Craig Wood Solicitors Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: SC483355

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		26,987		65,067

			26,987		65,067
CURRENT ASSETS
Debtors	6	706,938		706,048
Cash at bank and in hand		745,220		846,018

		1,452,158		1,552,066
Creditors: Amounts Falling Due Within One Year	7	(571,555 )		(609,421 )

NET CURRENT ASSETS (LIABILITIES)			880,603		942,645

TOTAL ASSETS LESS CURRENT LIABILITIES			907,590		1,007,712

Creditors: Amounts Falling Due After More Than One Year	8		-		(20,653 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(5,819 )		(15,982 )

NET ASSETS			901,771		971,077

CAPITAL AND RESERVES
Called up share capital	10		401		401
Profit and Loss Account			901,370		970,676

SHAREHOLDERS' FUNDS			901,771		971,077

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Craig Wood Solicitors Ltd

Balance Sheet (continued)

As At 31 October 2025

For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr John MacColl

Director

19/12/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Craig Wood Solicitors Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC483355 . The registered office is 23 Academy Street, Inverness, IV1 1JN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% reducing balance
Plant & Machinery	20% reducing balance
Motor Vehicles	20% reducing balance
Fixtures & Fittings	20% reducing balance

2.5. Financial Instruments

The company only has basic financial instruments.

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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Craig Wood Solicitors Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

2.6. 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.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 13 (2024: 12)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 November 2024	6,000

As at 31 October 2025	6,000

Amortisation
As at 1 November 2024	6,000

As at 31 October 2025	6,000

Net Book Value
As at 31 October 2025	-

As at 1 November 2024	-

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Craig Wood Solicitors Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 November 2024	5,418	60,821	96,500	17,209	179,948
Additions	-	3,579	-	-	3,579
Disposals	-	-	(96,500 )	-	(96,500 )

As at 31 October 2025	5,418	64,400	-	17,209	87,027

Depreciation
As at 1 November 2024	2,835	37,705	60,537	13,804	114,881
Provided during the period	260	4,756	-	680	5,696
Disposals	-	-	(60,537 )	-	(60,537 )

As at 31 October 2025	3,095	42,461	-	14,484	60,040

Net Book Value
As at 31 October 2025	2,323	21,939	-	2,725	26,987

As at 1 November 2024	2,583	23,116	35,963	3,405	65,067

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	420,459	393,331
Prepayments and accrued income	151,679	165,377
Other debtors	1,500	1,500
Loan to Lawnmarket	133,300	133,300
Directors' loan accounts	-	12,540

	706,938	706,048

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	228,272	330,743
Bank loans and overdrafts	6,667	19,324
Corporation tax	186,678	142,871
Other taxes and social security	7,719	6,333
VAT	41,147	46,858
Other creditors	1,572	1,166
Accruals and deferred income	58,372	41,172
Directors' loan accounts	41,128	20,954

	571,555	609,421

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Craig Wood Solicitors Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	20,653

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Accelerated capital allowances	5,819	15,982

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	401	401

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Later than five years	224,000	256,000

	224,000	256,000

12. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 November 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 October 2025
	£	£	£	£	£
Mr John MacColl	12,540	-	12,540	-	-

13. Related Party Transactions

Craig Wood Solicitors Ltd & Lawnmarket Ltd are associated through virtue of common control.

At 31st October 2025 the amount owed by Lawnmarket Ltd to Craig Wood Solicitors Ltd was £133,300 (2024: £133,300). This balance is non-interest bearing and is repayable on demand.

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