Stewart & Co LLP Accounts






Stewart & Co LLP

	Registered No. OC314047
	Information for Filing with the Registrar
		31 March 2025

at	31 March 2025

Registered No.			OC314047	Notes	2025	2024
					£	£
Fixed assets
	Intangible assets			5	75,000	82,500
	Tangible assets			6	114,107	150,082


					189,107	232,582
Current assets

	Debtors			7	281,084	287,645

	Cash at bank and in hand				1,059,068	912,773
					1,340,152	1,200,418
Creditors: Amounts falling due within one year				8	(119,377)	(127,284)
Net current assets					1,220,775	1,073,134
Total assets less current liabilities					1,409,882	1,305,716


Net assets attributable to members					1,409,882	1,305,716

Represented by:

	Members' other interests


		Other reserves			1,409,882	1,305,716
					1,409,882	1,305,716

					1,409,882	1,305,716



These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the members on 24 December 2025 and signed on its behalf by:
M.S. Ladha
Designated member
24 December 2025

for the year ended 31 March 2025

General information

Stewart & Co LLP is a limited liability partnership and incorporated in England and Wales.

Its registered number is: OC314047

Its registered office is:

Ebenezer House

5a Poole Road

Bournemouth

Dorset

BH2 5QJ

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Members' remuneration and division of profits

Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery

100% Straight line

Motor vehicles

25% Reducing balance

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Taxation

Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

Defined contribution pensions

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 LLP has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3	Information in relation to members
		2025	2024
		Number	Number
	The average number of members during the year :	3	3

4	Employees
		2025	2024
		Number	Number

	The average number of persons employed during the year was:	10	11

5	Intangible fixed assets
		Goodwill	Total
		£	£
	Cost
	At 1 April 2024	150,000	150,000


	At 31 March 2025	150,000	150,000
	Amortisation
	At 1 April 2024	67,500	67,500
	Charge for the year	7,500	7,500


	At 31 March 2025	75,000	75,000
	Net book values
	At 31 March 2025	75,000	75,000
	At 31 March 2024	82,500	82,500

	Goodwill

6	Tangible fixed assets
		Land and buildings	Plant and machinery	Total
		£	£	£
	Cost
	At 1 April 2024	6,181	376,766	382,947
	Additions	-	916	916



	At 31 March 2025	6,181	377,682	383,863
	Depreciation
	At 1 April 2024	-	232,865	232,865
	Charge for the year	-	36,891	36,891



	At 31 March 2025	-	269,756	269,756
	Net book values
	At 31 March 2025	6,181	107,926	114,107
	At 31 March 2024	6,181	143,901	150,082

7	Debtors
		2025	2024
		£	£
	Trade debtors	270,834	277,395



	Other debtors	10,250	10,250

		281,084	287,645

8	Creditors:
	amounts falling due within one year
		2025	2024
		£	£
	Bank loans and overdrafts	11,621	21,667


	Trade creditors	45,345	48,089

	Other taxes and social security	62,411	57,528


		119,377	127,284