ACCOUNTS - Final Accounts preparation

Registered number: SC660408

DIAMOND SPORT RETAIL LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2026

DIAMOND SPORT RETAIL LIMITED

CONTENTS

	Page
Balance Sheet	1
Notes to the Financial Statements	2 - 6

DIAMOND SPORT RETAIL LIMITED

REGISTERED NUMBER: SC660408

BALANCE SHEET

AS AT 31 JANUARY 2026

		2026		2025
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	4,576		34
Cash at bank and in hand		564		627
		5,140		661
Creditors: amounts falling due within one year	6	(23,378)		(22,098)
Net current liabilities			(18,238)		(21,437)
Total assets less current liabilities			(18,238)		(21,437)

Net liabilities			(18,238)		(21,437)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(18,338)	(21,537)
		(18,238)	(21,437)

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 profit and loss account 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.

K M Ryan

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

DIAMOND SPORT RETAIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

1.	General information

Diamond Sport Retail Limited is a private company limited by shares incorporated in Scotland. The registered office is Yard Road, Blairgowrie, Perthshire, PH10 6NW.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 the historical cost convention. The principal accounting policies adopted are set out below.

Diamond Sport Retail Limited is a wholly owned subsidiary of GL Dameck Limited which is a subsidiary of Dameck Holdings Limited. The results of Diamond Sport Retail Limited are included in the consolidated financial statements of Dameck Holdings Limited which are available from Yard Road, Blairgowrie, Perthshire, PH10 6NW.

The immediate parent undertaking is GL Dameck Limited. The ultimate parent undertaking is Dameck Holdings Limited, a company registered in Scotland, with their registered office being Yard Road, Blairgowrie, Perthshire, PH10 6NW.

The following principal accounting policies have been applied:

2.2

Going concern

The company ceased trading in the year ended 31 January 2022 following the expiration of its main contract. Accordingly, the directors do not consider the company to be a going concern and the financial statements have been prepared on a basis other than that of going concern. No adjustments arose as a result of ceasing to apply the going concern basis.

While the company winds down it relies on the support of its parent company.

2.3

Taxation

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.

Page 2

DIAMOND SPORT RETAIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

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.

2.6

Financial instruments

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.

Page 3

DIAMOND SPORT RETAIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.6

Financial instruments (continued)

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.

2.7

Equity instruments

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.

2.8

Taxation

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.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historic experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the view of the directors there are no significant judgements and key sources of estimation uncertainty in the preparation of the financial statements.

Page 4

DIAMOND SPORT RETAIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Employees

The average monthly number of employees, including the directors, during the year was as follows:

			2026	2025
			No.	No.


			0	0

Debtors

					2026	2025
					£	£


Amounts owed by group undertakings	4,491	-
Other debtors	85	34
	4,576	34

6.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	360	2,520
Amounts owed to group undertakings	23,018	17,478
Accruals and deferred income	-	2,100
	23,378	22,098

7.	Share capital
		2026	2025
		£	£

Authorised, allotted, called up and fully paid

100 (2025 - 100) Ordinary shares of £1.00 each	100	100

8.	Banking security

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.

Page 5

DIAMOND SPORT RETAIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

9.	Related party transactions
	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.

10.	Auditor's information

The auditor's report on the financial statements for the year ended 31 January 2026 was unqualified.

In their report, the auditor emphasised the following matter without qualifying their report:

We draw attention to note 2.2 in the financial statements, which explains that the company ceased trading during the year to 31 January 2022 and therefore the directors do not consider the company to be a going concern. Accordingly the financial statements have been prepared on a basis other than that of a going concern basis as described in note 2.2. Our opinion is not modified in respect of this matter.

The audit report was signed on 14 September 2026 by Iain Binnie (Senior Statutory Auditor) on behalf of MHA.

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