IRIS Accounts Production v25.1.4.42 01452966 Board of Directors 1.4.24 31.3.25 31.3.25 Medium entities true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh014529662024-03-31014529662025-03-31014529662024-04-012025-03-31014529662023-03-31014529662023-04-012024-03-31014529662024-03-3101452966ns15:EnglandWales2024-04-012025-03-3101452966ns14:PoundSterling2024-04-012025-03-3101452966ns10:Director12024-04-012025-03-3101452966ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3101452966ns10:MediumEntities2024-04-012025-03-3101452966ns10:Audited2024-04-012025-03-3101452966ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-04-012025-03-3101452966ns10:Medium-sizedCompaniesRegimeForAccounts2024-04-012025-03-3101452966ns10:FullAccounts2024-04-012025-03-310145296612024-04-012025-03-3101452966ns10:Director22024-04-012025-03-3101452966ns10:Director32024-04-012025-03-3101452966ns10:Director42024-04-012025-03-3101452966ns10:CompanySecretary12024-04-012025-03-3101452966ns10:RegisteredOffice2024-04-012025-03-3101452966ns5:RetainedEarningsAccumulatedLosses2024-03-3101452966ns5:RetainedEarningsAccumulatedLosses2023-03-3101452966ns5:RetainedEarningsAccumulatedLosses2024-04-012025-03-3101452966ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3101452966ns5:RetainedEarningsAccumulatedLosses2025-03-3101452966ns5:RetainedEarningsAccumulatedLosses2024-03-3101452966ns5:CurrentFinancialInstruments2025-03-3101452966ns5:CurrentFinancialInstruments2024-03-3101452966ns5:Non-currentFinancialInstruments2025-03-3101452966ns5:Non-currentFinancialInstruments2024-03-3101452966ns5:ShareCapital2025-03-3101452966ns5:ShareCapital2024-03-3101452966ns5:IntangibleAssetsOtherThanGoodwill2024-04-012025-03-3101452966ns5:ComputerSoftware2024-04-012025-03-310145296652024-04-012025-03-310145296652023-04-012024-03-3101452966ns10:HighestPaidDirector2024-04-012025-03-3101452966ns10:HighestPaidDirector2023-04-012024-03-3101452966ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2024-04-012025-03-3101452966ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-04-012024-03-3101452966ns5:OwnedAssets2024-04-012025-03-3101452966ns5:OwnedAssets2023-04-012024-03-3101452966ns5:LeasedAssets2024-04-012025-03-3101452966ns5:LeasedAssets2023-04-012024-03-3101452966112024-04-012025-03-3101452966112023-04-012024-03-3101452966132024-04-012025-03-3101452966132023-04-012024-03-3101452966ns5:HirePurchaseContracts2024-04-012025-03-3101452966ns5:HirePurchaseContracts2023-04-012024-03-3101452966ns5:ComputerSoftware2025-03-3101452966ns5:LandBuildingsns5:ShortLeaseholdAssets2024-03-3101452966ns5:PlantMachinery2024-03-3101452966ns5:MotorVehicles2024-03-3101452966ns5:ComputerEquipment2024-03-3101452966ns5:LandBuildingsns5:ShortLeaseholdAssets2024-04-012025-03-3101452966ns5:PlantMachinery2024-04-012025-03-3101452966ns5:MotorVehicles2024-04-012025-03-3101452966ns5:ComputerEquipment2024-04-012025-03-3101452966ns5:LandBuildingsns5:ShortLeaseholdAssets2025-03-3101452966ns5:PlantMachinery2025-03-3101452966ns5:MotorVehicles2025-03-3101452966ns5:ComputerEquipment2025-03-3101452966ns5:LandBuildingsns5:ShortLeaseholdAssets2024-03-3101452966ns5:PlantMachinery2024-03-3101452966ns5:MotorVehicles2024-03-3101452966ns5:ComputerEquipment2024-03-3101452966ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3101452966ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-04-012025-03-3101452966ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2025-03-3101452966ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3101452966ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3101452966ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3101452966ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2025-03-3101452966ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-03-3101452966ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2025-03-3101452966ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-03-3101452966ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2025-03-3101452966ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3101452966ns5:HirePurchaseContracts2025-03-3101452966ns5:HirePurchaseContracts2024-03-3101452966ns5:WithinOneYear2025-03-3101452966ns5:WithinOneYear2024-03-3101452966ns5:BetweenOneFiveYears2025-03-3101452966ns5:BetweenOneFiveYears2024-03-3101452966ns5:AllPeriods2025-03-3101452966ns5:AllPeriods2024-03-3101452966ns5:Secured2025-03-3101452966ns5:Secured2024-03-3101452966ns5:AcceleratedTaxDepreciationDeferredTax2025-03-3101452966ns5:AcceleratedTaxDepreciationDeferredTax2024-03-3101452966ns5:DeferredTaxation2024-03-3101452966ns5:DeferredTaxation2024-04-012025-03-3101452966ns5:DeferredTaxation2025-03-31
REGISTERED NUMBER: 01452966 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

