Company registration number SC585359 (Scotland)
HENDERSON STONE ASSET MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
HENDERSON STONE ASSET MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
HENDERSON STONE ASSET MANAGEMENT LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
130,373
162,106
Current assets
Debtors falling due after more than one year
4
53,134
-
0
Debtors falling due within one year
4
455,455
-
0
508,589
-
0
Creditors: amounts falling due within one year
5
(135,341)
(50,572)
Net current assets/(liabilities)
373,248
(50,572)
Total assets less current liabilities
503,621
111,534
Creditors: amounts falling due after more than one year
6
(18,000)
-
0
Net assets
485,621
111,534
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
485,620
111,533
Total equity
485,621
111,534
HENDERSON STONE ASSET MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2025
30 September 2025
- 2 -

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the board of directors and authorised for issue on 30 June 2026 and are signed on its behalf by:
Mr S E J Henderson
Director
Company registration number SC585359 (Scotland)
HENDERSON STONE ASSET MANAGEMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2024
1
116,499
116,500
Period ended 30 September 2024:
Loss for the period
-
(4,966)
(4,966)
Balance at 30 September 2024
1
111,533
111,534
Year ended 30 September 2025:
Profit for the year
-
374,087
374,087
Balance at 30 September 2025
1
485,620
485,621
HENDERSON STONE ASSET MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 4 -
1
Accounting policies
Company information

Henderson Stone Asset Management Limited is a private company limited by shares incorporated in Scotland. The registered office is Suite 16, Firhill Business Centre, 74 Firhill Road, Glasgow, G20 7BA.

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
Business combinations

The cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date.

Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date.

1.3
Reporting period

The financial statements for the previous period were prepared from 01 January 2024 to 30 September 2024 which is less than 12 months. As a result of this, the comparative amounts presented in the financial statements (including related notes) are not entirely comparable.

1.4
Turnover

The revenue shown in the income statement represents the value of all commissions and fees earned on the provision of financial advisory services during the year.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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.

HENDERSON STONE ASSET MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors, loans due from related parties 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.

Basic financial liabilities

Basic financial liabilities, including creditors, 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.

1.7
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.

1.8
Taxation

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

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.

1.9
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.

1.10
Retirement benefits

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

HENDERSON STONE ASSET MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 6 -
2
Employees

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

2025
2024
Number
Number
Total
7
11
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2024 and 30 September 2025
317,325
Amortisation and impairment
At 1 October 2024
155,219
Amortisation charged for the year
31,733
At 30 September 2025
186,952
Carrying amount
At 30 September 2025
130,373
At 30 September 2024
162,106

Goodwill of £187,325 arose on the acquisition of 100% of the ordinary share capital of RJM Financial Solutions Limited on 24 April 2019. The fair value of the assets and liabilities acquired was £nil. The company also purchased the customer database from A Strawhorn for £40,000. Goodwill is amortised in accordance with the company's stated accounting policy.

Goodwill arose on the acquisition of customer lists of Whitelaw Wells Financial Planning Limited on 2 6 April 20 21 for a consideration for £9 0,000. Goodwill is amortised in accordance with the company's stated accounting policy.

4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
455,455
-
0
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
53,134
-
0
Total debtors
508,589
-
HENDERSON STONE ASSET MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings
-
0
35,572
Corporation tax
135,341
-
0
Other creditors
-
0
15,000
135,341
50,572
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
18,000
-
0
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
8
Related party transactions

At the balance sheet date, the company was owed £455,455 (2024: £35,572 owed to) by Henderson Stone & Co Limited, a related party by virtue of common directors.

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