REGISTERED NUMBER: SC219102 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

FOR

DEVERON COACHES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Milne

Mrs S Milne

Mrs P Bruce

M Milne

Miss E Milne

REGISTERED OFFICE:

6 Union Road

Macduff

AB44 1UJ

REGISTERED NUMBER:

SC219102 (Scotland)

ACCOUNTANTS:

Ritsons CA

15 Boyndie Street

Banff

Aberdeenshire

AB45 1DY

FIXED ASSETS

Tangible assets

4

3,024,489

2,579,865

Investment property

5

325,527

325,527

3,350,016

2,905,392

CURRENT ASSETS

Stocks

6,201

6,305

Debtors

6

521,507

378,090

Cash at bank and in hand

938,229

728,112

1,465,937

1,112,507

CREDITORS

Amounts falling due within one year

7

(841,264

)

(307,136

)

NET CURRENT ASSETS

624,673

805,371

TOTAL ASSETS LESS CURRENT LIABILITIES

3,974,689

3,710,763

CREDITORS

Amounts falling due after more than one year

8

-

(24,722

)

PROVISIONS FOR LIABILITIES

(446,253

)

(375,185

)

NET ASSETS

3,528,436

3,310,856

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

11

4,782

4,782

Retained earnings

3,523,554

3,305,974

3,528,436

3,310,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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.

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 9 December 2025 and were signed on its behalf by:

Mrs S Milne - Director

1.	STATUTORY INFORMATION

Deveron Coaches 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.

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

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

Freehold property - 2% on cost

Plant and machinery - 25% on reducing balance

Fixtures and fittings - 25% on reducing balance

Motor vehicles - 25% on reducing balance

Computer equipment - 25% on reducing balance

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STOCKS

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, which ever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 72 (2024 - 72 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2024

632,886

5,955,714

6,588,600

Additions

90,708

881,963

972,671

Disposals

-

(97,628

)

(97,628

)

At 31 May 2025

723,594

6,740,049

7,463,643

DEPRECIATION

At 1 June 2024

121,938

3,886,797

4,008,735

Charge for year

14,472

477,152

491,624

Eliminated on disposal

-

(61,205

)

(61,205

)

At 31 May 2025

136,410

4,302,744

4,439,154

NET BOOK VALUE

At 31 May 2025

587,184

2,437,305

3,024,489

At 31 May 2024

510,948

2,068,917

2,579,865

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

and 31 May 2025

325,527

NET BOOK VALUE

At 31 May 2025

325,527

At 31 May 2024

325,527

The original investment properties were purchased during 2016/17 and there has been no significant additional work done with regard to the properties therefore no valuation was carried out by a qualified person but the directors are satisfied that the property values are appropriate.

The additional investment property is a house at Kirkhill yard which is now being let by the company. The cost price of the house including improvements to the property is £250,514. A valuation of the property has been carried out by Gordon J Philip, Architectural Consultants and confirms a current market value of £250,000.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

369,815

346,317

Other debtors

151,692

31,773

521,507

378,090

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 9)

24,722

56,667

Trade creditors

716,518

113,714

Taxation and social security

58,185

94,874

Other creditors

41,839

41,881

841,264

307,136

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 9)

-

24,722

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows

Hire purchase contracts

31.5.25

31.5.24

Net obligations repayable:

Within one year

24,722

56,667

Between one and five years

0

24,722

24,722

81,389

Non-cancellable operating

leases

31.5.25

31.5.24

Net obligations repayable:

Within one year

45,000

45,000

Between one and five years

0

90,000

45,000

135,000

10.	SECURED DEBTS

The Clydesdale Bank plc hold a floating charge (registered 14/06/2012) over the assets of the company.

The Clydesdale Bank plc hold a standard security (registered 06/02/2003) over the ground at March Road Industrial Estate Buckie.

11.

RESERVES

Fair

value

reserve

£

At 1 June 2024

and 31 May 2025

4,782

12.	RELATED PARTY DISCLOSURES

As at 31 May 2025 Mr A Milne & Mrs S. Milne were due £13,275 from the company (2024 - £13,275). This loan is unsecured, interest free and repayable on demand.

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.