SERVICE CEILINGS LIMITED

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Income and Retained Earnings 10

Balance Sheet 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


SERVICE CEILINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: A J Nurse
Mrs M C Nurse
A T Nurse
P A J Baker



SECRETARY: D H Nash



REGISTERED OFFICE: Sovereign Way
Trafalgar Industrial Estate
Downham Market
Norfolk
PE38 9SW



REGISTERED NUMBER: 01452966 (England and Wales)



SENIOR STATUTORY AUDITOR: Robert Booty ACA FCCA CTA



AUDITORS: Wheelers
Chartered Accountants, Tax Consultants
& Statutory Auditors
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The directors submit their strategic report for the year ended 31 March 2025.

Review of the Business

During the financial year ended 31 March 2025, the company has been engaged with its core operations covering suspended ceilings, partitioning, drylining and SFS (steel framing solutions).

The company's turnover has been to expectations and the results of trading have been acceptable.

The satisfactory performance of the company is attributable to the principals of quality delivery, strong level of communications with customers and its supply chain and being responsive to demand.

Key financial indicators for the year are:
31 March 2025 31 March 2024 Change
£ £
Turnover 16,332,196 18,151,370 (10.02% )
Gross Profit 4,773,191 4,984,051 (4.23% )
Equity 3,557,554 3,149,946 12.94%
Average number of employees 67 71 (5.63% )

The total equity increased in the year from £3,149,946 to £3,557,554 as a result of the profit after tax of £1,157,608 less dividends declared during the year of £750,000

The core purpose of Service Ceilings Limited trading as SCL Interiors (SCL) is to provide specialist fit out and drylining services and SFS. The company looks to maintain its position in the marketplace by offering reliable, responsive and competitive services which exceed the needs and expectations of its customers.

Objectives:

The director's aim is to maintain the successful aspects of the business which have served them and the company's customers over numerous years of consistent trading.

The development of further relationships within the supply chain and the retention of key workers throughout all levels of the business is also within aspirations.

Operational efficiency where possible will be made to the benefit of all for a quality delivery and client satisfaction.

Principal risks and uncertainties

Market forces and macro-economic circumstances are always under review to enable the company to maintain its position within the industry and being able to offer its customers certainty and confidence in the delivery of projects by being competitive in conjunction with sustainable pricing.

Credit risk

All projects are constantly reviewed to ensure they are delivered to projected outcomes which are sustainable within the business model. Any credit allowed within contractual relationships is monitored to ensure payments are received on time and that over exposure to any one customer is mitigated.

Liquidity risk

The directors have reviewed the operational finance aspects of the business and are satisfied that sufficient resources are available to meet all obligations and commitments.







SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025

Future plans

The directors look to maintain the business within its place in the market whilst being able to be in such a position to take opportunities that may arise to achieve sustainable growth by having a responsive reciprocal dialogue with both its customers and its supply chain.

ON BEHALF OF THE BOARD:





A J Nurse - Director


8 July 2025

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of specialists in suspended ceilings, partitioning, drylining and steel framing solutions.

DIVIDENDS
During the year the company paid dividends amounting to £750,000 (2024 - £500,000).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

A J Nurse
Mrs M C Nurse
A T Nurse

Other changes in directors holding office are as follows:

P A J Baker - appointed 15 November 2024

DISCLOSURE IN THE STRATEGIC REPORT
In accordance with Section 414C(11) of the Companies Act 2006 other matters, normally included within this report, are set out in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2025


AUDITORS
In accordance with Section 487(2) of the Companies Act 2006 the auditors, Wheelers, are deemed to have been re-appointed.

