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REGISTERED NUMBER: SO304040 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Messrs J & K Stewart LLP

Messrs J & K Stewart LLP (Registered number: SO304040)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Messrs J & K Stewart LLP

General Information
for the Year Ended 31 July 2024







DESIGNATED MEMBERS: K Stewart
Mrs I Tilekeeva





REGISTERED OFFICE: 145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SO304040 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Messrs J & K Stewart LLP (Registered number: SO304040)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 452,838 408,848
452,838 408,848

CURRENT ASSETS
Stocks 9,424 12,210
Debtors 6 2,709 8,784
Cash at bank and in hand 20,992 14,000
33,125 34,994
CREDITORS
Amounts falling due within one year 7 (13,520 ) (11,689 )
NET CURRENT ASSETS 19,605 23,305
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

472,443

432,153

LOANS AND OTHER DEBTS DUE TO
MEMBERS

472,443

432,153

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 472,443 432,153

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 July 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Messrs J & K Stewart LLP (Registered number: SO304040)

Balance Sheet - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 24 February 2025 and were signed by:





K Stewart - Designated member

Messrs J & K Stewart LLP (Registered number: SO304040)

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

1. STATUTORY INFORMATION

Messrs J & K Stewart LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. 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, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of one years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2023 - 4 ) .

Messrs J & K Stewart LLP (Registered number: SO304040)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 15,000
AMORTISATION
At 1 August 2023
and 31 July 2024 15,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 332,879 150,998 483,877
Additions - 45,341 45,341
At 31 July 2024 332,879 196,339 529,218
DEPRECIATION
At 1 August 2023 - 75,029 75,029
Charge for year - 1,351 1,351
At 31 July 2024 - 76,380 76,380
NET BOOK VALUE
At 31 July 2024 332,879 119,959 452,838
At 31 July 2023 332,879 75,969 408,848

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors 2,709 8,784

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 7,099 5,899
Other creditors 6,421 5,790
13,520 11,689