Company registration number SC292121 (Scotland)
DSF TRUSTEES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
DSF TRUSTEES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DSF TRUSTEES LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
3
7,939
7,939
Cash at bank and in hand
123
51
8,062
7,990
Creditors: amounts falling due within one year
4
(2,210)
(2,060)
Net current assets
5,852
5,930
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
5,752
5,830
Total equity
5,852
5,930

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 October 2025 and are signed on its behalf by:
P A Bearn
Director
Company registration number SC292121 (Scotland)
DSF TRUSTEES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information

DSF Trustees Limited is a private company, limited by shares and incorporated in Scotland. The registered office is 50 Lothian Road, Festival Square, Edinburgh, Midlothian, Scotland, EH3 9WJ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at 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.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

DSF TRUSTEES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
7,935
7,935
Prepayments and accrued income
4
4
7,939
7,939
4
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings
2,210
2,060
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Tim Dawson
Statutory Auditor:
Hart Shaw LLP
Date of audit report:
29 October 2025
6
Parent company
DSF TRUSTEES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
6
Parent company
(Continued)
- 4 -

DSF Trustees Limited is a wholly owned subsidiary of DSF Holdings Limited, a company registered in Scotland.

DSF Holdings Limited is a wholly owned subsidiary of DSF High Performance Materials Limited, a company registered in England.

Copies of the financial statements of DSF High Performance Materials Limited may be obtained from DSF Performance Materials Limited, Friden, Newhaven, Nr Buxton, Derbyshire, England, SK17 0DX. This is the largest and smallest group into which these financial statements are consolidated.

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