ON BEHALF OF THE BOARD:





A J Nurse - Director


8 July 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SERVICE CEILINGS LIMITED

Opinion
We have audited the financial statements of Service Ceilings Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SERVICE CEILINGS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SERVICE CEILINGS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The primary responsibility for the prevention and detection of fraud rests with the directors.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are:

- Those that relate to the reporting framework (United Kingdom Accounting Standards in conformity with the
Companies Act 2006 and FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland").

- Relevant tax compliance regulations in the United Kingdom.

- In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures in the financial statements; and

- Laws and regulations relating to health and safety, employee matters and the environment.

We understood how the company is complying with those frameworks by making enquiries of management, those
responsible for legal and compliance procedures and the Company Secretary. We corroborated our enquiries through our review of Board minutes.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussion with management and our prior knowledge of the company's activities and controls. We have carried out procedures including a review of journal entries and a review of accounting estimates and judgements which were designed to provide reasonable assurance that the financial statements are free from fraud or error.

Based on this understanding we designed audit procedures to identify non-compliance with such laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SERVICE CEILINGS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Robert Booty ACA FCCA CTA (Senior Statutory Auditor)
for and on behalf of Wheelers
Chartered Accountants, Tax Consultants
& Statutory Auditors
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

9 July 2025

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025

31.3.25 31.3.24
Notes £    £   

TURNOVER 16,332,196 18,151,370

Cost of sales 11,559,005 13,167,319
GROSS PROFIT 4,773,191 4,984,051

Administrative expenses 3,186,122 3,509,376
1,587,069 1,474,675

Other operating income 3 66,085 28,360
OPERATING PROFIT 6 1,653,154 1,503,035

Interest receivable and similar income 30,472 6,693
Interest payable and similar expenses 7 (112,004 ) (171,609 )
PROFIT BEFORE TAXATION 1,571,622 1,338,119

Tax on profit 8 414,014 355,898
PROFIT FOR THE FINANCIAL YEAR 1,157,608 982,221

Retained earnings at beginning of year 3,144,946 2,662,725

Dividends 9 (750,000 ) (500,000 )

RETAINED EARNINGS AT END OF
YEAR

3,552,554

3,144,946

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

BALANCE SHEET
31 MARCH 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 33,535 -
Tangible assets 11 664,050 643,963
697,585 643,963

CURRENT ASSETS
Stocks 12 20,000 20,000
Debtors 13 3,292,143 4,843,147
Cash at bank and in hand 5,089,441 3,746,933
8,401,584 8,610,080
CREDITORS
Amounts falling due within one year 14 5,231,050 5,694,181
NET CURRENT ASSETS 3,170,534 2,915,899
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,868,119

3,559,862

CREDITORS
Amounts falling due after more than one
year

15

(182,065

)

(292,116

)

PROVISIONS FOR LIABILITIES 19 (128,500 ) (117,800 )
NET ASSETS 3,557,554 3,149,946

CAPITAL AND RESERVES
Called up share capital 20 5,000 5,000
Retained earnings 21 3,552,554 3,144,946
SHAREHOLDERS' FUNDS 3,557,554 3,149,946

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2025 and were signed on its behalf by:





A J Nurse - Director


SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025

31.3.25 31.3.24
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,365,888 3,560,365
Interest paid (88,401 ) (150,725 )
Interest element of hire purchase payments
paid

(23,603

)

(20,884

)
Tax paid (204,583 ) (461,330 )
Net cash from operating activities 2,049,301 2,927,426

Cash flows from investing activities
Purchase of intangible fixed assets (33,535 ) -
Purchase of tangible fixed assets (22,409 ) (12,721 )
Sale of tangible fixed assets 64,088 48,070
Interest received 30,472 6,578
Net cash from investing activities 38,616 41,927

Cash flows from financing activities
Loan repayments in year (312,500 ) (312,500 )
Capital repayments in year (182,909 ) (189,266 )
Equity dividends paid (250,000 ) (500,000 )
Net cash from financing activities (745,409 ) (1,001,766 )

Increase in cash and cash equivalents 1,342,508 1,967,587
Cash and cash equivalents at beginning of
year

