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Registered number: SC062120
ARDBLAIR SPORTS IMPORTERS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2026
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ARDBLAIR SPORTS IMPORTERS LIMITED
CONTENTS
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Notes to the financial statements
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ARDBLAIR SPORTS IMPORTERS LIMITED
REGISTERED NUMBER: SC062120
BALANCE SHEET
AS AT 31 JANUARY 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 September 2026.
The notes on pages 2 to 12 form part of these financial statements.
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
Ardblair Sports Importers Limited is a private company limited by shares incorporated in Scotland. The registered office is Yard Road, Blairgowrie, Perthshire, PH10 6NW.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
Ardblair Sports Importers Limited is a wholly owned subsidiary of Dameck Holdings Limited and the results of Ardblair Sports Importers Limited are included in the consolidated financial statements of Dameck Holdings Limited which are available from Yard Road, Blairgowrie, Perthshire, PH10 6NW.
The ultimate parent undertaking is Dameck Holdings Limited, a company registered in Scotland, with their registered office being Yard Road, Blairgowrie, Perthshire, PH10 6NW.
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 financial statements.
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of turnover can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
The specific criteria of the entity's sales channels are described below.
Sale of goods - retail
Turnover from the sale of retail goods is recognised on sale to the customer, which is considered the point of delivery.
Sale of goods - internet based transactions
Turnover from the sale of goods via the internet is recognised when the risks and rewards of the goods is passed to the customer. For goods that are delivered to the customer this is the point of acceptance of the goods by the customer, and for 'click and collect' transactions this is the point of collection by the customer.
Sale of goods - wholesale
Turnover from wholesale sales is recognised when the risks and rewards of the goods is passed to the customer, which is usually at the point of dispatch of the goods.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The estimated useful lives range as follows:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and
operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a
long term interest and where the company has significant influence. The company considers that it
has significant influence where it has the power to participate in the financial and operating decisions
of the associate.
Entities in which the company has a long term interest and shares control under a contractual
arrangement are classified as jointly controlled entities.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a average weighted standard costing basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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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.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Recoverability of trade debtors
Recoverability of trade debtors are evaluated and provisions for doubtful debts are made where appropriate. Provisions are based on experience, the age of debt, customer relations and payment history. The actual level of debt collected may differ from the estimated level of recovery and can therefore impact future operating results.
Stock valuation and provision
Stocks are valued at the lower of cost and net realisable value (NRV). Cost is calculated by establishing the cumulative value of the weighted average purchase price, the cost of duty, commission and shipping. These costs are reassessed regularly. NRV is calculated as the resale price less any expected further sales costs and discounts.
The stock provision is calculated using estimates and judgements by management. The provision is calculated to provide for prior season stock, slow moving stock, stock selling at a loss and out of license products.
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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The average monthly number of employees, including the directors, during the year was as follows:
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Charge for the year on owned assets
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Investments in subsidiary companies
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The following were subsidiary undertakings of the Company:
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Swallowtail Lifestyle Limited
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Yard Road, Blairgowrie, Scotland, PH10 6NW
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Amplified Clothing Limited
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Yard Road, Blairgowrie, Scotland, PH10 6NW
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104-105 Saffron Hill, London, EC1N 8HB
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Principal activities:
Swallowtail Lifestyle Limited is engaged in the retail sale of clothing and footwear through specialised retail outlets.
Amplified Clothing Limited is engaged in the wholesale distribution of clothing and footwear to retail and commercial customers.
Addict Holdings Limited operates as a holding company and provides business support services to group undertakings and associated businesses.
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Finished goods and goods for resale
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The carrying value of stocks are stated net of impairment losses totalling £678,205 (2025 - £828,205). The amount of stock impairment provision is recognised through cost of sales.
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Retirement benefit schemes
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Defined contribution schemes
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Charge to profit or loss in respect of defined contribution schemes
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The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
At 31 January 2026, pension contributions of £5,536 (2025: £20,574) were outstanding and included within creditors.
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Authorised, allotted, called up and fully paid
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100 (2025 - 100) Ordinary shares shares of £1.00 each
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The company is party to a multilateral agreement with its bankers for guarantees provided in respect of the bank borrowings of Ardblair Sports Importers Limited, Dameck Holdings Limited, GL Dameck Limited, ASI Brands Limited, Diamond Sport Retail Limited, Swallowtail Lifestyle Limited and Amplified Clothing Limited.
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Commitments under operating leases
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At 31 January 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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ARDBLAIR SPORTS IMPORTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
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Related party transactions
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Amounts due to related parties
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Amounts due from related parties
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Other information
The directors are of the opinion that transactions with the parent company and fellow group subsidiaries are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.
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Post balance sheet events
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During the last two financial years, Ardblair Sports Importers Limited supported the wider Group by fulfilling the final years of the Superga and Sebago licences, which had previously been held by GL Dameck Limited. These licences end in December 2026. As a result, ASI's sales and profitability are expected to return to the levels seen prior to this arrangement, with the continuation of the core business.
The auditor's report on the financial statements for the year ended 31 January 2026 was unqualified.
The audit report was signed on 14 September 2026 by Iain Binnie (Senior statutory auditor) on behalf of MHA.
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