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Company registration number:
SC378471
Stewart Cameron Ltd
Unaudited Filleted Financial Statements for the year ended
31 May 2024
Horizon Chartered Accountants
20-23 Woodside Place, Glasgow, G3 7QL, United Kingdom
Stewart Cameron Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Stewart Cameron Ltd
Year ended
31 May 2024
As described on the statement of financial position, the Board of Directors of
Stewart Cameron Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 May 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Horizon Chartered Accountants
20-23 Woodside Place
Glasgow
G3 7QL
United Kingdom
Date:
11 January 2025
Stewart Cameron Ltd
Statement of Financial Position
31 May 2024
20242023
Note££
Fixed assets    
Tangible assets 5
150,000
 
150,000
 
Current assets    
Debtors 6
22,452
 
4,236
 
Cash at bank and in hand
68,052
 
69,265
 
90,504
 
73,501
 
Creditors: amounts falling due within one year 7
(29,378
)
(52,946
)
Net current assets
61,126
 
20,555
 
Total assets less current liabilities 211,126   170,555  
Capital and reserves    
Called up share capital
103
 
103
 
Profit and loss account
211,023
 
170,452
 
Shareholders funds
211,126
 
170,555
 
For the year ending
31 May 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
11 January 2025
, and are signed on behalf of the board by:
Stewart Cameron
Director
Company registration number:
SC378471
Stewart Cameron Ltd
Notes to the Financial Statements
Year ended
31 May 2024

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
c/o Horizon CA
,
20-23 Woodside Place
,
Glasgow
,
G3 7QL
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% straight line

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 June 2023
and
31 May 2024
150,000
 
3,021
 
153,021
 
Depreciation      
At
1 June 2023
and
31 May 2024
-  
3,021
 
3,021
 
Carrying amount      
At
31 May 2024
150,000
  -  
150,000
 
At 31 May 2023
150,000
  -  
150,000
 

6 Debtors

20242023
££
Trade debtors
21,452
 
3,236
 
Other debtors
1,000
 
1,000
 
22,452
 
4,236
 

7 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
14,089
 
9,045
 
Other creditors
15,289
 
43,901
 
29,378
 
52,946