Cartmill Stewart LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: NC001219

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		-		5,791
Tangible Assets	5		46,560		58,199

			46,560		63,990
CURRENT ASSETS
Stocks	6	(100,000 )		(90,000 )
Debtors	7	114,396		99,169
Cash at bank and in hand		66,800		75,885

		81,196		85,054
Creditors: Amounts Falling Due Within One Year	8	(85,151 )		(73,399 )

NET CURRENT ASSETS (LIABILITIES)			(3,955 )		11,655

TOTAL ASSETS LESS CURRENT LIABILITIES			42,605		75,645

Creditors: Amounts Falling Due After More Than One Year	9		(33,759 )		(43,307 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			8,846		32,338

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		8,846		32,338

			8,846		32,338

			8,846		32,338

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			8,846		32,338

			8,846		32,338

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Cartmill Stewart LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 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 applicable to LLPs subject to the small LLPs regime.)

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

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

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Gilbert Cartmill Designated Member	Mrs Claire Stewart Designated Member
30th December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Cartmill Stewart LLP Registered number NC001219 is a limited liability partnership incorporated in Northern Ireland. The Registered Office is 48 Bachelors Walk, Lisburn, BT28 1XN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	20% Reducing Balance
Fixtures & Fittings	20% Reducing Balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees during the year, including members, during the year was as follows: 2 (2024: 2)

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Cartmill Stewart LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	115,500

As at 31 March 2025	115,500

Amortisation
As at 1 April 2024	109,709
Provided during the period	5,791

As at 31 March 2025	115,500

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	5,791

5. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 April 2024	78,214

As at 31 March 2025	78,214

Depreciation
As at 1 April 2024	20,015
Provided during the period	11,639

As at 31 March 2025	31,654

Net Book Value
As at 31 March 2025	46,560

As at 1 April 2024	58,199

6. Stocks

	2025	2024
	£	£
Work in progress	(100,000 )	(90,000 )

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	14,396	(831 )
Due after more than one year
Other debtors	100,000	100,000

	114,396	99,169

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Cartmill Stewart LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	36,933	13,433
Bank loans and overdrafts	14,417	15,095
Other taxes and social security	-	105
VAT	17,150	11,067
Other creditors	4,113	1,922
Accruals and deferred income	12,538	31,777

	85,151	73,399

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	33,759	43,307

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