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REGISTERED NUMBER: SC400614 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2023 TO 31 OCTOBER 2024

FOR

K M STEWART & CO FINANCIAL SERVICES LTD.
K M STEWART & COMPANY

K M STEWART & CO FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC400614)
K M STEWART & COMPANY






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 June 2023 to 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


K M STEWART & CO FINANCIAL SERVICES LTD.
K M STEWART & COMPANY

COMPANY INFORMATION
for the Period 1 June 2023 to 31 October 2024







DIRECTOR: Mr S Usher



REGISTERED OFFICE: 6 Miller Road
Ayr
KA7 2AY



REGISTERED NUMBER: SC400614 (Scotland)



ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY



BANKERS: The Royal Bank of Scotland
10 Gordon Street
Glasgow
G1 3PL

K M STEWART & CO FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC400614)
K M STEWART & COMPANY

STATEMENT OF FINANCIAL POSITION
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 24,306 26,007
Investments 6 - 255,332
24,306 281,339

CURRENT ASSETS
Debtors 7 107,917 154,852
Cash at bank and in hand 37,332 23,726
145,249 178,578
CREDITORS
Amounts falling due within one year 8 156,492 209,152
NET CURRENT LIABILITIES (11,243 ) (30,574 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,063

250,765

PROVISIONS FOR LIABILITIES 4,554 519
NET ASSETS 8,509 250,246

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 8,409 250,146
SHAREHOLDERS' FUNDS 8,509 250,246

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

K M STEWART & CO FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC400614)
K M STEWART & COMPANY

STATEMENT OF FINANCIAL POSITION - continued
31 October 2024


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 27 May 2025 and were signed by:





Mr S Usher - Director


K M STEWART & CO FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC400614)
K M STEWART & COMPANY

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 June 2023 to 31 October 2024

1. STATUTORY INFORMATION

K M Stewart & Co Financial Services Ltd. 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.

Functional currency
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates . It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below:

Estimation Uncertainty

Useful life of properties, plant and equipment
The Company assesses the useful life of its properties, plant and equipment and estimates the annual charge to be depreciated based on this.

Recoverability of Debtors
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.

Stock Valuation
The Company assesses the carrying value of stock on at least an annual basis, taking into consideration when each item was purchased and the Company's ability to sell that particular item. Where it is considered the net realisable value of stock has fallen below its' original cost, a provision is made by Management against the stock value in the financial statements.

Key Judgements made in the application of Accounting Policies
a) Exemptions taken in the application FRS 102
The Company has considered and taken advantage of the following exemptions in its first application of FRS 102:
i) The Company has not revisited previous accounting estimates.

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 2011, is being amortised evenly over its estimated useful life of five years.

K M STEWART & CO FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC400614)
K M STEWART & COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 June 2023 to 31 October 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - Straight line over 3 years

Financial instruments
Classification
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognises these in accordance with Section 11 of the Financial Reporting Standard.

Recognition and measurement
The company's debt instruments are measured at amortised cost using the effective interest rate method.

Impairment
Financial instruments are reviewed annually for impairment.

Debtors
Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
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. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 October 2024 120,000
AMORTISATION
At 1 June 2023
and 31 October 2024 120,000
NET BOOK VALUE
At 31 October 2024 -
At 31 May 2023 -

K M STEWART & CO FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC400614)
K M STEWART & COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 June 2023 to 31 October 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 30,977 46,334 21,069 98,380
Additions - - 336 336
At 31 October 2024 30,977 46,334 21,405 98,716
DEPRECIATION
At 1 June 2023 30,977 23,218 18,178 72,373
Charge for period - - 2,037 2,037
At 31 October 2024 30,977 23,218 20,215 74,410
NET BOOK VALUE
At 31 October 2024 - 23,116 1,190 24,306
At 31 May 2023 - 23,116 2,891 26,007

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023 255,332
Disposals (255,332 )
At 31 October 2024 -
NET BOOK VALUE
At 31 October 2024 -
At 31 May 2023 255,332

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 72,127 53,748
Other debtors 35,790 101,104
107,917 154,852

K M STEWART & CO FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC400614)
K M STEWART & COMPANY

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 June 2023 to 31 October 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 31,220 37,804
Hire purchase contracts 14,744 20,986
Trade creditors 7,599 4,923
Taxation and social security 91,090 106,593
Other creditors 11,839 38,846
156,492 209,152

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

10. RESERVES
Retained
earnings
£   

At 1 June 2023 250,146
Profit for the period 198,883
Purchase of own shares (440,620 )
At 31 October 2024 8,409