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REGISTERED NUMBER: SO300798 (Scotland)

Unaudited Financial Statements

for the Period 1 May 2024 to 31 March 2025

for

Gibson McKerrell Brown LLP

Gibson McKerrell Brown LLP (Registered number: SO300798)

Contents of the Financial Statements

for the Period 1 May 2024 to 31 March 2025

Page |

General Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 4 |

Gibson McKerrell Brown LLP

General Information

for the Period 1 May 2024 to 31 March 2025

| DESIGNATED MEMBERS: | J M Cordery

| Gibson McKerrell Brown Services Ltd.

| REGISTERED OFFICE: | 28 Rutland Square

| Edinburgh

| EH1 2BW

| REGISTERED NUMBER: | SO300798 (Scotland)

| BANKERS: | Clydesdale Bank

| 83 George Street

| Edinburgh

| EH2 3ES

Gibson McKerrell Brown LLP (Registered number: SO300798)

Statement of Financial Position

31 March 2025

| 31.3.25 | 30.4.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 54,133 |  | 99,937 |  |

Tangible assets | 5 | 17,212 |  | 23,550 |  |

71,345 |  | 123,487 |  |

CURRENT ASSETS

Debtors | 6 | 320,188 |  | 358,340 |  |

Prepayments and accrued income | 509,948 |  | 451,667 |  |

Cash at bank and in hand | 1,668 |  | 150,802 |  |

831,804 |  | 960,809 |  |

CREDITORS

Amounts falling due within one year | 7 | 809,387 |  | 819,707 |  |

NET CURRENT ASSETS | 22,417 |  | 141,102 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 93,762 |  | 264,589 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 46,737 |  | 107,804 |  |

NET ASSETS ATTRIBUTABLE TO MEMBERS | 47,025 |  | 156,785 |  |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 47,025 |  | 156,785 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 47,025 |  | 156,785 |  |

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 period 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.

Gibson McKerrell Brown LLP (Registered number: SO300798)

Statement of Financial Position - continued

31 March 2025

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 2 January 2026 and were signed by:

J M Cordery - Designated member

Gibson McKerrell Brown LLP (Registered number: SO300798)

Notes to the Financial Statements

for the Period 1 May 2024 to 31 March 2025

1. | STATUTORY INFORMATION

| Gibson McKerrell Brown LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is attributable to the company's principal activity of Chartered Accountants and Registered Auditors.

| Intangible assets

| Intangible Fixed Assets (Goodwill) are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

| Amortisation is calculated, using the straight line method, to amortise the depreciable amount of the assets to their residual values over their estimated useful lives as follows:

| Goodwill - 10 years on cost

| Amortisation and impairment losses are charged to the Statement of Comprehensive Income within administrative expenses.

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

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost. Cost includes the original purchase price and costs directly attributable to bringing the asset to its present location and into its present condition. After initial recognition, tangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is shorter.

| Plant and machinery - 25% on reducing balance

| The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

| Financial instruments

| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and payables, loans from banks and other third parties.

| At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

| Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

| Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Gibson McKerrell Brown LLP (Registered number: SO300798)

Notes to the Financial Statements - continued

for the Period 1 May 2024 to 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. | EMPLOYEE INFORMATION

| The average number of employees during the period was NIL (2024 - NIL).

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 May 2024

| and 31 March 2025 | 499,684 |  |

| AMORTISATION

| At 1 May 2024 | 399,747 |  |

| Charge for period | 45,804 |  |

| At 31 March 2025 | 445,551 |  |

| NET BOOK VALUE

| At 31 March 2025 | 54,133 |  |

| At 30 April 2024 | 99,937 |  |

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 May 2024

| and 31 March 2025 | 74,845 |  |

| DEPRECIATION

| At 1 May 2024 | 51,295 |  |

| Charge for period | 6,338 |  |

| At 31 March 2025 | 57,633 |  |

| NET BOOK VALUE

| At 31 March 2025 | 17,212 |  |

| At 30 April 2024 | 23,550 |  |

Gibson McKerrell Brown LLP (Registered number: SO300798)

Notes to the Financial Statements - continued

for the Period 1 May 2024 to 31 March 2025

5. | TANGIBLE FIXED ASSETS - continued

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

| etc

£ |

| COST

| At 1 May 2024

| and 31 March 2025 | 66,675 |  |

| DEPRECIATION

| At 1 May 2024 | 45,578 |  |

| Charge for period | 5,724 |  |

| At 31 March 2025 | 51,302 |  |

| NET BOOK VALUE

| At 31 March 2025 | 15,373 |  |

| At 30 April 2024 | 21,097 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 30.4.24

£ | £ |

| Trade debtors | 242,839 |  | 320,994 |  |

| Other debtors | 77,349 |  | 37,346 |  |

320,188 |  | 358,340 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 30.4.24

£ | £ |

| Bank loans and overdrafts | 85,053 |  | 152,055 |  |

| Hire purchase contracts (see note 9) | 9,923 |  | 27,325 |  |

| Trade creditors | 92,556 |  | 571,596 |  |

| Taxation and social security | - |  | 18,013 |  |

| Other creditors | 621,855 |  | 50,718 |  |

809,387 |  | 819,707 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.3.25 |  | 30.4.24

£ | £ |

| Bank loans | 4,190 |  | 104,889 |  |

| Hire purchase contracts (see note 9) | 8,566 |  | 2,915 |  |

| Other creditors | 33,981 |  | - |  |

46,737 |  | 107,804 |  |

Gibson McKerrell Brown LLP (Registered number: SO300798)

Notes to the Financial Statements - continued

for the Period 1 May 2024 to 31 March 2025

9. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 31.3.25 |  | 30.4.24 |

£ | £ |

| Net obligations repayable:

| Within one year | 9,923 |  | 27,325 |  |

| Between one and five years | 8,566 |  | 2,915 |  |

18,489 |  | 30,240 |  |

| Non-cancellable |

| operating leases |

| 31.3.25 |  | 30.4.24

£ | £ |

| Within one year | - |  | 46,634 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.3.25 |  | 30.4.24

£ | £ |

| Bank overdrafts | 75,053 |  | 86,673 |  |

| Bank loans | 14,190 |  | 170,271 |  |

89,243 |  | 256,944 |  |