

At 1 January 2024

7,148

6,192

308

13,648

Charge for year

-

5,966

410

6,376

At 31 December 2024

7,148

12,158

718

20,024

NET BOOK VALUE

At 31 December 2024

-

31,929

511

32,440

At 31 December 2023

-

30,530

921

31,451

5.

STOCKS

2024

2023

£

£

Finished goods

662,476

788,192

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

434,974

1,220,348

Amounts owed by group undertakings

175,334

-

Other debtors

23,422

23,991

Prepayments

125,297

76,017

759,027

1,320,356

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

200,850

255,331

Amounts owed to group undertakings

226,629

968,723

Corporation tax

1,642

114,570

Social security and other taxes

74,514

58,440

VAT

594,749

430,442

Other creditors

4,636

-

Accrued expenses

215,013

146,378

1,318,033

1,973,884

8.	LEASING AGREEMENTS

Land and buildings

Other

2024

2023

2024

2023

£

£

£

£

Not later than one year

60,000

60,000

70,848

56,171

After one year but not more than five years

115,000

170,000

103,172

124,407

After five years

-

-

-

-

175,000

230,000

174,020

180,578

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

2024

2023

value:

£

£

100

Ordinary

£1

100

100

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 2024, 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 2024. 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.