REGISTERED NUMBER: SC197200 (Scotland)

Financial Statements for the Year Ended 31 December 2024

for

HSL Compliance (Scotland) Ltd

Previously known as

DMA Canyon Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Directors:

G M Hartley

B P Hartley

A P Nicholls

Registered office:

14 Canyon Road

Netherton Industrial Estate

Wishaw

Lanarkshire

ML2 0EG

Registered number:

SC197200 (Scotland)

Auditors:

Acre Accountancy Limited

Statutory Auditor

Certified Accountants

Unit 2 Foley Works

Foley Trading Estate

Hereford

Herefordshire

HR1 2SF

FIXED ASSETS

Intangible assets

4

21,643

58,025

Tangible assets

5

16,625

25,808

38,268

83,833

CURRENT ASSETS

Stocks

336,616

250,971

Debtors

1,683,076

1,402,020

Cash at bank and in hand

122,861

321,299

2,142,553

1,974,290

CREDITORS

Amounts falling due within one year

(675,495

)

(672,404

)

NET CURRENT ASSETS

1,467,058

1,301,886

TOTAL ASSETS LESS CURRENT LIABILITIES

1,505,326

1,385,719

CREDITORS

Amounts falling due after more than one year

-

(15,825

)

NET ASSETS

1,505,326

1,369,894

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Share premium

169,700

169,700

Retained earnings

1,334,626

1,199,194

SHAREHOLDERS' FUNDS

1,505,326

1,369,894

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

B P Hartley - Director

1.	STATUTORY INFORMATION

HSL Compliance (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.

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 arising in connection with the acquisition of businesses is amortised evenly over its estimated useful life.

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.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

During the period depreciation was recalculated to align the policies with those of the Group.

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 Profit and Loss Account, 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 40 (2023 - 41 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

Cost

At 1 January 2024

and 31 December 2024

313,751

Amortisation

At 1 January 2024

255,726

Amortisation for year

36,382

At 31 December 2024

292,108

Net book value

At 31 December 2024

21,643

At 31 December 2023

58,025

5.	TANGIBLE FIXED ASSETS

Totals

£

Cost

At 1 January 2024

129,784

Additions

2,993

At 31 December 2024

132,777

Depreciation

At 1 January 2024

103,976

Charge for year

12,176

At 31 December 2024

116,152

Net book value

At 31 December 2024

16,625

At 31 December 2023

25,808

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

15,685

4,489

Between one and five years

-

15,825

15,685

20,314

Non-cancellable

operating leases

2024

2023

£

£

Within one year

15,965

96,183

Between one and five years

-

9,356

15,965

105,539

7.	SECURED DEBTS

The company entered into a security arrangement dated 30th September 2022 (the "debenture") as part of the Group bank arrangements, containing fixed and floating charges over the company's assets.

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Class:

Nominal

Number:

value:

£

370

Ordinary A shares

£1

370

333

Ordinary B shares

£1

333

234

Ordinary C shares

£1

234

37

Ordinary D shares

£1

37

26

Ordinary Other shares

£1

26

1,000

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

The Report of the Auditors was unqualified.

Mr Mark Bevan FCCA (Senior Statutory Auditor)

for and on behalf of Acre Accountancy Limited

10.	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 subsidiaries within the group.

11.	POST BALANCE SHEET EVENTS

The company passed a special resolution on 22 August 2025 changing its name from DMA Canyon Ltd to HSL Compliance (Scotland) Ltd.

HSL Compliance Group Limited prepares financial statements into which the results of the Company are consolidated. On 28 March 2025, 100% of the ordinary share capital of HSL Compliance Group Limited was purchased by Mariner Bidco Limited, an investment holding company ultimately controlled by IK Investment Partners AIFM, a private limited liability company incorporated in Luxembourg which acts as manager of the IK Small Cap III Fund No.1 SCSp and IK Small Cap III Fund No.2 SCSp.

The controlling party note reflects the above change in ultimate controlling party.

12.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is HSL Compliance Ltd.

The smallest group to consolidate these financial statements is HSL Compliance Group Limited, a company registered in England and Wales at Alton House Alton Business Park, Alton Road, Ross-On-Wye, Herefordshire, United Kingdom, HR9 5BP.

The largest group to consolidate these financial statements is Mariner Topco Limited, a company registered in England and Wales at Alton House Alton Business Park, Alton Road, Ross-On-Wye, Herefordshire, United Kingdom, HR9 5BP

The ultimate controlling party is IK Investment Partners AIFM, a private limited liability company incorporated in Luxembourg which acts as manager of the IK Small Cap III Fund No.1 SCSp and IK Small Cap III Fund No.2 SCSp.