2

3,746,933

1,779,346

Cash and cash equivalents at end of year 2 5,089,441 3,746,933

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.3.25 31.3.24
£    £   
Profit before taxation 1,571,622 1,338,119
Depreciation charges 165,750 188,967
Loss/(profit) on disposal of fixed assets 3,001 (8,090 )
Finance costs 112,004 171,609
Finance income (30,472 ) (6,693 )
1,821,905 1,683,912
Increase in stocks - (10,000 )
Decrease in trade and other debtors 1,551,004 3,150,955
Decrease in trade and other creditors (1,007,021 ) (1,264,502 )
Cash generated from operations 2,365,888 3,560,365

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025
31.3.25 1.4.24
£    £   
Cash and cash equivalents 5,089,441 3,746,933
Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 3,746,933 1,779,346


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24 Cash flow At 31.3.25
£    £    £   
Net cash
Cash at bank and in hand 3,746,933 1,342,508 5,089,441
3,746,933 1,342,508 5,089,441
Debt
Finance leases (286,159 ) (47,608 ) (333,767 )
Debts falling due within 1 year (311,526 ) 155,276 (156,250 )
Debts falling due after 1 year (157,224 ) 157,224 -
(754,909 ) 264,892 (490,017 )
Total 2,992,024 1,607,400 4,599,424

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATEMENT OF COMPLIANCE

Service Ceilings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements have been prepared in compliance with Financial Reporting Standard 102. "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentational currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern
The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and key sources of estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements:

Recoverability of long term contract balances
The recoverability of trade and contract receivables is regularly reviewed in the light of available economic information specific to each receivable and provisions are recognised for balances considered to be irrecoverable.

Revenue and profit recognition
The estimation techniques used for revenue and profit recognition in respect of the company's long term contracts requires forecasts to be made of the outcome which includes assessments and judgements to be made on the recovery of changes in scope of work, contract programmes, maintenance and defects liabilities and changes in costs.

Revenue recognition
Turnover represents the sales value of goods and services supplied, excluding value added tax, adjusted for ongoing contracts where a right to consideration exists.

Amounts recoverable on contracts are included in debtors and stated at cost, plus attributable profit to the extent that it is reasonably certain after making provisions for contingencies, any losses incurred or foreseen in bringing contracts to completion, and less amounts received as progress payments. Cost for this purpose includes the cost of materials and all overheads other than those relating to the general administration of the company. For any contracts where receipts exceed the sales value of goods and services supplied, the excess is included in creditors as payments on account.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, except for freehold land and investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Short leasehold - 4% straight line
Tools and equipment - 15% reducing balance
Motor vehicles - 25% reducing balance
Office equipment - 15% reducing balance

Depreciation is provided when the assets are available for use.

The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable, and are written down immediately to their recoverable amount.

Useful lives and residual values are reviewed annually and where adjustments are required, these are made accordingly.

Stocks and work in progress
Stocks and work in progress are stated at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued

Leasing and hire purchase commitments
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful lives. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the statement of comprehensive income so as to achieve a constant rate of interest on the remaining balance of the liability.

Rentals payable under operating leases are charged in the statement of comprehensive income on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.

Pensions
The company operates defined contribution pension schemes for both the directors of the company and other employees. The assets of these schemes are held separately from those of the company in independently administered funds. Contributions are recognised in the statement of comprehensive income in the year in which they become payable.

Impairment of non-financial assets
The company assesses at each reporting date whether an asset may be impaired. If any such indication exists the company estimates the recoverable amount of the asset. If it is not possible to estimate the recoverable amount of the individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

The recoverable amount of an asset or cash generating unit is the higher of its fair value less costs to sell and its value in use. If the recoverable amount is less than its carrying amount, the carrying amount of the asset is impaired and it is reduced to its recoverable amount through an impairment in the statement of comprehensive income unless the asset is carried at a revalued amount where the impairment loss of the revalued asset is a revaluation decrease.

An impairment loss recognised for all assets is reversed in a subsequent period if and only if the reasons for the impairment loss have ceased to apply.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short term deposits with an original maturity date of three months or less. For the purposes of the cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in other operating expenses.

Interest-bearing loans and borrowings
All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. The effective interest rate amortisation is included in finance revenue in the statement of comprehensive income.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement. The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, including trade and other debtors, trade and other creditors, cash and bank balances at the transaction price.

