REGISTERED NUMBER: SC428000 (Scotland)

Audited Financial Statements for the Year Ended 31 October 2025

for

Driveline Holdings Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

463,724

423,546

Investments

5

255,478

296,382

719,202

719,928

CURRENT ASSETS

Stocks

329,643

284,900

Debtors

6

3,049,600

2,037,475

Cash at bank

309,314

1,104,432

3,688,557

3,426,807

CREDITORS

Amounts falling due within one year

7

(528,716

)

(1,102,171

)

NET CURRENT ASSETS

3,159,841

2,324,636

TOTAL ASSETS LESS CURRENT LIABILITIES

3,879,043

3,044,564

PROVISIONS FOR LIABILITIES

(57,074

)

(32,234

)

NET ASSETS

3,821,969

3,012,330

CAPITAL AND RESERVES

Called up share capital

76

76

Capital redemption reserve

24

24

Retained earnings

3,821,869

3,012,230

3,821,969

3,012,330

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 22 July 2026 and were signed on its behalf by:

Stewart McLean - Director

1.	STATUTORY INFORMATION

Driveline Holdings Limited is a private company, limited by shares, domiciled in Scotland, registration number SC482000. The registered office is 4 Hope Street, Edinburgh, EH2 4DB.

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.

Preparation of consolidated financial statements

The financial statements contain information about Driveline Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

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 group companies.

Significant judgements and estimates

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are outlined below.

1. Useful lives of depreciable assets (Property, Plant and Equipment)

Management reviews the useful lives and residual values of depreciable assets at each reporting date, based on the expected utility of the assets. Uncertainties in these estimates relate to technological obsolescence and changes in usage, which could impact future depreciation charges.

2. Impairment of trade receivables

The company estimates the provision for expected credit losses (or impairment) of trade receivables. This requires assumptions regarding the likelihood of collection and the credit risk profile of customers based on past experience and forward-looking economic factors.

3. Inventory valuation and provisions

Management reviews the net realisable value (NRV) of inventory to assess potential impairment. Estimates are applied when determining the selling price less costs to sell, and judgements are required regarding obsolescence, physical damage, and shifting consumer demand.

Turnover

Turnover represents net invoiced sales of goods and services in respect of the manufacture and repair of propshafts, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation

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

Plant and machinery etc

-

33% on cost, 25% on cost and 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investments in joint ventures

Investments in joint ventures are recognised at fair value with annual adjustment made through the profit and loss account.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Basic financial assets (including trade and other debtors, cash and bank balances) and basic financial liabilities (including trade and other creditors) are initially measured at the transaction price. They are subsequently measured at amortized cost using the effective interest method, less any provision for impairment.

At the end of each reporting period, the company assesses whether there is objective evidence of impairment of any financial asset. If there is, an impairment loss is recognised in the income statement.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled, or expires.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Going concern

The directors of the company have reviewed the company's financial position for 12 months from the balance sheet signing date and it is the directors belief that the company should prepare financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2024 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2024

1,638,689

Additions

285,391

Disposals

(28,224

)

At 31 October 2025

1,895,856

DEPRECIATION

At 1 November 2024

1,215,143

Charge for year

245,213

Eliminated on disposal

(28,224

)

At 31 October 2025

1,432,132

NET BOOK VALUE

At 31 October 2025

463,724

At 31 October 2024

423,546

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in joint

undertakings

venture

Totals

£

£

£

COST

At 1 November 2024

85

296,297

296,382

Share of profit/(loss)

-

(40,819

)

(40,819

)

Impairments

(85

)

-

(85

)

At 31 October 2025

-

255,478

255,478

NET BOOK VALUE

At 31 October 2025

-

255,478

255,478

At 31 October 2024

85

296,297

296,382

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade debtors

994,127

935,269

Amounts owed by group undertakings

1,784,195

747,793

Amounts owed by joint ventures

103,954

154,483

Other debtors

167,324

199,930

3,049,600

2,037,475

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade creditors

228,896

258,170

Amounts owed to group undertakings

-

570,923

Taxation and social security

213,341

194,500

Other creditors

86,479

78,578

528,716

1,102,171

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.10.25

31.10.24

£

£

Within one year

194,180

149,249

Between one and five years

630,181

264,320

In more than five years

114,653

14,603

939,014

428,172

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

The Report of the Auditors was unqualified.

Greig Brown (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

10.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is Caledonian Heritable Limited, a company registered in Scotland. The financial statements of Caledonian Heritable Limited can be obtained from Companies House and its registered office is 46 Charlotte Square, Edinburgh, Scotland, EH2 4HQ.