Eastside Discount Centre Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC325424 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EASTSIDE DISCOUNT CENTRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L Cheyne

D V J Cheyne

REGISTERED OFFICE:

1 East Craibstone Street

Aberdeen

AB11 6YQ

REGISTERED NUMBER:

SC325424 (Scotland)

FIXED ASSETS

Intangible assets

5

2,500

Tangible assets

6

2,057,707

2,004,907

2,060,207

2,007,407

CURRENT ASSETS

Stocks

756,743

710,167

Debtors

7

426,131

367,191

Cash at bank and in hand

804,937

624,848

1,987,811

1,702,206

CREDITORS

Amounts falling due within one year

8

636,474

616,308

NET CURRENT ASSETS

1,351,337

1,085,898

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,411,544

3,093,305

CREDITORS

Amounts falling due after more than one
year

9

(303,412

)

(459,470

)

PROVISIONS FOR LIABILITIES

(96,182

)

(70,895

)

NET ASSETS

3,011,950

2,562,940

CAPITAL AND RESERVES

Called up share capital

13,333

Capital redemption reserve

6,667

Retained earnings

2,991,950

2,542,940

SHAREHOLDERS' FUNDS

3,011,950

2,562,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 31 October 2025 and were signed on its behalf by:

D V J Cheyne - Director

1.	STATUTORY INFORMATION

Eastside Discount Centre 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention, modified to included the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Going Concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

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, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised seperatly from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably.

Intangible assets comprise of the company's brand. Applications have been made to the Intellectual Property Office once the application is successful, the costs will be amortised over its estimated useful life.

Tangible fixed assets

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

Land and buildings

-

not depreciated

Plant and machinery etc

-

25% on cost, 20% on reducing balance, 20% on cost and 5% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held in 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 79 (2023 - 68 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 January 2024

and 31 December 2024

325,000

2,500

327,500

AMORTISATION

At 1 January 2024

and 31 December 2024

325,000

-

325,000

NET BOOK VALUE

At 31 December 2024

-

2,500

At 31 December 2023

-

2,500

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

1,576,153

1,253,497

2,829,650

Additions

-

157,546

At 31 December 2024

1,576,153

1,411,043

2,987,196

DEPRECIATION

At 1 January 2024

-

824,743

Charge for year

-

104,746

At 31 December 2024

-

929,489

NET BOOK VALUE

At 31 December 2024

1,576,153

481,554

2,057,707

At 31 December 2023

1,576,153

428,754

2,004,907

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

88,254

76,713

Other debtors

337,877

290,478

426,131

367,191

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

29,951

68,843

Hire purchase contracts

1,908

5,725

Trade creditors

227,901

176,199

Taxation and social security

339,717

306,193

Other creditors

36,997

59,348

636,474

616,308

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

303,412

457,562

Hire purchase contracts

-

1,908

303,412

459,470

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

209,943

234,467

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

333,363

526,405

Hire purchase contracts

1,908

7,633

335,271

534,038

Hire purchase liabilities are secured by fixed charges over the assets held under the respective hire purchase agreement.

Bank loans are secured by a floating charge and standard securities over properties held by the company and a personal guarantee provided by the Director.

11.	PENSION COMMITMENTS

Included within other creditors are outstanding pension contributions of £7,533 (2023 - £6,105).

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of the fact that they own 100% of the issued share capital of the company.