REGISTERED NUMBER: SC618686 (Scotland)

Unaudited Financial Statements for the Year Ended 31 August 2025

for

Groves-Raines Architects Studios Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N R P Groves-Raines

G R Groves-Raines

Mrs K H Hannesdottir

REGISTERED OFFICE:

Custom Lane

1 Custom Wharf

Edinburgh

EH6 6AL

REGISTERED NUMBER:

SC618686 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Tangible assets

4

135,000

190,346

CURRENT ASSETS

Stocks

800,000

800,438

Debtors

5

242,186

145,461

Cash at bank and in hand

51

12,780

1,042,237

958,679

CREDITORS

Amounts falling due within one year

6

593,531

379,368

NET CURRENT ASSETS

448,706

579,311

TOTAL ASSETS LESS CURRENT LIABILITIES

583,706

769,657

CREDITORS

Amounts falling due after more than one year

7

(24,722

)

(48,416

)

PROVISIONS FOR LIABILITIES

10

(31,405

)

(45,092

)

NET ASSETS

527,579

676,149

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

527,578

676,148

527,579

676,149

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 29 May 2026 and were signed on its behalf by:

G R Groves-Raines - Director

1.	STATUTORY INFORMATION

Groves-Raines Architects Studios Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

At the balance sheet date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Work in progress

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

Work in progress is recognised to the extent that no right to consideration exists for work at the balance sheet date. It is valued at the lower of cost and net realisable value. Cost comprises non-partner professional time costs, excluding any mark-up plus disbursements. Any non-recoverable work in progress is excluded.

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 creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

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

Rental paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Statement of Financial Position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Statement of Financial Position date.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2024 - 48 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2024

353,363

Additions

3,952

At 31 August 2025

357,315

DEPRECIATION

At 1 September 2024

163,017

Charge for year

59,298

At 31 August 2025

222,315

NET BOOK VALUE

At 31 August 2025

135,000

At 31 August 2024

190,346

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

24,571

37,713

Amounts owed by group undertakings

6,365

-

Other debtors

211,250

107,748

242,186

145,461

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans and overdrafts

58,924

-

Hire purchase contracts (see note 8)

15,361

15,361

Trade creditors

110,073

65,121

Amounts owed to participating interests

167,301

25,570

Taxation and social security

142,551

201,264

Other creditors

99,321

72,052

593,531

379,368

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Hire purchase contracts (see note 8)

24,722

40,083

Other creditors

-

8,333

24,722

48,416

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.8.25

31.8.24

£

£

Net obligations repayable:

Within one year

15,361

15,361

Between one and five years

24,722

40,083

40,083

55,444

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

£

Santander UK Plc loan

8,333

18,333

Santander UK Plc holds a floating charge over the assets of the company.

10.	PROVISIONS FOR LIABILITIES

31.8.25

31.8.24

£

£

Deferred tax

Accelerated capital allowances

31,405

45,092

Deferred

tax

£

Balance at 1 September 2024

45,092

Provided during year

(13,687

)

Balance at 31 August 2025

31,405

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.8.25

31.8.24

£

£

G R Groves-Raines

Balance outstanding at start of year

40,733

26,710

Amounts advanced

45,118

110,733

Amounts repaid

-

(96,710

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

85,851

40,733

12.	BOUNCE BACK LOAN SCHEME

The company has borrowed £50,000 under the Governments Bounce Back Loan Scheme. Under the scheme the Government provides the bank with a guarantee that the loan will be repaid in full. Interest is charged at the rate of 2.5% and the loan is repayable by installments as detailed below.

31.8.24

31.8.23

£

£

< 1 year

8,333

10,000

2-5 years

18,333

> 5 years

-

-

---------

----------

8,333

28,333

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