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REGISTERED NUMBER: SC132949 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Lumsden Stuart Limited

Lumsden Stuart Limited (Registered number: SC132949)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lumsden Stuart Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: W.L. Stuart
Mrs L.J. Stuart





SECRETARY: Mrs L.J. Stuart





REGISTERED OFFICE: 145 St. Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC132949 (Scotland)





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

Lumsden Stuart Limited (Registered number: SC132949)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 22,624 33,935
Tangible assets 5 106,109 109,732
128,733 143,667

CURRENT ASSETS
Stocks 244,603 460,059
Debtors 6 77,534 68,089
Cash at bank 976,513 865,593
1,298,650 1,393,741
CREDITORS
Amounts falling due within one year 7 (387,253 ) (296,877 )
NET CURRENT ASSETS 911,397 1,096,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,040,130

1,240,531

PROVISIONS FOR LIABILITIES (1,900 ) (1,700 )
NET ASSETS 1,038,230 1,238,831

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 1,037,730 1,238,331
SHAREHOLDERS' FUNDS 1,038,230 1,238,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

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

Lumsden Stuart Limited (Registered number: SC132949)

Balance Sheet - continued
30 November 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2025 and were signed on its behalf by:





W.L. Stuart - Director


Lumsden Stuart Limited (Registered number: SC132949)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Lumsden Stuart 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.

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 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.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on cost and 10% on cost

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.

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.


Lumsden Stuart Limited (Registered number: SC132949)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2023
and 30 November 2024 56,557
AMORTISATION
At 1 December 2023 22,622
Charge for year 11,311
At 30 November 2024 33,933
NET BOOK VALUE
At 30 November 2024 22,624
At 30 November 2023 33,935

Lumsden Stuart Limited (Registered number: SC132949)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2023 209,884 246,343 456,227
Additions - 4,325 4,325
At 30 November 2024 209,884 250,668 460,552
DEPRECIATION
At 1 December 2023 110,383 236,112 346,495
Charge for year 4,197 3,751 7,948
At 30 November 2024 114,580 239,863 354,443
NET BOOK VALUE
At 30 November 2024 95,304 10,805 106,109
At 30 November 2023 99,501 10,231 109,732

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 72,286 62,841
Other debtors 5,248 5,248
77,534 68,089

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade creditors 274,696 182,084
Corporation tax (19,009 ) (19,009 )
VAT 12,397 45,385
Directors' current accounts 83,843 52,945
Accrued expenses 35,326 35,472
387,253 296,877