Company Registration No. SC520351
A A STEWART LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
PAGES FOR FILING WITH REGISTRAR
A A STEWART LTD
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
A A STEWART LTD
BALANCE SHEET
AS AT
31 OCTOBER 2025
31 October 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
296,124
261,233
Current assets
Debtors
4
26,352
17,992
Cash at bank and in hand
59,432
37,460
85,784
55,452
Creditors: amounts falling due within one year
5
(178,927)
(126,052)
Net current liabilities
(93,143)
(70,600)
Total assets less current liabilities
202,981
190,633
Creditors: amounts falling due after more than one year
6
(65,931)
(32,213)
Provisions for liabilities
7
(64,190)
(64,117)
Net assets
72,860
94,303
Capital and reserves
Allotted, called up and fully paid share capital
100
100
Distributable profit and loss reserves
72,760
94,203
Total equity
72,860
94,303

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

A A STEWART LTD
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2025
31 October 2025
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 17 July 2026
Mr A A Stewart
Director
Company Registration No. SC520351
A A STEWART LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 3 -
1
Accounting policies
Company information

A A Stewart Ltd is a private company limited by shares incorporated in Scotland. The registered office is Appin, Balnabeen, Conon Bridge, Dingwall, IV7 8AU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the balance sheet date, the company had net current liabilities of £93,143 (202 4 - £70,600). However, the director has agreed to subordinate his loan in favour of the other creditors and in addition he has confirmed that he will ensure that adequate funds will be made available to meet third party liabilities as they fall due. On this basis, it is considered appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

Turnover represents the net invoiced fees under contracts for the provision of plant hire and groundworks and is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% on reducing balance
Computers
3 years straight line
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

A A STEWART LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies (Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

A A STEWART LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies (Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

A A STEWART LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies (Continued)
- 6 -
1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets in the balance sheet. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
5
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2024
374,049
2,109
110,096
486,254
Additions
101,150
675
-
0
101,825
Disposals
(10,000)
-
0
(5,400)
(15,400)
At 31 October 2025
465,199
2,784
104,696
572,679
Depreciation and impairment
At 1 November 2024
167,579
1,852
55,590
225,021
Depreciation charged in the year
45,060
482
13,446
58,988
Eliminated in respect of disposals
(2,775)
-
0
(4,679)
(7,454)
At 31 October 2025
209,864
2,334
64,357
276,555
Carrying amount
At 31 October 2025
255,335
450
40,339
296,124
At 31 October 2024
206,470
257
54,506
261,233
A A STEWART LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 7 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
20,907
9,352
Other debtors
5,445
8,640
26,352
17,992
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
6,070
9,997
Taxation and social security
6,486
1,919
Other creditors
166,371
114,136
178,927
126,052

Other creditors includes hire purchase creditors £36,350 (202 4 - £26,805) which are secured over assets to which they relate.

6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
-
0
6,295
Obligations under finance leases
65,931
25,918
65,931
32,213

Finance lease obligations are in respect of hire purchase creditors and are secured over the assets to which they relate.

A A STEWART LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 8 -
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
74,031
65,308
Tax losses
(9,841)
(1,191)
64,190
64,117
2025
Movements in the year:
£
Liability at 1 November 2024
64,117
Charge to profit or loss
73
Liability at 31 October 2025
64,190
8
Related party transactions

Included in other creditors at the balance sheet date is an amount owed to the director of £93,422 (202 4 - £82,902). This loan is unsecured, interest free and has no fixed terms of repayment.

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