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REGISTERED NUMBER: SC563519 (Scotland)















Stewart Mortgage Services Limited

Financial Statements For The Year Ended 31 March 2023






Stewart Mortgage Services Limited (Registered number: SC563519)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stewart Mortgage Services Limited

Company Information
For The Year Ended 31 March 2023







DIRECTOR: Mrs M Stewart





REGISTERED OFFICE: 9 Kingsmills Road
Inverness
Highland
IV2 3JT





REGISTERED NUMBER: SC563519 (Scotland)





ACCOUNTANTS: The Long Partnership
1st Floor
Robertson House
Shore Street
Inverness
Highland
IV1 1NF

Stewart Mortgage Services Limited (Registered number: SC563519)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26 456

CURRENT ASSETS
Debtors 5 40,617 40,712

CREDITORS
Amounts falling due within one year 6 31,266 28,208
NET CURRENT ASSETS 9,351 12,504
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,377

12,960

CREDITORS
Amounts falling due after more than one
year

7

(5,289

)

(6,597

)

PROVISIONS FOR LIABILITIES - (87 )
NET ASSETS 4,088 6,276

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 4,087 6,275
4,088 6,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Stewart Mortgage Services Limited (Registered number: SC563519)

Balance Sheet - continued
31 March 2023


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 director and authorised for issue on 13 March 2024 and were signed by:





Mrs M Stewart - Director


Stewart Mortgage Services Limited (Registered number: SC563519)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Stewart Mortgage Services 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.

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.

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

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Equipment 25% on cost
Computer equipment 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Stewart Mortgage Services Limited (Registered number: SC563519)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 April 2022
and 31 March 2023 2,290
DEPRECIATION
At 1 April 2022 1,834
Charge for year 462
Eliminated on disposal (32 )
At 31 March 2023 2,264
NET BOOK VALUE
At 31 March 2023 26
At 31 March 2022 456

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 40,617 40,712

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 2,647 3,089
Trade creditors 8,768 7,037
Taxation and social security 15,769 13,916
Other creditors 4,082 4,166
31,266 28,208

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 5,289 6,597

Stewart Mortgage Services Limited (Registered number: SC563519)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to Mrs M Stewart a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mrs M Stewart
Balance outstanding at start of year (31,004 ) (25,683 )
Amounts advanced (16,493 ) (17,829 )
Amounts repaid 11,988 12,508
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (35,509 ) (31,004 )