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REGISTERED NUMBER: SC477371 (Scotland)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE PERIOD |

| 1 APRIL 2024 TO 30 SEPTEMBER 2025 |

| FOR |

| STEWARTS PIPING LIMITED |

STEWARTS PIPING LIMITED (REGISTERED NUMBER: SC477371)

CONTENTS OF THE FINANCIAL STATEMENTS

for the period 1 April 2024 to 30 September 2025

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |

STEWARTS PIPING LIMITED

COMPANY INFORMATION

for the period 1 April 2024 to 30 September 2025

| DIRECTORS: | I Stewart

| E Stewart

| REGISTERED OFFICE: | 47 Victoria Street

| Dunfermline

| Fife

| KY12 0LP

| REGISTERED NUMBER: | SC477371 (Scotland)

| ACCOUNTANTS: | S&W Partners (Scotland) Limited

| Q Court

| 3 Quality Street

| Edinburgh

| EH4 5BP

STEWARTS PIPING LIMITED (REGISTERED NUMBER: SC477371)

STATEMENT OF FINANCIAL POSITION

30 September 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 5 | 9,453 |  | 6,623 |  |

Cash at bank | 91,410 |  | 77,893 |  |

100,863 |  | 84,516 |  |

CREDITORS

Amounts falling due within one year | 6 | (49,695 | ) | (49,326 | ) |

NET CURRENT ASSETS | 51,168 |  | 35,190 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 51,168 |  | 35,190 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 51,068 |  | 35,090 |  |

51,168 |  | 35,190 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2025 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2026 and were signed on its behalf by:

I Stewart - Director

STEWARTS PIPING LIMITED (REGISTERED NUMBER: SC477371)

NOTES TO THE FINANCIAL STATEMENTS

for the period 1 April 2024 to 30 September 2025

1. | STATUTORY INFORMATION

| Stewarts Piping 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 represents the value of work done from the provision of engineering services, excluding value added tax.

| TANGIBLE FIXED ASSETS

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Computer equipment | - | 33% per annum on cost

| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

| IMPAIRMENT OF ASSETS

| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

| If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

STEWARTS PIPING LIMITED (REGISTERED NUMBER: SC477371)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the period 1 April 2024 to 30 September 2025

2. | ACCOUNTING POLICIES - continued

| 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 non-puttable ordinary shares.

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| TAXATION

| Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

| DEFERRED TAX

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 2 (2024 - 2 ) .

STEWARTS PIPING LIMITED (REGISTERED NUMBER: SC477371)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the period 1 April 2024 to 30 September 2025

4. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| COST

| At 1 April 2024

| and 30 September 2025 | 1,118 |  |

| DEPRECIATION

| At 1 April 2024

| and 30 September 2025 | 1,118 |  |

| NET BOOK VALUE

| At 30 September 2025 | - |  |

| At 31 March 2024 | - |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | - |  | 6,560 |  |

| Other debtors | 9,453 |  | 63 |  |

9,453 |  | 6,623 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 1,658 |  | 258 |  |

| Taxation and social security | 7,361 |  | 8,860 |  |

| Other creditors | 40,676 |  | 40,208 |  |

49,695 |  | 49,326 |  |

7. | RELATED PARTY DISCLOSURES

| Included in 'Other creditors' is an amount of £38,156 (2024 - £37,688) due by the company to the directors. These loans are interest free and repayable on demand.