REGISTERED NUMBER: SC582577 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

The Bute Law Practice Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Fraser

J Hannay

REGISTERED OFFICE:

34 Castle Street

Rothesay

PA20 9HD

REGISTERED NUMBER:

SC582577 (Scotland)

ACCOUNTANTS:

Gerber Landa & Gee

Chartered Accountants

Pavilion 1

Finnieston Business Park

Minerva Way

GLASGOW

G3 8AU

FIXED ASSETS

Tangible assets

4

121,634

135,590

CURRENT ASSETS

Debtors

5

148,893

132,455

Cash at bank and in hand

1,570

13,561

150,463

146,016

CREDITORS

Amounts falling due within one year

6

93,871

97,463

NET CURRENT ASSETS

56,592

48,553

TOTAL ASSETS LESS CURRENT LIABILITIES

178,226

184,143

PROVISIONS FOR LIABILITIES

-

4,103

NET ASSETS

178,226

180,040

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

178,225

180,039

178,226

180,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 8 December 2025 and were signed on its behalf by:

C Fraser - Director

1.	STATUTORY INFORMATION

The Bute Law Practice 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.

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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

TURNOVER

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

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

-

2% on cost

Plant and machinery etc

-

25% on cost, 15% on reducing balance and 2% on cost

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 or deferred taxation assets and liabilities are not discounted.

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.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

140,000

39,092

179,092

Disposals

-

(36,842

)

(36,842

)

At 31 March 2025

140,000

2,250

142,250

DEPRECIATION

At 1 April 2024

17,490

26,012

43,502

Charge for year

2,800

45

2,845

Eliminated on disposal

-

(25,731

)

(25,731

)

At 31 March 2025

20,290

326

20,616

NET BOOK VALUE

At 31 March 2025

119,710

1,924

121,634

At 31 March 2024

122,510

13,080

135,590

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

148,893

132,455

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

20,938

16,428

Taxation and social security

45,823

41,188

Other creditors

27,110

39,847

93,871

97,463

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank overdrafts

20,938

16,428

The debts are secured by standard securities over the freehold property of the company.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

C Fraser

Balance outstanding at start of year

22,220

33,587

Amounts advanced

104,967

58,133

Amounts repaid

(65,382

)

(69,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

61,805

22,220

At 31 March 2025, the company is due a balance of £61,804 (2024: £22,220) by the director Mr C Fraser. No interest has been charged on this loan and it will be repaid in full within 9 months of the year end.