Frank Irvine Solicitors Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC398218

Frank Irvine Solicitors Ltd

Filleted Unaudited Financial Statements

31 May 2025

Frank Irvine Solicitors Ltd

Financial Statements

Year ended 31 May 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Frank Irvine Solicitors Ltd

Statement of Financial Position

31 May 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		78,065	85,944

Current assets

Stocks		37,000	38,212
Debtors	6	346,355	468,379
Cash at bank and in hand		798,861	166,342
		------------	---------
		1,182,216	672,933

Creditors: amounts falling due within one year	7	563,111		247,491
		------------		---------
Net current assets			619,105	425,442
			---------	---------
Total assets less current liabilities			697,170	511,386

Provisions

Taxation including deferred tax	14,435	15,814
	---------	---------
Net assets	682,735	495,572
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	682,635	495,472
	---------	---------
Shareholder funds	682,735	495,572
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Frank Irvine Solicitors Ltd

Statement of Financial Position (continued)

31 May 2025

These financial statements were approved by the board of directors and authorised for issue on 2 October 2025 , and are signed on behalf of the board by:

Ms N Guidi

Director

Company registration number: SC398218

Frank Irvine Solicitors Ltd

Notes to the Financial Statements

Year ended 31 May 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Carlton Buildings, 63 Carlton Place, Glasgow, G5 9TW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

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 the annual financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	10% reducing balance
Plant and machinery	-	15% reducing balance and 3 years straight line
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Stocks and work in progress

Stocks and Work in Progress are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held on demand. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of income and retained earnings. Loans received from a bank at the market rate of interest are recognised at the amount of cash received from the bank, less separately incurred transition costs. Directors' loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2024: 13 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 June 2024	50,143	72,468	20,404	42,613	185,628
Additions	–	17,256	–	–	17,256
	--------	--------	--------	--------	---------
At 31 May 2025	50,143	89,724	20,404	42,613	202,884
	--------	--------	--------	--------	---------
Depreciation
At 1 June 2024	28,598	56,816	14,270	–	99,684
Charge for the year	2,156	11,404	922	10,653	25,135
	--------	--------	--------	--------	---------
At 31 May 2025	30,754	68,220	15,192	10,653	124,819
	--------	--------	--------	--------	---------
Carrying amount
At 31 May 2025	19,389	21,504	5,212	31,960	78,065
	--------	--------	--------	--------	---------
At 31 May 2024	21,545	15,652	6,134	42,613	85,944
	--------	--------	--------	--------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	69,323	76,787
Other debtors	277,032	391,592
	---------	---------
	346,355	468,379
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	95,485	64,120
Social security and other taxes	57,665	65,582
Pension creditor	1,482	–
Other creditors	408,479	117,789
	---------	---------
	563,111	247,491
	---------	---------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr F Irvine	215,764	14,305	( 75,000)	155,069
	---------	--------	--------	---------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr F Irvine	290,967	5,797	( 81,000)	215,764
	---------	-------	--------	---------

9. Related party transactions

There were no related party transactions during the year which are required to be disclosed under FRS 102 1A.