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REGISTERED NUMBER: SC420722 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2025

for

Cowan & Partners Limited

Cowan & Partners Limited (Registered number: SC420722)






Contents of the Financial Statements
for the Year Ended 30 April 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cowan & Partners Limited

Company Information
for the Year Ended 30 April 2025







DIRECTOR: M R J Gillies





SECRETARY: J R Cheape





REGISTERED OFFICE: 60 Constitution Street
Edinburgh
EH6 6RR





REGISTERED NUMBER: SC420722 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Cowan & Partners Limited (Registered number: SC420722)

Balance Sheet
30 April 2025

30.4.25 30.4.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 210,000 240,000
Tangible assets 5 11,801 6,379
221,801 246,379

CURRENT ASSETS
Stocks 143,027 126,599
Debtors 6 85,919 153,474
Cash at bank and in hand 200,339 218,293
429,285 498,366
CREDITORS
Amounts falling due within one year 7 243,361 246,835
NET CURRENT ASSETS 185,924 251,531
TOTAL ASSETS LESS CURRENT
LIABILITIES

407,725

497,910

CREDITORS
Amounts falling due after more than one
year

8

24,354

29,868
NET ASSETS 383,371 468,042

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 373,371 458,042
SHAREHOLDERS' FUNDS 383,371 468,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Cowan & Partners Limited (Registered number: SC420722)

Balance Sheet - continued
30 April 2025


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 8 August 2025 and were signed by:





M R J Gillies - Director


Cowan & Partners Limited (Registered number: SC420722)

Notes to the Financial Statements
for the Year Ended 30 April 2025

1. STATUTORY INFORMATION

Cowan & Partners Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover includes net invoiced sales of services, excluding Value Added Tax, and work in progress at expected realisable value. The company policy is to recognise turnover at the time the work is done.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant & Machinery etc. - 33% on cost

Stocks
Work in progress is valued at expected realisable value.

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 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.

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes for certain employees. Contributions payable to the pension schemes are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 21 ) .

Cowan & Partners Limited (Registered number: SC420722)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2025

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2024
and 30 April 2025 600,000
AMORTISATION
At 1 May 2024 360,000
Charge for year 30,000
At 30 April 2025 390,000
NET BOOK VALUE
At 30 April 2025 210,000
At 30 April 2024 240,000

No indicators of impairment were noted in the year.

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2024 82,601
Additions 11,051
At 30 April 2025 93,652
DEPRECIATION
At 1 May 2024 76,222
Charge for year 5,629
At 30 April 2025 81,851
NET BOOK VALUE
At 30 April 2025 11,801
At 30 April 2024 6,379

No indicators of impairment were noted in the year.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.25 30.4.24
£    £   
Trade debtors 82,889 150,749
Other debtors 3,030 2,725
85,919 153,474

Cowan & Partners Limited (Registered number: SC420722)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.25 30.4.24
£    £   
Bank loans and overdrafts 5,514 5,514
Trade creditors 4,017 7,426
Taxation and social security 160,745 181,147
Other creditors 73,085 52,748
243,361 246,835

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.25 30.4.24
£    £   
Bank loans 24,354 29,868

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,298 7,812

9. SECURED DEBTS

At the balance sheet date, Bank of Scotland PLC held a first ranked floating charge & bond over the assets of the company. A second ranked fixed charge is also held by TSB Bank PLC.