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REGISTERED NUMBER: SC064160 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Carter Ceilings Limited

Carter Ceilings Limited (Registered number: SC064160)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Carter Ceilings Limited (Registered number: SC064160)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 36,160 40,087
Investments 5 4,800 4,800
40,960 44,887

CURRENT ASSETS
Stocks 16,378 77,507
Debtors 6 331,795 362,489
Cash at bank 209,855 374,417
558,028 814,413
CREDITORS
Amounts falling due within one year 7 (487,332 ) (731,940 )
NET CURRENT ASSETS 70,696 82,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,656

127,360

CREDITORS
Amounts falling due after more than one
year

8

(14,761

)

(33,098

)

PROVISIONS FOR LIABILITIES (8,787 ) (9,816 )
NET ASSETS 88,108 84,446

CAPITAL AND RESERVES
Called up share capital 5,099 5,099
Retained earnings 83,009 79,347
SHAREHOLDERS' FUNDS 88,108 84,446

Carter Ceilings Limited (Registered number: SC064160)

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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 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 director and authorised for issue on 22 August 2024 and were signed by:





Mr N J M Miller - Director


Carter Ceilings Limited (Registered number: SC064160)

Notes to the Financial Statements
for the Year Ended 29 February 2024

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, Stirlingshire, FK7 7SW.

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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% 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 29 February 2024

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 20 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 116,053
Additions 4,541
At 29 February 2024 120,594
DEPRECIATION
At 1 March 2023 75,966
Charge for year 8,468
At 29 February 2024 84,434
NET BOOK VALUE
At 29 February 2024 36,160
At 28 February 2023 40,087

Carter Ceilings Limited (Registered number: SC064160)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 29,721
DEPRECIATION
At 1 March 2023 6,290
Charge for year 5,858
At 29 February 2024 12,148
NET BOOK VALUE
At 29 February 2024 17,573
At 28 February 2023 23,431

5. INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 29 February 2024 4,800
NET BOOK VALUE
At 29 February 2024 4,800
At 28 February 2023 4,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 286,521 288,645
Other debtors 45,274 73,844
331,795 362,489

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,018 12,424
Hire purchase contracts 8,322 8,322
Trade creditors 216,583 555,304
Amounts owed to group undertakings 77,249 4,341
Taxation and social security 146,132 115,193
Other creditors 29,028 36,356
487,332 731,940

Carter Ceilings Limited (Registered number: SC064160)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 13,364 23,379
Hire purchase contracts 1,397 9,719
14,761 33,098

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 9,719 18,041

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

Amounts due on hire purchase are secured against the asset to which they relate.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with companies in the group.

11. ULTIMATE PARENT ENTITY

The ultimate parent entity is Niall J.M. Miller (Holdings) Limited.

Niall J.M. Miller (Holdings) Limited is registered in Scotland under registration number SC163238. The registered office is 2 Cunningham Road, Springkerse Industrial Estate, Stirling, Stirlingshire, FK7 7SW.