Michael Stewart Limited

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

Registered number: 07687455

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		45,000		52,500
Tangible Assets	5		44,707		51,595

			89,707		104,095
CURRENT ASSETS
Stocks	6	213,340		279,850
Debtors	7	4,700		1,992
Cash at bank and in hand		717,640		551,968

		935,680		833,810
Creditors: Amounts Falling Due Within One Year	8	(359,543 )		(352,925 )

NET CURRENT ASSETS (LIABILITIES)			576,137		480,885

TOTAL ASSETS LESS CURRENT LIABILITIES			665,844		584,980

NET ASSETS			665,844		584,980

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			665,744		584,880

SHAREHOLDERS' FUNDS			665,844		584,980

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Michael Stewart Limited

Balance Sheet (continued)

As At 31 January 2026

For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

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

On behalf of the board

Mr Richard Blackburn

Director

20/07/2026

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

1. General Information

Michael Stewart Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07687455 . The registered office is 9 - 13 Brook Street, Selby, YO8 4AL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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 the profit and loss account over its estimated economic life of .... 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:

Leasehold	0%
Plant & Machinery	25% Reducing Balance Basis
Motor Vehicles	25% Reducing Balance Basis
Fixtures & Fittings	25% Reducing Balance
Computer Equipment	33% Straight Line

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. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Michael Stewart Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2025: 8)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 February 2025	150,000

As at 31 January 2026	150,000

Amortisation
As at 1 February 2025	97,500
Provided during the period	7,500

As at 31 January 2026	105,000

Net Book Value
As at 31 January 2026	45,000

As at 1 February 2025	52,500

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 February 2025	16,579	20,647	27,383	30,694	95,303
Additions	-	2,006	-	-	2,006

As at 31 January 2026	16,579	22,653	27,383	30,694	97,309

Depreciation
As at 1 February 2025	-	15,594	2,852	25,262	43,708
Provided during the period	-	1,403	6,133	1,358	8,894

As at 31 January 2026	-	16,997	8,985	26,620	52,602

Net Book Value
As at 31 January 2026	16,579	5,656	18,398	4,074	44,707

As at 1 February 2025	16,579	5,053	24,531	5,432	51,595

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Michael Stewart Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

6. Stocks

	2026	2025
	£	£
Stock	213,340	279,850

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	-	494
Other debtors	4,700	1,498

	4,700	1,992

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	238,443	209,406
Other creditors	87,192	85,050
Taxation and social security	33,908	58,469

	359,543	352,925

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

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