Registration number: SC350110

Craig Morman Ceramics Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Craig Morman Ceramics Limited

Company Information

Director

C Morman

Company secretary

N Morman

Registered office

37 Grange Park Dunfermline Fife KY11 8QQ

Craig Morman Ceramics Limited

(Registration number: SC350110)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	132,570	77,720
Current assets
Stocks	5	11,000	8,500
Debtors	6	151,548	136,336
Cash at bank and in hand		51,483	75,626
		214,031	220,462
Creditors: Amounts falling due within one year	7	(102,082)	(119,066)
Net current assets		111,949	101,396
Total assets less current liabilities		244,519	179,116
Creditors: Amounts falling due after more than one year	7	(15,303)	-
Provisions for liabilities		(21,731)	(14,767)
Net assets		207,485	164,349
Capital and reserves
Called up share capital	8	100	100
Retained earnings		207,385	164,249
Shareholders' funds		207,485	164,349

Craig Morman Ceramics Limited

(Registration number: SC350110)
Balance Sheet as at 31 October 2025

For the financial year ending 31 October 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 11 September 2026
 

......................................... C Morman Director

Craig Morman Ceramics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
37 Grange Park
Dunfermline
Fife
KY11 8QQ

These financial statements were authorised for issue by the director on 11 September 2026.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities.

Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Tangible assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.

Craig Morman Ceramics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	20% Straight Line
Motor Vehicles	25% Straight Line
Fixtures and Fittings	20% Straight Line
Computer Equipment	25% Straight Line

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

Leases

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives. Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

Financial instruments

The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
 
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
 
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2024 - 6).

Craig Morman Ceramics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £
Cost or valuation
At 1 November 2024	34,148	138,440	10,783	7,822
Additions	34,457	57,134	2,904	-
Disposals	-	(15,725)	-	-
At 31 October 2025	68,605	179,849	13,687	7,822
Depreciation
At 1 November 2024	15,572	85,924	8,065	3,912
Charge for the year	5,575	30,016	2,098	1,956
Eliminated on disposal	-	(15,725)	-	-
At 31 October 2025	21,147	100,215	10,163	5,868
Carrying amount
At 31 October 2025	47,458	79,634	3,524	1,954
At 31 October 2024	18,576	52,516	2,718	3,910

	Total £
Cost or valuation
At 1 November 2024	191,193
Additions	94,495
Disposals	(15,725)
At 31 October 2025	269,963
Depreciation
At 1 November 2024	113,473
Charge for the year	39,645
Eliminated on disposal	(15,725)
At 31 October 2025	137,393
Carrying amount
At 31 October 2025	132,570
At 31 October 2024	77,720

Craig Morman Ceramics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

5

Stocks

	2025 £	2024 £
Other inventories	11,000	8,500

6

Debtors

Current	2025 £	2024 £
Trade debtors	141,550	113,896
Prepayments	3,910	3,392
Other debtors	6,088	19,048
	151,548	136,336

Craig Morman Ceramics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Loans and borrowings		16,910	16,049
Trade creditors		-	40
Taxation and social security		27,110	45,651
Accruals and deferred income		19,761	3,575
Other creditors		38,301	53,751
		102,082	119,066

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Loans and borrowings		15,303	-

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	75	75	75	75
A Ordinary of £1 each	25	25	25	25
	100	100	100	100

9	Related party transactions

Transactions with the director

2025	At 1 November 2024 £	Advances to director £	Repayments by director £	At 31 October 2025 £
Loan 1	19,047	5,492	(24,539)	-
Loan 2	-	23,550	(17,461)	6,089
	19,047	29,042	(42,000)	6,089

Craig Morman Ceramics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

2024	At 1 November 2023 £	Advances to director £	Repayments by director £	At 31 October 2024 £
Loan 1	34,512	71,631	(87,096)	19,047
	34,512	71,631	(87,096)	19,047

Other transactions with the director

The loan to the director is repayable on demand and interest is charged on balances over £10,000 at the official rate of interest advised by HMRC on such loans.