Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Deeforth Ltd
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Deeforth Ltd for the year ended 31 March 2025 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member/member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com.

This report is made solely to the Board of Directors of Deeforth Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Deeforth Ltd and state those matters that we have agreed to state to the Board of Directors of Deeforth Ltd, as a body, in this report in accordance with the requirements of The Institute of Chartered Accountants of Scotland as detailed at www.icas.com.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Deeforth Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Deeforth Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Deeforth Ltd. You consider that Deeforth Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Deeforth Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Mitchell Oswald Chartered Accountants
28 James Young Road
Bathgate
West Lothian
EH48 2UP

9 December 2025

Deeforth Ltd

(Registration number: SC527919)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	5	2,650,000	2,610,000
Current assets
Debtors	6	3,025	2,823
Cash at bank and in hand		142,312	527,590
		145,337	530,413
Creditors: Amounts falling due within one year	7	(486,065)	(926,910)
Net current liabilities		(340,728)	(396,497)
Total assets less current liabilities		2,309,272	2,213,503
Creditors: Amounts falling due after more than one year	7	(1,541,584)	(1,517,788)
Provisions for liabilities		(127,318)	(117,318)
Net assets		640,370	578,397
Capital and reserves
Called up share capital		100	100
Other reserves		398,942	368,942
Retained earnings		241,328	209,355
Shareholders' funds		640,370	578,397

Deeforth Ltd

(Registration number: SC527919)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 December 2025
 

......................................... M K Payne Director

Deeforth Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
5/3 South Learmonth Gardens
Edinburgh
EH4 1EY

These financial statements were authorised for issue by the director on 9 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Revenue is measured at the fair value of the the consideration received or receivable and represents amounts receivable for sales to third parties in the normal course of business, net of discounts, VAT and other related taxes.

Revenue from rental of properties is recognised when services have been provided and the right to consideration has been earned.

Tax

Tax is recognised in the profit or loss of the company.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Deferred tax is accounted for in respect of all material timing differences. Deferred tax is charged/(credited) to the profit and loss account.

Deeforth Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% on reducing balance

Investment property

Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently, investment properties are measured at fair value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair value of investment properties are included in profit and loss in the period in which they arise.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Provisions

Provisions are set up only where it is possible that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Deeforth Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Financial instruments

Classification

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and director's loans to the company.

 Recognition and measurement

Trade debtors and trade creditors are measured at the undiscounted amounts receivable from a customer or payable to a supplier, which is normally the invoice price.

Loans received from a bank at a market rate of interest are recognised at the amount of cash received from the bank, less separately incurred transaction costs

Director's loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.

Investments in equity shares which are not publicly traded and where the fair value of the shares cannot be measured reliably are initially measured at cost, including transaction costs. The investment is not remeasured except where impairment has been identified.

 Impairment

Trade debtors and investments in equity shares are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 0 (2024 - 0).

Deeforth Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	359	359
At 31 March 2025	359	359
Depreciation
At 1 April 2024	359	359
At 31 March 2025	359	359
Carrying amount
At 31 March 2025	-	-

5	Investment properties

	2025 £
At 1 April	2,610,000
Fair value adjustments	40,000
At 31 March	2,650,000