REGISTERED NUMBER: SC592666 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2026

for

Bracey's Accountants (Edinburgh) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

10,000

14,000

Tangible assets

5

9,488

9,649

19,488

23,649

CURRENT ASSETS

Debtors

6

84,415

66,718

Cash at bank

55,085

18,204

139,500

84,922

CREDITORS

Amounts falling due within one year

7

162,648

117,088

NET CURRENT LIABILITIES

(23,148

)

(32,166

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,660

)

(8,517

)

PROVISIONS FOR LIABILITIES

2,372

2,412

NET LIABILITIES

(6,032

)

(10,929

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(6,132

)

(11,029

)

(6,032

)

(10,929

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2026 and were signed on its behalf by:

P Bracey - Director

1.	STATUTORY INFORMATION

Bracey's Accountants (Edinburgh) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number:

SC592666

Registered office:

Ground Floor

112

George Street

Edinburgh

EH2 4LH

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net 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 held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

At the balance sheet date the company had net current liabilities of £23,148 (2025 - £32,166) and retained losses of £6,132 (2025 - £11,029). The directors have pledged to continue to financially support the company for the foreseeable future. On this basis the directors feel it is appropriate to prepare these financial statements using the going concern assumption.

Trade debtors

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

Trade debtors are recognised at the transaction price. Trade debtors are reviewed annually for bad debts. Any adjustment is made through the profit and loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2025 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2025

and 31 January 2026

40,000

AMORTISATION

At 1 February 2025

26,000

Charge for year

4,000

At 31 January 2026

30,000

NET BOOK VALUE

At 31 January 2026

10,000

At 31 January 2025

14,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2025

14,038

Additions

3,001

Disposals

(1,200

)

At 31 January 2026

15,839

DEPRECIATION

At 1 February 2025

4,389

Charge for year

2,521

Eliminated on disposal

(559

)

At 31 January 2026

6,351

NET BOOK VALUE

At 31 January 2026

9,488

At 31 January 2025

9,649

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

61,799

42,785

Amounts owed by group undertakings

765

136

Amounts recoverable on contract

5,980

6,049

Other debtors

15,871

17,748

84,415

66,718

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

6,333

8,336

Amounts owed to group undertakings

110,453

77,750

Taxation and social security

40,944

28,705

Other creditors

4,918

2,297

162,648

117,088

8.	FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENCIES

The total amount of financial commitments not included in the balance sheet is £32,117 (2025 - £51,221).

The company has a short term lease on the business premises. The total amount disclosed of £32,117 (2025 - £51,221) is the total amount due to the expiration of the lease in July 2027.

9.	RELATED PARTY TRANSACTIONS