ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 05319423

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	DOUGLAS STEWART EDU LIMITED


DOUGLAS STEWART EDU LIMITED

COMPANY INFORMATION

Director	Mr P W Collins


Registered number	05319423


Registered office	Victoria House
	50-58 Victoria Road
	Farnborough
	Hampshire
	GU14 7PG


Trading Address	Unit B4 Mountbatten Business Park
	Jackson Close
	Portsmouth
	England
	PO6 1US



Accountants	Menzies LLP
	Chartered Accountants
	Victoria House
	50-58 Victoria Road
	Farnborough
	Hampshire
	GU14 7PG


DOUGLAS STEWART EDU LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 7


DOUGLAS STEWART EDU LIMITED REGISTERED NUMBER:05319423

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		As reclassified
	2024	2023
Note	£	£

Fixed assets
Intangible assets	4		-		17,601
Tangible assets	5		3,366		11,407
			3,366		29,008
Current assets
Stocks		503,933		499,934
Debtors: amounts falling due within one year	6	580,130		455,654
Cash at bank and in hand		127,680		169,750
		1,211,743		1,125,338
Creditors: amounts falling due within one year	7	(925,714)		(593,707)
Net current assets			286,029		531,631
Total assets less current liabilities			289,395		560,639
Creditors: amounts falling due after more than one year	8		(14,167)		(24,167)

Net assets			275,228		536,472

Capital and reserves
Called up share capital	2,000,000	2,000,000
Other reserves	1,394,619	1,394,619
Profit and loss account	(3,119,391)	(2,858,147)
	275,228	536,472

Page 1


DOUGLAS STEWART EDU LIMITED REGISTERED NUMBER:05319423

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Mr P W Collins

Director

Date: 9 September 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2


DOUGLAS STEWART EDU LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Douglas Stewart EDU Limited is a private company limited by shares, incorporated and registered in England and Wales. The address of its registered office and principal place of business are disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


DOUGLAS STEWART EDU LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Development expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Intangible assets are amortised on a sttraight-line basis over their useful lives.

The estimated useful lives range as follows:

Website development

years straight line

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	3 years straight line
				Computer hardware	-	3 to 5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4


DOUGLAS STEWART EDU LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 15).

4.	Intangible assets

		Website development
		£
	Cost
	At 1 January 2024	93,653
	At 31 December 2024	93,653
	Amortisation
	At 1 January 2024	76,052
	Charge for the year	17,601
	At 31 December 2024	93,653
	Net book value
	At 31 December 2024	-
	At 31 December 2023	17,601

Page 5


DOUGLAS STEWART EDU LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Tangible fixed assets

	Fixtures and fittings	Computer hardware	Total
	£	£	£
Cost or valuation
At 1 January 2024	74,445	15,885	90,330
Additions	-	828	828
At 31 December 2024	74,445	16,713	91,158
Depreciation
At 1 January 2024	65,641	13,282	78,923
Charge for the year	6,783	2,086	8,869
At 31 December 2024	72,424	15,368	87,792
Net book value
At 31 December 2024	2,021	1,345	3,366
At 31 December 2023	8,804	2,603	11,407

Debtors

						As reclassified
					2024	2023
					£	£


Trade debtors	479,352	333,861
Other debtors	68,935	61,713
Prepayments and accrued income	31,843	60,080
	580,130	455,654

Page 6


DOUGLAS STEWART EDU LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	10,000	10,000
Trade creditors	762,410	530,972
Amounts owed to group undertakings	51,937	-
Other taxation and social security	55,808	19,466
Other creditors	7,443	9,520
Accruals and deferred income	38,116	23,749
	925,714	593,707

8.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

	Bank loans	14,167	24,167

Bank loans are secured by the UK government as part of the bounce back loan scheme. The loan was interest free for the first year.

9.	Prior year reclassification

During the year, it was concluded that a balance included within cash at bank was to be reclassified to other debtors in order to provide a true and fair view of the nature of the balance.
There is no profit or tax impact as a result of the above reclassifications.

Not later than 1 year	50,738	50,738
Later than 1 year and not later than 5 years	10,242	60,980
	60,980	111,718

11.	Parent company

The smallest group of undertakings for which group accounts have been drawn up is that headed by Douglas Stewart Holdings LLC. Copies of these accounts may be obtained from PO Box 6733, Madison, Winsconsin, USA 53716.

Page 7