REGISTERED NUMBER: SO307518 (Scotland)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Blair Cadell LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

A N G Macdonald

S M Masterton

K E Vanderburg Sole

REGISTERED OFFICE:

The Bond House

5 Breadalbane Street

Edinburgh

EH6 5JH

REGISTERED NUMBER:

SO307518 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of a firm of solicitors.

DESIGNATED MEMBERS

The designated members during the year under review were:

A N G Macdonald

S M Masterton

K E Vanderburg Sole

D Jardine resigned on 31 December 2024.

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £544,187 (2024 - £370,978 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

A N G Macdonald - Designated member

11 September 2025

TURNOVER

1,471,043

1,068,916

Direct costs

104,003

6,814

GROSS PROFIT

1,367,040

1,062,102

Administrative expenses

970,094

768,251

396,946

293,851

Other operating income

129,904

65,376

OPERATING PROFIT

5

526,850

359,227

Interest receivable and similar income

20,460

15,132

547,310

374,359

Interest payable and similar expenses

3,123

3,381

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

544,187

370,978

FIXED ASSETS

Intangible assets

6

-

-

Tangible assets

7

321,032

314,597

321,032

314,597

CURRENT ASSETS

Stocks

129,913

111,020

Debtors

8

41,521

42,793

Cash at bank and in hand

984,459

1,252,932

1,155,893

1,406,745

CREDITORS

Amounts falling due within one year

9

877,825

1,252,162

NET CURRENT ASSETS

278,068

154,583

TOTAL ASSETS LESS CURRENT LIABILITIES

599,100

469,180

CREDITORS

Amounts falling due after more than one year

10

-

17,960

NET ASSETS ATTRIBUTABLE TO MEMBERS

599,100

451,220

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

294,000

146,120

MEMBERS' OTHER INTERESTS

Capital accounts

305,100

305,100

599,100

451,220

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

294,000

146,120

Members' other interests

305,100

305,100

599,100

451,220

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 11 September 2025 and were signed by:

A N G Macdonald - Designated member

1.	TRANSFER OF TRADE

2.	STATUTORY INFORMATION

Blair Cadell LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

3.	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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

Nil

Plant and machinery etc

-

20% on reducing balance and 20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 13 (2024 - 13 ) .

5.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1.6.23

Year Ended

to

31.3.25

31.3.24

£

£

Depreciation - owned assets

7,933

9,148

6.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

6,960

AMORTISATION

At 1 April 2024

and 31 March 2025

6,960

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

7.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

300,000

61,910

361,910

Additions

-

14,368

14,368

At 31 March 2025

300,000

76,278

376,278

DEPRECIATION

At 1 April 2024

-

47,313

47,313

Charge for year

-

7,933

7,933

At 31 March 2025

-

55,246

55,246

NET BOOK VALUE

At 31 March 2025

300,000

21,032

321,032

At 31 March 2024

300,000

14,597

314,597

Cost or valuation at 31 March 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

300,000

76,278

376,278

Land and buildings are valued at cost, subject to revaluation at the members' discretion. Gains or losses on revaluation are allocated between members' property capital accounts proportionate to each member's interest in the relevant property.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Outstanding fees

3,237

5,536

Other debtors

1,026

360

Due from clients

10,664

8,035

Prepayments and accrued income

26,594

28,862

41,521

42,793

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

14,417

9,684

Trade creditors

3,467

8,866

VAT

40,509

29,128

Other creditors

69,905

19,819

Sundry creditors

97,216

20,291

Due to clients

652,311

1,164,374

877,825

1,252,162

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

17,960

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of an insolvency, members rank behind all other creditors and are entitled to payment of surplus only after all creditors and costs of liquidation have been paid.