REGISTERED NUMBER: 01211246 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

FOR

QUALITY CEILINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Kenneth Mager

Craig Sutcliffe

REGISTERED OFFICE:

Units 14/15

Marshalls Hall Mills

Elland Lane

Elland

HX5 9DU

REGISTERED NUMBER:

01211246 (England and Wales)

ACCOUNTANTS:

Walter Dawson & Son

Chartered Accountants

First Floor Offices, Unit A4

Old Power Way

Lowfields Business Park

Elland

HX5 9DE

FIXED ASSETS

Tangible assets

4

252,744

256,788

CURRENT ASSETS

Stocks

56,277

19,592

Debtors

5

183,065

372,276

Cash at bank and in hand

763,008

475,078

1,002,350

866,946

CREDITORS

Amounts falling due within one year

6

362,474

417,707

NET CURRENT ASSETS

639,876

449,239

TOTAL ASSETS LESS CURRENT LIABILITIES

892,620

706,027

PROVISIONS FOR LIABILITIES

10,437

9,886

NET ASSETS

882,183

696,141

CAPITAL AND RESERVES

Called up share capital

14,100

14,100

Profit and loss account

868,083

682,041

882,183

696,141

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

Craig Sutcliffe - Director

1.	STATUTORY INFORMATION

Quality 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.

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

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover is recognised by reference to the stage of completion.

Retentions are recognised when there is a reasonable certainty that the related debt will be received by the company.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Construction contracts

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 as a finance cost in profit or loss in the period it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2024

272,215

16,629

35,815

62,935

387,594

Additions

-

-

-

24,123

24,123

Disposals

-

(9,799

)

(22,135

)

(22,495

)

(54,429

)

At 31 May 2025

272,215

6,830

13,680

64,563

357,288

DEPRECIATION

At 1 June 2024

58,771

16,629

33,813

21,593

130,806

Charge for year

5,444

-

812

12,913

19,169

Eliminated on disposal

-

(9,799

)

(22,135

)

(13,497

)

(45,431

)

At 31 May 2025

64,215

6,830

12,490

21,009

104,544

NET BOOK VALUE

At 31 May 2025

208,000

-

1,190

43,554

252,744

At 31 May 2024

213,444

-

2,002

41,342

256,788

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

143,190

185,012

Amounts recoverable on

contracts

20,009

148,420

Other debtors

19,866

38,844

183,065

372,276

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

71,931

198,052

Amounts owed to participating interests

7,054

22,054

Taxation and social security

103,377

49,709

Other creditors

180,112

147,892

362,474

417,707

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

1,122

6,729

Between one and five years

-

7,290

1,122

14,019

8.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £63,110 (2024: £63,024). Contributions totalling £494 (2024: £250) were payable to the fund at the year end and are included in creditors.