REGISTERED NUMBER: SC221526 (Scotland)

Unaudited Financial Statements for the Year Ended 30 September 2025

for

Patience & Highmore Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

G C Bruce

K Cameron

D G Marshall

REGISTERED OFFICE:

The Quadrant

17 Bernard Street

Edinburgh

EH6 6PW

REGISTERED NUMBER:

SC221526 (Scotland)

ACCOUNTANTS:

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

CURRENT ASSETS

Work in progress

27,800

26,900

Debtors

7

36,739

24,279

Cash at bank and in hand

30,803

33,065

95,342

84,244

CREDITORS

Amounts falling due within one year

8

45,903

37,014

NET CURRENT ASSETS

49,439

47,230

TOTAL ASSETS LESS CURRENT LIABILITIES

49,439

47,230

CREDITORS

Amounts falling due after more than one year

9

5,260

15,513

NET ASSETS

44,179

31,717

CAPITAL AND RESERVES

Called up share capital

405

405

Capital redemption reserve

195

195

Retained earnings

43,579

31,117

SHAREHOLDERS' FUNDS

44,179

31,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 3 August 2026 and were signed on its behalf by:

K Cameron - Director

D G Marshall - Director

1.	STATUTORY INFORMATION

Patience & Highmore Limited 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.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is derived from revenue earned under a wide variety of contracts to provide professional architectural services.

Turnover is measured at the fair value of professional services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration. Turnover is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty years.

During 2011 the directors carried out an impairment review and were of the opinion that the value of goodwill was nil. This was based on the current economic trading environment at the time. If there was a marked improvement on trading in the future the directors may consider a review and write back the balance.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. 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.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Stocks and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

Work in Progress is valued as the net sales value of the work done after provision for the contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2024

and 30 September 2025

214,251

AMORTISATION

At 1 October 2024

and 30 September 2025

214,251

NET BOOK VALUE

At 30 September 2025

-

At 30 September 2024

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2024

and 30 September 2025

22,141

DEPRECIATION

At 1 October 2024

and 30 September 2025

22,141

NET BOOK VALUE

At 30 September 2025

-

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

19,274

9,402

Other debtors

17,465

14,877

36,739

24,279

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

9,736

9,483

Trade creditors

698

57

Taxation and social security

22,626

19,744

Other creditors

12,843

7,730

45,903

37,014

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

5,260

15,513

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

14,996

24,996

The bank loan is supported by a 100% guarantee from the UK Government.

11.	RELATED PARTY DISCLOSURES

The company has a loan account with each of the directors. The loans have no fixed repayment terms and no interest is charged. The amounts due to each director at the balance sheet date are as follows:

2025

2024

£

£

G C Bruce

-

2,883

K Cameron

4,315

90

D G Marshall

4,901

676

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Patience & Highmore Limited for the year ended 30 September 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Patience & Highmore Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Patience & Highmore Limited and state those matters that we have agreed to state to the Board of Directors of Patience & Highmore Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Patience & Highmore Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Patience & Highmore Limited. You consider that Patience & Highmore 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 financial statements of Patience & Highmore 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 financial statements.

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

3 August 2026