REGISTERED NUMBER: SC776481 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

FOR

DERMOT HEGARTY LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D Hegarty

REGISTERED OFFICE:

Colin Hutton

40 Stronend Street

Glasgow

G22 6AR

REGISTERED NUMBER:

SC776481 (Scotland)

ACCOUNTANTS:

Thomas Barrie & Co LLP

4th Floor, Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

FIXED ASSETS

Intangible assets

4

53,777

60,377

Tangible assets

5

25,124

4,686

78,901

65,063

CURRENT ASSETS

Stocks

41,800

27,500

Debtors

6

57,478

44,181

Cash at bank and in hand

3,175

5,677

102,453

77,358

CREDITORS

Amounts falling due within one year

7

(164,807

)

(128,201

)

NET CURRENT LIABILITIES

(62,354

)

(50,843

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,547

14,220

CREDITORS

Amounts falling due after more than one year

8

(11,305

)

-

PROVISIONS FOR LIABILITIES

(4,774

)

(890

)

NET ASSETS

468

13,330

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

368

13,230

SHAREHOLDERS' FUNDS

468

13,330

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31 July 2026 and were signed by:

D Hegarty - Director

1.	STATUTORY INFORMATION

Dermot Hegarty Ltd is a private company, limited by shares, registered in Scotland, registration number SC776481.The registered office is Colin Hutton, 40 Stronend Street, Glasgow, G22 6AR.

The principal activity of the company was that of an Autosmart franchise.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Going concern

These financial statements have been prepared on the going concern basis despite the fact that Statement of Financial Position is showing a net current liability position of the Company. The key driver for this are loans provided to the Company by the director/shareholder, which are repayable on demand with no fixed terms of repayment. The director does not intend to recall the loans within the next 12 months, hence going concern basis of the Company is considered to be appropriate.

Significant judgements and estimates

In preparing these financial statements, the director is required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates used in the preparation of these accounts

Turnover

Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Sale of goods

Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer, recovery of the consideration is probable, the associated costs and possible return of goods can be estimated reliably, there is no continuing management involvement with the goods, and the amount of revenue can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of sixteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

Stocks

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

Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2024

and 31 July 2025

66,000

AMORTISATION

At 1 August 2024

5,623

Charge for year

6,600

At 31 July 2025

12,223

NET BOOK VALUE

At 31 July 2025

53,777

At 31 July 2024

60,377

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2024

5,000

Additions

84,535

Disposals

(60,000

)

At 31 July 2025

29,535

DEPRECIATION

At 1 August 2024

314

Charge for year

4,097

At 31 July 2025

4,411

NET BOOK VALUE

At 31 July 2025

25,124

At 31 July 2024

4,686

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

43,109

40,354

Other debtors

14,369

3,827

57,478

44,181

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

4,239

-

Trade creditors

45,147

27,900

Taxation and social security

3,657

3,657

Other creditors

111,764

96,644

164,807

128,201

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

11,305

-