Company Registration No. SC445382 (Scotland)
Hutcheon Mearns Ltd
Unaudited accounts
for the year ended 31 March 2025
Hutcheon Mearns Ltd
Unaudited accounts
Contents
Hutcheon Mearns Ltd
Company Information
for the year ended 31 March 2025
Directors
Craig William Hutcheon
Adam Paterson Maitland
Company Number
SC445382 (Scotland)
Registered Office
2 Queen's Road
Aberdeen
AB15 4ZT
Scotland
Hutcheon Mearns Ltd
Statement of financial position
as at 31 March 2025
Tangible assets
281,314
306,357
Debtors
2,035,229
1,888,755
Cash at bank and in hand
2,669,917
1,408,131
Creditors: amounts falling due within one year
(1,900,773)
(1,308,413)
Net current assets
2,804,373
1,988,473
Total assets less current liabilities
3,157,144
2,323,578
Creditors: amounts falling due after more than one year
(5,285)
(15,660)
Provisions for liabilities
Deferred tax
(44,576)
(48,130)
Other provisions
(258,097)
(203,582)
Net assets
2,849,186
2,056,206
Hutcheon Mearns Ltd
Statement of financial position
as at 31 March 2025 (continued)
Called up share capital
114
114
Share premium
49,998
49,998
Capital redemption reserve
48
48
Profit and loss account
2,799,026
2,006,046
Shareholders' funds
2,849,186
2,056,206
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2025 and were signed on its behalf by
Craig William Hutcheon
Director
Company Registration No. SC445382
Hutcheon Mearns Ltd
Notes to the Accounts
for the year ended 31 March 2025
Hutcheon Mearns Ltd is a private company, limited by shares, registered in Scotland, registration number SC445382. The registered office is 2 Queen's Road, Aberdeen, AB15 4ZT, Scotland.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
remaining duration of the lease
Fixtures & fittings
20% straight line
Computer equipment
20% straight line
Investments in shares are included at fair value.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Hutcheon Mearns Ltd
Notes to the Accounts
for the year ended 31 March 2025
Provisions are recognised only when the company 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.
An entity shall measure a provision at the best estimate of the amount required to settle the obligation at the reporting date. The best estimate is the amount an entity would rationally pay to settle the obligation at the end of the reporting period or to transfer it to a third party at that time. When the effect of the time value of money is material, the amount of a provision shall be the present value of the amount = expected to be required to settle the obligation.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Total
Charge for the year
53,091
Hutcheon Mearns Ltd
Notes to the Accounts
for the year ended 31 March 2025
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £33,004 (2024: £27,877) were payable to the fund at the year end and are included in creditors: amounts falling due within one year.
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Operating lease commitments
2025
2024
At 31 March 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
161,304
139,467
Later than one year and not later than five years
470,013
530,051
Later than five years
175,000
245,000
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Average number of employees
During the year the average number of employees was 56 (2024: 46).