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REGISTERED NUMBER: SC159560 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Stewarts Building Services Limited

Stewarts Building Services Limited (Registered number: SC159560)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Stewarts Building Services Limited (Registered number: SC159560)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 367,330 460,441
Investments 5 12,800 12,800
380,130 473,241

CURRENT ASSETS
Stocks 603,277 639,097
Debtors 6 1,581,068 1,470,033
Investments 7 2,795,257 686,274
Cash at bank and in hand 345,176 2,311,683
5,324,778 5,107,087
CREDITORS
Amounts falling due within one year 8 (368,725 ) (490,902 )
NET CURRENT ASSETS 4,956,053 4,616,185
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,336,183

5,089,426

PROVISIONS FOR LIABILITIES (82,487 ) (102,283 )
NET ASSETS 5,253,696 4,987,143

CAPITAL AND RESERVES
Called up share capital 363,002 363,002
Retained earnings 4,890,694 4,624,141
5,253,696 4,987,143

Stewarts Building Services Limited (Registered number: SC159560)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 12 November 2024 and were signed on its behalf by:





Mr P S Miller - Director


Stewarts Building Services Limited (Registered number: SC159560)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Stewarts Building Services Limited is a private company, limited by shares, domiciled in Scotland, registration number SC159560. The registered office is 5 Campsie Road, Kirkintilloch, Glasgow, G66 1SH.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods and services in respect of trading as a builders merchant, excluding value added tax. Turnover is recognised at the point of sale.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on cost and not provided
Short leasehold - 12.5% on cost
Commercial vehicles - at varying rates on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value with the exception of commercial vehicles which are expected to retain a 15% residual value after seven years.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


Stewarts Building Services Limited (Registered number: SC159560)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Freehold Short Commercial Plant and
property leasehold vehicles machinery
£    £    £    £   
COST
At 1 April 2023 110,594 21,595 360,511 327,707
Additions - - - 66,050
Disposals - - (47,007 ) (35,250 )
At 31 March 2024 110,594 21,595 313,504 358,507
DEPRECIATION
At 1 April 2023 95,594 21,595 155,325 174,835
Charge for year - - 37,886 61,479
Eliminated on disposal - - (11,416 ) (24,000 )
At 31 March 2024 95,594 21,595 181,795 212,314
NET BOOK VALUE
At 31 March 2024 15,000 - 131,709 146,193
At 31 March 2023 15,000 - 205,186 152,872

Stewarts Building Services Limited (Registered number: SC159560)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 30,585 107,690 29,512 988,194
Additions - 62,148 15,846 144,044
Disposals - (49,995 ) (1,855 ) (134,107 )
At 31 March 2024 30,585 119,843 43,503 998,131
DEPRECIATION
At 1 April 2023 25,677 32,756 21,971 527,753
Charge for year 1,793 29,961 9,200 140,319
Eliminated on disposal - - (1,855 ) (37,271 )
At 31 March 2024 27,470 62,717 29,316 630,801
NET BOOK VALUE
At 31 March 2024 3,115 57,126 14,187 367,330
At 31 March 2023 4,908 74,934 7,541 460,441

Included in cost of freehold property is freehold land of £15,000 (2023 - £15,000) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 14,050
PROVISIONS
At 1 April 2023
and 31 March 2024 1,250
NET BOOK VALUE
At 31 March 2024 12,800
At 31 March 2023 12,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 942,236 1,032,216
Other debtors 638,832 437,817
1,581,068 1,470,033

Stewarts Building Services Limited (Registered number: SC159560)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Listed investments 2,795,257 686,274

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 246,021 309,399
Taxation and social security 42,988 129,886
Other creditors 79,716 51,617
368,725 490,902

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr J F Stewart
Balance outstanding at start of year 251,115 253,129
Amounts repaid (1,447 ) (2,014 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 249,668 251,115

The maximum balance outstanding during the year was £251,115 (2023: £253,129). The above loan is interest free and has no fixed repayment date,

10. RELATED PARTY DISCLOSURES

During the year an administration charge of £7,815 (2023: £27,750) was paid to Dan Ramsay & Son Limited, a company in which Mr D F Stewart, a director of the parent company is also a director.

11. ULTIMATE PARENT COMPANY

The ultimate parent company is Webster Building Supplies Limited, a company incorporated in Scotland having its registered office at 5 Campsie Road, Kirkintilloch, G66 1SL.