Smith Scott Mullan + Associates Ltd 30/06/2025 iXBRL

Company registration number: SC149821

Smith Scott Mullan + Associates Ltd

Unaudited filleted financial statements

30 June 2025

Smith Scott Mullan + Associates Ltd

Statement of financial position

30 June 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	67,673		69,267
		_______		_______
			67,673		69,267

Current assets
Debtors	6	458,158		406,612
Cash at bank and in hand		475,171		291,525
		_______		_______
		933,329		698,137
Creditors: amounts falling due
within one year	7	( 323,203)		( 194,695)
		_______		_______
Net current assets			610,126		503,442
			_______		_______
Total assets less current liabilities			677,799		572,709

Creditors: amounts falling due
after more than one year	8		-		( 10,000)

Provisions for liabilities	9		( 16,010)		( 16,362)

			_______		_______
Net assets			661,789		546,347
			_______		_______

Capital and reserves
Called up share capital	12		24,000		24,000
Profit and loss account			637,789		522,347
			_______		_______
Shareholders funds			661,789		546,347
			_______		_______

For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have 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.

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.

These financial statements were approved by the board of directors and authorised for issue on 28 October 2025 , and are signed on behalf of the board by:

Eugene Mullan

Director

Company registration number: SC149821

Smith Scott Mullan + Associates Ltd

Notes to the financial statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in Scotland ( SC149821 ). The address of the registered office is 10 Rutland Square, Edinburgh, EH1 2AS.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity .

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts chargeable to clients for services provided during the year, including recoverable expenses on client assignments, excluding value added tax. Services provided to clients, which at the balance sheet date have not been billed to clients, have been recognised as turnover. Turnover recognised in this manner is based on an assessment of the fair value of services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on these engagements where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue that is recognised is included in trade debtors.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any impairment losses.

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:


Fixtures, fittings and equipment	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .

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 in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.Cash at bank and in hand includes cash and short term highly liquid investments.Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due .

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 in finance costs 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 27 (2024: 33 ).

5. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 July 2024	160,152	160,152
Additions	21,950	21,950
Disposals	( 7,759)	( 7,759)
	_______	_______
At 30 June 2025	174,343	174,343
	_______	_______
Depreciation
At 1 July 2024	90,886	90,886
Charge for the year	22,974	22,974
Disposals	( 7,190)	( 7,190)
	_______	_______
At 30 June 2025	106,670	106,670
	_______	_______
Carrying amount
At 30 June 2025	67,673	67,673
	_______	_______
At 30 June 2024	69,266	69,266
	_______	_______

6. Debtors

	2025	2024
	£	£
Trade debtors	373,751	322,871
Other debtors	84,407	83,741
	_______	_______
	458,158	406,612
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,022	10,043
Trade creditors	92,619	61,573
Corporation tax	74,492	5,449
Social security and other taxes	123,086	99,016
Other creditors	22,984	18,614
	_______	_______
	323,203	194,695
	_______	_______

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	-	10,000
	_______	_______

9. Provisions

	Deferred tax (note 10)	Total
	£	£
At 1 July 2024	16,362	16,362
Charges against provisions	( 352)	( 352)
	_______	_______
At 30 June 2025	16,010	16,010
	_______	_______

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 9)	16,010	16,362
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	16,010	16,362
	_______	_______

11. Financial instruments

All financial instruments that the company is party to are basic financial instruments.

12. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares shares of £ 1.00 each	24,000	24,000	24,000	24,000
	_______	_______	_______	_______

13. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Later than 1 year and not later than 5 years	150,000	213,570
	_______	_______