REGISTERED NUMBER: SC192280 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Stewart Technology Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J S Robertson

S M G Robertson

S W Brennand

S J G Robertson

REGISTERED OFFICE:

Tweedside Park

Galashiels

Borders

TD1 3TE

REGISTERED NUMBER:

SC192280 (Scotland)

ACCOUNTANT:

Gall Robertson CA

Tweedside Park

Tweedbank

Galashiels

Selkirkshire

TD1 3TE

FIXED ASSETS

Tangible assets

4

1,252,859

1,199,801

CURRENT ASSETS

Stocks

5

1,924,788

1,833,637

Debtors

6

1,087,205

1,269,489

Cash at bank

744,239

186,121

3,756,232

3,289,247

CREDITORS

Amounts falling due within one year

7

2,495,687

2,169,241

NET CURRENT ASSETS

1,260,545

1,120,006

TOTAL ASSETS LESS CURRENT LIABILITIES

2,513,404

2,319,807

CREDITORS

Amounts falling due after more than one year

8

(274,650

)

(326,921

)

PROVISIONS FOR LIABILITIES

(131,815

)

(111,522

)

NET ASSETS

2,106,939

1,881,364

CAPITAL AND RESERVES

Called up share capital

25,910

25,910

Retained earnings

2,081,029

1,855,454

SHAREHOLDERS' FUNDS

2,106,939

1,881,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2026 and were signed on its behalf by:

J S Robertson - Director

S J G Robertson - Director

1.	STATUTORY INFORMATION

Stewart Technology Ltd. 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.

Going Concern

The directors have assessed a period of 12 months from the date of approval of the financial statements and consider that no material uncertainties exist that cast significant doubt about the ability of the company to continue as a going concern. Thus the directors adopt the going concern basis of accounting in preparing the financial statements.

Revenue

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

25% on cost, 15% on cost and 15% on reducing balance

Office equipment

-

33% on cost, 25% on cost and 20% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

20% on cost and 20% on reducing balance

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2024 - 57 ) .

4.	TANGIBLE FIXED ASSETS

Assets

Freehold

under

Plant and

Office

property

construction

machinery

equipment

£

£

£

£

COST

At 1 January 2025

416,982

306,398

1,331,773

64,268

Additions

-

960

157,664

6,631

Transfer to ownership

-

-

75,449

-

At 31 December 2025

416,982

307,358

1,564,886

70,899

DEPRECIATION

At 1 January 2025

170,962

-

758,294

54,325

Charge for year

8,340

-

88,493

2,372

Transfer to ownership

-

-

75,449

-

At 31 December 2025

179,302

-

922,236

56,697

NET BOOK VALUE

At 31 December 2025

237,680

307,358

642,650

14,202

At 31 December 2024

246,020

306,398

573,479

9,943

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2025

96,135

110,130

(21,072

)

2,304,614

Additions

-

-

-

165,255

Transfer to ownership

-

-

-

75,449

At 31 December 2025

96,135

110,130

(21,072

)

2,545,318

DEPRECIATION

At 1 January 2025

88,672

53,632

(21,072

)

1,104,813

Charge for year

1,693

11,299

-

112,197

Transfer to ownership

-

-

-

75,449

At 31 December 2025

90,365

64,931

(21,072

)

1,292,459

NET BOOK VALUE

At 31 December 2025

5,770

45,199

-

1,252,859

At 31 December 2024

7,463

56,498

-

1,199,801

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2025

88,399

86,332

174,731

Additions

142,361

-

142,361

Transfer to ownership

(12,950

)

(32,114

)

(45,064

)

At 31 December 2025

217,810

54,218

272,028

DEPRECIATION

At 1 January 2025

75,449

38,583

114,032

Charge for year

1,814

(14,427

)

(12,613

)

At 31 December 2025

77,263

24,156

101,419

NET BOOK VALUE

At 31 December 2025

140,547

30,062

170,609

At 31 December 2024

12,950

47,749

60,699

5.

STOCKS

31.12.25

31.12.24

£

£

Stocks

1,924,788

1,833,637

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

929,458

1,151,761

Other debtors

13,970

8,261

Accrued income

135,483

93,380

Prepayments

8,294

16,087

1,087,205

1,269,489

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

62,005

250,265

Hire purchase contracts (see note 9)

105,551

71,495

Payments on account

307,390

230,074

Trade creditors

1,290,111

870,143

Taxation and social security

149,156

279,252

Other creditors

581,474

468,012

2,495,687

2,169,241

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans

-

61,395

Hire purchase contracts (see note 9)

158,377

137,887

Other creditors

116,273

127,639

274,650

326,921

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.25

31.12.24

£

£

Net obligations repayable:

Within one year

105,551

71,495

Between one and five years

158,377

137,887

263,928

209,382

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Bank overdraft

-

127,118

Bank loans

62,005

184,542

Hire purchase contracts

263,928

209,382

325,933

521,042

There is a floating charge in favour of Virgin Money over all the assets of the company effective from 10th June 2004.