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

3. OTHER OPERATING INCOME
31.3.25 31.3.24
£    £   
Sundry income 250 -
Management charges 15,000 15,000
Other grants 50,835 13,360
66,085 28,360

Other grants relate to income received from the CITB to contribute towards the training of construction workers.

4. EMPLOYEES AND DIRECTORS
31.3.25 31.3.24
£    £   
Wages and salaries 3,595,817 3,879,925
Social security costs 433,415 449,508
Other pension costs 247,441 223,350
4,276,673 4,552,783

The average number of employees during the year was as follows:
31.3.25 31.3.24

Staff 64 68
Directors 3 3
67 71

5. DIRECTORS' EMOLUMENTS
31.3.25 31.3.24
£    £   
Directors' remuneration 232,390 232,390
Directors' pension contributions to money purchase schemes 62,050 62,050

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
31.3.25 31.3.24
£    £   
Emoluments etc 115,906 115,906

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.3.25 31.3.24
£    £   
Hire of plant and machinery 304,417 312,274
Other operating leases 75,000 75,000
Depreciation - owned assets 45,328 51,708
Depreciation - assets on hire purchase contracts 120,422 137,259
Loss/(profit) on disposal of fixed assets 3,001 (8,090 )
Auditors' remuneration 21,750 16,000
Auditors' remuneration for non audit work 11,470 8,470
Operating lease rentals - plant and machinery 9,680 9,680
Stocks recognised as an expense 4,732,928 5,815,832

7. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.25 31.3.24
£    £   
Bank loan interest 24,205 45,252
Loan interest 64,196 105,473
Hire purchase interest payable 23,603 20,884
112,004 171,609

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.25 31.3.24
£    £   
Current tax:
UK corporation tax 403,314 392,198

Deferred tax 10,700 (36,300 )
Tax on profit 414,014 355,898

UK corporation tax has been charged at 25% (2024 - 25%).

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.25 31.3.24
£    £   
Profit before tax 1,571,622 1,338,119
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2024 - 25%)

392,906

334,530

Effects of:
Expenses not deductible for tax purposes 21,126 21,348
Deferred tax movement not provided for (18 ) 20
Total tax charge 414,014 355,898

Factors that may affect future tax charges
The company is not aware of any factors that may affect future tax charges other than the change in corporation tax rates.

9. DIVIDENDS
31.3.25 31.3.24
£    £   
Ordinary shares of £1 each
Final 750,000 500,000

10. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 33,535
At 31 March 2025 33,535
NET BOOK VALUE
At 31 March 2025 33,535

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

11. TANGIBLE FIXED ASSETS
Short Tools and Motor Office
leasehold equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 29,306 59,448 1,114,293 155,228 1,358,275
Additions - 1,389 247,965 3,572 252,926
Disposals - (11,624 ) (231,582 ) (19,714 ) (262,920 )
At 31 March 2025 29,306 49,213 1,130,676 139,086 1,348,281
DEPRECIATION
At 1 April 2024 4,585 36,605 583,041 90,081 714,312
Charge for year 1,173 3,338 151,399 9,840 165,750
Eliminated on disposal - (9,491 ) (173,649 ) (12,691 ) (195,831 )
At 31 March 2025 5,758 30,452 560,791 87,230 684,231
NET BOOK VALUE
At 31 March 2025 23,548 18,761 569,885 51,856 664,050
At 31 March 2024 24,721 22,843 531,252 65,147 643,963

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2024 702,591
Additions 230,517
Disposals (29,070 )
Transfer to ownership (200,864 )
At 31 March 2025 703,174
DEPRECIATION
At 1 April 2024 296,597
Charge for year 120,422
Eliminated on disposal (18,064 )
Transfer to ownership (124,490 )
At 31 March 2025 274,465
NET BOOK VALUE
At 31 March 2025 428,709
At 31 March 2024 405,994

12. STOCKS
31.3.25 31.3.24
£    £   
Raw materials and consumables 20,000 20,000

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 125,949 305,908
Amounts recoverable on
contracts 2,436,502 2,937,282
Other debtors 82,303 985,438
VAT 247,597 174,807
Prepayments and accrued income 399,792 439,712
3,292,143 4,843,147

