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REGISTERED NUMBER: SC351883 (Scotland)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

STEWART FINANCIAL MANAGEMENT LIMITED

STEWART FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: SC351883)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STEWART FINANCIAL MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: H J Thomson
G Stewart





SECRETARY: Ms J P Louden





REGISTERED OFFICE: 2 Woodside Place
Glasgow
G3 7QF





REGISTERED NUMBER: SC351883 (Scotland)





ACCOUNTANTS: Robert J Hart & Company
Chartered Accountants
Arran House
15D Skye Road
Prestwick
Ayrshire
KA9 2TA

STEWART FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: SC351883)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,872 36,214
Investments 5 4,374 4,374
31,246 40,588

CURRENT ASSETS
Debtors 6 29,233 47,616
Cash at bank 32,379 2,629
61,612 50,245
CREDITORS
Amounts falling due within one year 7 36,926 24,980
NET CURRENT ASSETS 24,686 25,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,932

65,853

CREDITORS
Amounts falling due after more than one
year

8

(48,950

)

(58,523

)

PROVISIONS FOR LIABILITIES (6,718 ) (6,881 )
NET ASSETS 264 449

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 164 349
264 449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

STEWART FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: SC351883)

BALANCE SHEET - continued
30 NOVEMBER 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 Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





H J Thomson - Director


STEWART FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: SC351883)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Stewart Financial Management 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

STEWART FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: SC351883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 19,264 39,995 59,259
DEPRECIATION
At 1 December 2022 18,879 4,166 23,045
Charge for year 385 8,957 9,342
At 30 November 2023 19,264 13,123 32,387
NET BOOK VALUE
At 30 November 2023 - 26,872 26,872
At 30 November 2022 385 35,829 36,214

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 39,995
DEPRECIATION
At 1 December 2022 4,166
Charge for year 8,957
At 30 November 2023 13,123
NET BOOK VALUE
At 30 November 2023 26,872
At 30 November 2022 35,829

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022
and 30 November 2023 4,374
NET BOOK VALUE
At 30 November 2023 4,374
At 30 November 2022 4,374

STEWART FINANCIAL MANAGEMENT LIMITED (REGISTERED NUMBER: SC351883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 6,957 2,331
Other debtors 22,276 45,285
29,233 47,616

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 6,443 5,284
Taxation and social security 16,439 7,864
Other creditors 4,044 1,832
36,926 24,980

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 22,703 25,833
Hire purchase contracts 26,247 32,690
48,950 58,523

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Hire purchase contracts 32,690 37,974

Hire purchase creditors are secured under the specific assets financed.

10. FINANCIAL COMMITMENTS

The total amount of financial commitments in respect of non cancellable operating leases is nil (2022- 2,371).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Loan advances of £17,891 (2022-£40,589 ) were made to directors during the year. Repayments during the year were £40,589 (2022-£43,513). Loan balances of £17,891 (2022-£40,589) were outstanding at the year end. Interest has been charged at an average rate of 2.13%p.a. on the monthly outstanding balance.