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REGISTERED NUMBER: SC064160 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2018

for

Carter Ceilings Limited

Carter Ceilings Limited (Registered number: SC064160)






Contents of the Financial Statements
for the Year Ended 28 February 2018




Page

Balance Sheet 1

Notes to the Financial Statements 3


Carter Ceilings Limited (Registered number: SC064160)

Balance Sheet
28 February 2018

28.2.18 28.2.17
Notes £    £   
FIXED ASSETS
Tangible assets 4 11,302 13,066
Investments 5 4,800 4,800
16,102 17,866

CURRENT ASSETS
Stocks 1,139,159 891,800
Debtors 6 796,952 859,584
1,936,111 1,751,384
CREDITORS
Amounts falling due within one year 7 (1,283,767 ) (1,086,233 )
NET CURRENT ASSETS 652,344 665,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

668,446

683,017

CREDITORS
Amounts falling due after more than one
year

8

(89,818

)

(109,983

)

PROVISIONS FOR LIABILITIES (1,354 ) (2,613 )
NET ASSETS 577,274 570,421

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 572,274 565,421
SHAREHOLDERS' FUNDS 577,274 570,421

Carter Ceilings Limited (Registered number: SC064160)

Balance Sheet - continued
28 February 2018


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 August 2018 and were signed by:





Mr N J Miller - Director


Carter Ceilings Limited (Registered number: SC064160)

Notes to the Financial Statements
for the Year Ended 28 February 2018

1. STATUTORY INFORMATION

Carter Ceilings Limited is a private company, limited by shares, domiciled in Scotland, registration number
SC064160. The registered office is 2 Cunningham Road, Springkerse Industrial Estate, Stirling, Central, FK7
7SW.

2. ACCOUNTING POLICIES

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

Turnover
The turnover shown in the profit and loss account represents amounts receivable during the year from the sale of
suspended ceiling and integrated lighting designs and contracts, exclusive of Value Added Tax. Sales are
recognised at the point at which the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost and 10% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any
incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all
tangible fixed assets are depreciated to nil value.

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

Cost comprises materials, direct labour & production overheads.

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.

Carter Ceilings Limited (Registered number: SC064160)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

2. ACCOUNTING POLICIES - continued

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.

Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of
activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the
valuation of work in progress.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is
probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably
estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time
value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of
an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2017 - 36 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 March 2017 65,381 7,168 72,549
Additions 920 - 920
At 28 February 2018 66,301 7,168 73,469
DEPRECIATION
At 1 March 2017 52,315 7,168 59,483
Charge for year 2,684 - 2,684
At 28 February 2018 54,999 7,168 62,167
NET BOOK VALUE
At 28 February 2018 11,302 - 11,302
At 28 February 2017 13,066 - 13,066

Carter Ceilings Limited (Registered number: SC064160)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

5. INVESTMENTS
Other
investments
£   
COST
At 1 March 2017
and 28 February 2018 4,800
NET BOOK VALUE
At 28 February 2018 4,800
At 28 February 2017 4,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.18 28.2.17
£    £   
Trade debtors 328,660 337,746
Amounts owed by group undertakings 405,225 446,544
Other debtors 63,067 75,294
796,952 859,584

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.18 28.2.17
£    £   
Bank loans and overdrafts 386,748 249,503
Trade creditors 674,509 509,718
Taxation and social security 158,539 304,599
Other creditors 63,971 22,413
1,283,767 1,086,233

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.18 28.2.17
£    £   
Bank loans 89,818 109,983

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.18 28.2.17
£    £   
Bank overdrafts 367,732 192,707
Bank loans 108,834 166,779
476,566 359,486

The company has granted a floating charge over the assets of the company to Clydesdale Bank as security for the
bank overdraft and loan.

Carter Ceilings Limited (Registered number: SC064160)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

10. RELATED PARTY DISCLOSURES

The company is controlled by Niall James Miller who is also a director of Niall J.M. Miller (Holdings) Limited,
the ultimate parent undertaking of Carter Ceilings Limited. Transactions between Niall J.M. Miller (Holdings)
Limited and Carter Ceilings Limited are as follows:

Rent and management charges paid by Carter Ceilings Limited to Niall J.M. Miller (Holdings) Limited totalled
£24,000 & £86,667 respectively (2017 - £24,000 & £86,667). At 28th February 2018 there was a balance due
from Niall J.M. Miller (Holdings) Limited of £405,225 (2017 - £446,544). The loan is interest free and
repayable on demand.

During the year Carter Ceilings Limited paid a dividend to Niall J.M. Miller (Holdings) Limited of £95,000
(2017 - £60,000).