Carpet Master of Stirling Limited 31/03/2025 iXBRL

Company registration number: SC427460

Carpet Master of Stirling Limited

Unaudited filleted financial statements

31 March 2025

Carpet Master of Stirling Limited

Contents

Statement of financial position

Notes to the financial statements

Carpet Master of Stirling Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	13,950		18,600
Tangible assets	6	54,422		78,793
Investments	7	25,000		25,000
		_______		_______
			93,372		122,393

Current assets
Stocks		27,250		24,500
Debtors	8	62,378		46,722
Cash at bank and in hand		89,609		60,487
		_______		_______
		179,237		131,709
Creditors: amounts falling due
within one year	9	( 95,402)		( 74,898)
		_______		_______
Net current assets			83,835		56,811
			_______		_______
Total assets less current liabilities			177,207		179,204

Creditors: amounts falling due
after more than one year	10		( 10,979)		( 25,837)

Provisions for liabilities			( 10,873)		( 10,219)

			_______		_______
Net assets			155,355		143,148
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			155,255		143,048
			_______		_______
Shareholder funds			155,355		143,148
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 08 October 2025 , and are signed on behalf of the board by:

Isobel MacDiarmid

Director

Company registration number: SC427460

Carpet Master of Stirling Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 36 Weaver Row, St Ninians, Stirling, FK7 9AS.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	7.14 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

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. 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 a 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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25.00 %	straight line
Motor vehicles	-	25.00 %	straight line
Computer equipment	-	33.33 %	straight line

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.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

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.

Financial instruments

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.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand includes cash and short term highly liquid investments.

Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2024: 8 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	65,100	65,100
	_______	_______
Amortisation
At 1 April 2024	46,500	46,500
Charge for the year	4,650	4,650
	_______	_______
At 31 March 2025	51,150	51,150
	_______	_______
Carrying amount
At 31 March 2025	13,950	13,950
	_______	_______
At 31 March 2024	18,600	18,600
	_______	_______

6. Tangible assets

	Plant and machinery	Motor vehicles	Computer equipment	Total
	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	39,880	109,233	2,138	151,251
	_______	_______	_______	_______
Depreciation
At 1 April 2024	24,672	45,648	2,138	72,458
Charge for the year	8,475	15,896	-	24,371
	_______	_______	_______	_______
At 31 March 2025	33,147	61,544	2,138	96,829
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	6,733	47,689	-	54,422
	_______	_______	_______	_______
At 31 March 2024	15,208	63,585	-	78,793
	_______	_______	_______	_______

7. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	25,000	25,000
	_______	_______
Impairment
At 1 April 2024 and 31 March 2025	-	-
	_______	_______
Carrying amount
At 31 March 2025	25,000	25,000
	_______	_______
At 31 March 2024	25,000	25,000
	_______	_______

8. Debtors

	2025	2024
	£	£
Trade debtors	61,993	46,337
Other debtors	385	385
	_______	_______
	62,378	46,722
	_______	_______

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	45,722	36,754
Corporation tax	5,736	( 15)
Social security and other taxes	32,782	26,268
Other creditors	1,162	1,891
	_______	_______
	95,402	74,898
	_______	_______

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,667	11,667
Other creditors	9,312	14,170
	_______	_______
	10,979	25,837
	_______	_______

11. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Isobel MacDiarmid	( 298)	( 10,100)	10,350	( 48)
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Isobel MacDiarmid	( 43)	( 24,068)	23,813	( 298)
		_______	_______	_______	_______

Loans from the director are interest free and repayable on demand.

12. Related party transactions

Carpet Master Binding Services Limited - -

The company provided services to Carpet Master Binding Services Limited, a company under the control of the director. These services have been provided under the normal commericial terms of both companies.