REGISTERED NUMBER: SC064160 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2026

for

Carter Ceilings Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

51,298

36,835

Investments

5

1,600

4,800

52,898

41,635

CURRENT ASSETS

Stocks

27,147

268,419

Debtors

6

246,313

319,293

Cash at bank

625,437

183,483

898,897

771,195

CREDITORS

Amounts falling due within one year

7

(825,849

)

(706,833

)

NET CURRENT ASSETS

73,048

64,362

TOTAL ASSETS LESS CURRENT LIABILITIES

125,946

105,997

CREDITORS

Amounts falling due after more than one year

8

(14,387

)

(3,360

)

PROVISIONS FOR LIABILITIES

(9,617

)

(9,001

)

NET ASSETS

101,942

93,636

CAPITAL AND RESERVES

Called up share capital

5,099

5,099

Retained earnings

96,843

88,537

SHAREHOLDERS' FUNDS

101,942

93,636

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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 20 August 2026 and were signed by:

Mr N J M Miller - Director

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 as modified by the revaluation of certain assets.

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.

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 25 (2025 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2025

119,209

Additions

38,393

At 28 February 2026

157,602

DEPRECIATION

At 1 March 2025

82,374

Charge for year

23,930

At 28 February 2026

106,304

NET BOOK VALUE

At 28 February 2026

51,298

At 28 February 2025

36,835

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

Plant and

machinery

etc

£

COST

At 1 March 2025

29,721

Additions

37,385

Transfer to ownership

(29,721

)

At 28 February 2026

37,385

DEPRECIATION

At 1 March 2025

16,541

Charge for year

12,052

Transfer to ownership

(19,836

)

At 28 February 2026

8,757

NET BOOK VALUE

At 28 February 2026

28,628

At 28 February 2025

13,180

5.	INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 March 2025

4,800

Revaluations

(3,200

)

At 28 February 2026

1,600

NET BOOK VALUE

At 28 February 2026

1,600

At 28 February 2025

4,800

Cost or valuation at 28 February 2026 is represented by:

Other

investments

£

Valuation in 2026

(3,200

)

Cost

4,800

1,600

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade debtors

232,227

258,038

Other debtors

14,086

61,255

246,313

319,293

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Bank loans and overdrafts

3,341

10,000

Hire purchase contracts

12,332

1,397

Trade creditors

195,079

419,423

Amounts owed to group undertakings

293,577

144,355

Taxation and social security

140,533

110,767

Other creditors

180,987

20,891

825,849

706,833

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.26

28.2.25

£

£

Bank loans

-

3,360

Hire purchase contracts

14,387

-

14,387

3,360

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.26

28.2.25

£

£

Hire purchase contracts

26,719

1,397

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.