Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Edinburgh Risk Management (General) Limited
for the Year Ended 30 November 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Edinburgh Risk Management (General) Limited for the year ended 30 November 2025 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com.

This report is made solely to the Board of Directors of Edinburgh Risk Management (General) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Edinburgh Risk Management (General) Limited and state those matters that we have agreed to state to the Board of Directors of Edinburgh Risk Management (General) Limited, as a body, in this report in accordance with the requirements of The Institute of Chartered Accountants of Scotland as detailed at www.icas.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Edinburgh Risk Management (General) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Edinburgh Risk Management (General) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Edinburgh Risk Management (General) Limited. You consider that Edinburgh Risk Management (General) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Edinburgh Risk Management (General) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Mitchell Oswald Chartered Accountants
28 James Young Road
Bathgate
West Lothian
EH48 2UP

25 May 2026

Edinburgh Risk Management (General) Limited

(Registration number: SC222279)
Balance Sheet as at 30 November 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	197,300	263,504
Investments	6	3,500	3,500
		200,800	267,004
Current assets
Debtors	7	1,324,072	1,368,538
Cash at bank and in hand		481,521	43,119
		1,805,593	1,411,657
Creditors: Amounts falling due within one year	8	(640,533)	(305,565)
Net current assets		1,165,060	1,106,092
Total assets less current liabilities		1,365,860	1,373,096
Creditors: Amounts falling due after more than one year	8	(97,313)	(123,546)
Provisions for liabilities		(7,437)	(14,049)
Net assets		1,261,110	1,235,501
Capital and reserves
Called up share capital		103	103
Share premium reserve		98,172	98,172
Capital redemption reserve		2	2
Retained earnings		1,162,833	1,137,224
Shareholders' funds		1,261,110	1,235,501

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Edinburgh Risk Management (General) Limited

(Registration number: SC222279)
Balance Sheet as at 30 November 2025

Approved and authorised by the Board on 25 May 2026 and signed on its behalf by:
 

......................................... D A Mackie Director

......................................... A W Mackie Director

Edinburgh Risk Management (General) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
55 Market Street
Haddington
EH41 3JG

These financial statements were authorised for issue by the Board on 25 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received for commisions, fees and bonuses in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Revenue is recognised as follows:

Commission is recognised on the date of renewal of an insurance policy;
fees are recognised when the work in relation to this income has been completed; and
bonuses are recognised on receipt due to the uncertain nature of this revenue.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Edinburgh Risk Management (General) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Tenant's improvements	25% reducing balance
Fixtures & Fittings	25% reducing balance
Equipment	33.33% reducing balance
Motor vehicles	25% reducing balance

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which is 5 years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Edinburgh Risk Management (General) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the value of the minimum lease payments. These assets are depreciated in line with the company's depreciation policies. The corresponding liability to the lessor is included in the balance sheet as a creditor.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation creditor.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

Contributions to defined contribution plans are recognised in the profit and loss account as employee benefit expenses when they are due.

Financial instruments

Classification

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and director's loans to the company.

 Recognition and measurement

Trade debtors and trade creditors are measured at the undiscounted amounts receivable from a customer or payable to a supplier, which is normally the invoice price.

Loans received from a bank at a market rate of interest are recognised at the amount of cash received from the bank, less separately incurred transaction costs.

Director's loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.

Investments in equity shares which are publicly traded or where the fair value of the shares can be measured reliably are initially measured at fair value. Transaction costs are charged to profit or loss. The investments are subsequently remeasured in the balance sheet at fair value with changes in fair value recognised through profit and loss.

 Impairment

Trade debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in profit or loss.

Edinburgh Risk Management (General) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2024 - 14).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 December 2024	363,810	363,810
At 30 November 2025	363,810	363,810
Amortisation
At 1 December 2024	363,810	363,810
At 30 November 2025	363,810	363,810
Carrying amount
At 30 November 2025	-	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 December 2024	67,315	104,256	249,322	420,893
Additions	-	7,917	-	7,917
At 30 November 2025	67,315	112,173	249,322	428,810
Depreciation
At 1 December 2024	41,421	51,659	64,309	157,389
Charge for the year	6,474	17,083	50,564	74,121
At 30 November 2025	47,895	68,742	114,873	231,510
Carrying amount
At 30 November 2025	19,420	43,431	134,449	197,300
At 30 November 2024	25,894	52,597	185,013	263,504

Included within the net book value of land and buildings above is £19,421 (2024 - £25,894) in respect of long leasehold land and buildings.
 

Edinburgh Risk Management (General) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

6	Investments

	2025 £	2024 £
Investments in subsidiaries	3,500	3,500