Company registration number SC136832 (Scotland)
JOHN SMITH AND COMPANY (EDINBURGH) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 19 JANUARY 2026
PAGES FOR FILING WITH REGISTRAR
JOHN SMITH AND COMPANY (EDINBURGH) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
JOHN SMITH AND COMPANY (EDINBURGH) LIMITED
BALANCE SHEET
AS AT
19 JANUARY 2026
19 January 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,025
2,344
Investment properties
4
10,395,000
10,395,000
Investments
5
-
0
85,000
10,397,025
10,482,344
Current assets
Debtors
6
109,489
138,628
Cash at bank and in hand
103,217
200,130
212,706
338,758
Creditors: amounts falling due within one year
7
(333,368)
(364,267)
Net current liabilities
(120,662)
(25,509)
Total assets less current liabilities
10,276,363
10,456,835
Creditors: amounts falling due after more than one year
8
(4,575,944)
(4,725,944)
Net assets
5,700,419
5,730,891
Capital and reserves
Called up share capital
9
63,529
63,529
Capital redemption reserve
120
120
Non-distributable profits reserve
1,740,033
1,740,033
Distributable profit and loss reserves
3,896,737
3,927,209
Total equity
5,700,419
5,730,891

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 19 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

JOHN SMITH AND COMPANY (EDINBURGH) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 19 JANUARY 2026
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 May 2026 and are signed on its behalf by:
N Atkins
Director
Company Registration No. SC136832
JOHN SMITH AND COMPANY (EDINBURGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 19 JANUARY 2026
- 3 -
1
Accounting policies
Company information

John Smith and Company (Edinburgh) Limited is a private company limited by shares incorporated in Scotland. The registered office is Level 5, 9 Haymarket Square, Edinburgh, Scotland, EH3 8RY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have considered a period of at least twelve months from the date on which these financial statements have been signed and having considered all information available to them, believe it appropriate to prepare the financial statements on a going concern basis.true

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Turnover represents rental income received from investment properties which is recognised in the period it covers.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
10% reducing balance & 10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

JOHN SMITH AND COMPANY (EDINBURGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 19 JANUARY 2026
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

JOHN SMITH AND COMPANY (EDINBURGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 19 JANUARY 2026
1
Accounting policies
(Continued)
- 5 -
1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
6
6
JOHN SMITH AND COMPANY (EDINBURGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 19 JANUARY 2026
- 6 -
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 20 January 2025 and 19 January 2026
3,848
Depreciation and impairment
At 20 January 2025
1,504
Depreciation charged in the year
319
At 19 January 2026
1,823
Carrying amount
At 19 January 2026
2,025
At 19 January 2025
2,344
4
Investment property
2026
£
Fair value
At 20 January 2025 and 19 January 2026
10,395,000

The investment properties were valued in January 2023 by J&E Shepherd, for the properties held in Scotland, and Vail WIlliams for the properties held in England. The valuers are not connected to the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. In the directors' opinion, there has been no change in valuation since this date.

5
Fixed asset investments
2026
2025
£
£
Other investments other than loans
-
0
85,000
Movements in fixed asset investments
Investments
£
Cost or valuation
At 20 January 2025
85,000
Disposals
(85,000)
At 19 January 2026
-
Carrying amount
At 19 January 2026
-
At 19 January 2025
85,000
JOHN SMITH AND COMPANY (EDINBURGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 19 JANUARY 2026
- 7 -
6
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
62,456
6,872
Amounts owed by group undertakings
16,621
12,331
Other debtors
30,412
119,425
109,489
138,628
7
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
150,000
150,000
Trade creditors
770
13,422
Corporation tax
44,221
60,630
Other taxation and social security
20,558
18,084
Other creditors
117,819
122,131
333,368
364,267

Security for the loan facilities comprises legal securities on certain properties, heritable securities on certain properties and a floating charge over assets of the company.

8
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
4,575,944
4,725,944

Security for the loan facilities comprises legal securities on certain properties, heritable securities on certain properties and a floating charge over assets of the company.

9
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
48,529
48,529
48,529
48,529
Ordinary B shares of £1 each
15,000
15,000
15,000
15,000
63,529
63,529
63,529
63,529
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