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans (see note 16) 156,250 311,526
Hire purchase contracts (see note 17) 153,711 153,374
Trade creditors 2,018,356 2,303,519
Amounts owed to group undertakings 1,634,657 1,664,419
Corporation tax payable 403,314 204,583
Social security and other taxes 203,607 241,349
Other creditors 84,385 113,862
Accruals and deferred income 576,672 701,451
Deferred government grants 98 98
5,231,050 5,694,181

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Bank loans (see note 16) - 157,224
Hire purchase contracts (see note 17) 180,056 132,785
Deferred government grants 2,009 2,107
182,065 292,116

16. LOANS

An analysis of the maturity of loans is given below:

31.3.25 31.3.24
£    £   
Amounts falling due within one year or on demand:
Bank loans 156,250 311,526

Amounts falling due between one and two years:
Bank loans - 1-2 years - 157,224

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.25 31.3.24
£    £   
Net obligations repayable:
Within one year 153,711 153,374
Between one and five years 180,056 132,785
333,767 286,159

Non-cancellable operating leases
31.3.25 31.3.24
£    £   
Within one year 31,762 43,497
Between one and five years 50,996 85,519
82,758 129,016

18. SECURED DEBTS

The following secured debts are included within creditors:

31.3.25 31.3.24
£    £   
Bank loans 156,250 468,750
Hire purchase contracts 333,767 286,159
Amount owed to parent company 1,634,657 1,664,419
2,124,674 2,419,328

Bank loans are secured by a fixed and floating charge over the assets of the company.

The obligations under hire purchase agreements are secured over the assets to which they relate.

The amount owed to the parent company is secured by way of a fixed and floating charge over the assets of the company.

19. PROVISIONS FOR LIABILITIES
31.3.25 31.3.24
£    £   
Deferred tax
Accelerated capital allowances 128,500 117,800

Deferred
tax
£   
Balance at 1 April 2024 117,800
Provided during year 10,700
Balance at 31 March 2025 128,500

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

20. CALLED UP SHARE CAPITAL

Issued, called up and fully paid:
31.3.2025 31.3.2024
£ £
Ordinary 'A' class shares of £1 each 1,750 1,750
Ordinary 'B' class shares of £1 each 1,250 1,250
Ordinary 'C' class shares of £1 each 2,000 2,000
5,000 5,000

The Ordinary A shares of £1 each, Ordinary B shares of £1 each and Ordinary C shares of £1 each rank pari passu in all respects, with the exception that the Ordinary B shares shall be deemed to represent 37.5% of the value of all the issued shares of the company as a whole and not the proportion that they would otherwise bear and the issued Ordinary A shares and Ordinary C shares shall be deemed in aggregate to represent 62.5% of the value of the issued shares of the company as a whole and not the proportion that they would otherwise bear.

21. RESERVES
Retained
earnings
£   

At 1 April 2024 3,144,946
Profit for the year 1,157,608
Dividends (750,000 )
At 31 March 2025 3,552,554

22. PENSION COMMITMENTS

The company makes contributions to defined contribution pension schemes whose assets are held separately from those of the company in independently administered funds. The pension charge represents contributions payable in the year by the company to the schemes and amounted to £247,441 (2024 - £223,350).

At 31 March 2025 outstanding pension contributions amounted to £11,743 (2024 - £18,685) and are included in other creditors.

23. ULTIMATE PARENT COMPANY

Service Ceilings (Holdings) Limited (incorporated in England and Wales ) is regarded by the directors as being the company's ultimate parent company.

The registered office of Service Ceilings (Holdings) Limited is Sovereign Way, Trafalgar Industrial Estate, Downham Market, Norfolk, United Kingdom, PE38 9SW. There is no overall controlling party of Service Ceilings (Holdings) Limited. Copies of group accounts can be obtained from Companies House.

SERVICE CEILINGS LIMITED (REGISTERED NUMBER: 01452966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

24. 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 wholly owned subsidiaries within the group.

The company had the following transactions, in the normal course of trade, with the below related parties, that are not part of the group:-

S C L Interiors (London) Limited

31.3.25 31.3.24
£ £
Debtors 78,169 982,026

During the year Service Ceilings Limited acted as an undisclosed agent for S C L Interiors (London) Limited. The value of the goods supplied under this arrangement amounted to £13,923,870 (2024 - £14,449,169). A J Nurse and A T Nurse are directors of S C L Interiors (London) Limited.