Stephen Carlin Ltd.

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—6

Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Stephen Carlin Ltd. For The Year Ended 31 August 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Stephen Carlin Ltd. For The Year Ended 31 August 2026 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

This report is made solely to the directors of Stephen Carlin Ltd. , as a body, in accordance with the terms of our engagement letter dated 26 February 2015. Our work has been undertaken solely to prepare for your approval the accounts of Stephen Carlin Ltd. and state those matters that we have agreed to state to the directors of Stephen Carlin Ltd. , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stephen Carlin Ltd. and its directors, as a body, for our work or for this report.

It is your duty to ensure that Stephen Carlin Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Stephen Carlin Ltd. . You consider that Stephen Carlin Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Stephen Carlin Ltd. . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

2nd October 2026

Gillespie's Fife

Accountants

Fric Ajax Way

Methil

Leven

KY8 3RS

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Stephen Carlin Ltd.

Balance Sheet

As At 31 August 2026

Balance Sheet

Registered number: SC346682

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		9,618		12,481

			9,618		12,481
CURRENT ASSETS
Debtors	5	38,250		39,618
Cash at bank and in hand		35,205		42,499

		73,455		82,117
Creditors: Amounts Falling Due Within One Year	6	(14,458 )		(22,462 )

NET CURRENT ASSETS (LIABILITIES)			58,997		59,655

TOTAL ASSETS LESS CURRENT LIABILITIES			68,615		72,136

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,827 )		(2,371 )

NET ASSETS			66,788		69,765

CAPITAL AND RESERVES
Called up share capital	7		2		2
Profit and Loss Account			66,786		69,763

SHAREHOLDERS' FUNDS			66,788		69,765

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Stephen Carlin Ltd.

Balance Sheet (continued)

As At 31 August 2026

For the year ending 31 August 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Stephen Carlin

Director

2nd October 2026

The notes on pages 4 to 6 form part of these financial statements.

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Stephen Carlin Ltd.

Notes to the Financial Statements

For The Year Ended 31 August 2026

Notes to the Financial Statements

1. General Information

Stephen Carlin Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC346682 . The registered office is 49 Carden Castle Avenue, Cardenden, Fife, KY5 0EH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Reducing balance
Motor Vehicles	25% Reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Taxation

Corporation tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Stephen Carlin Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2026

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 September 2025	27,011	56,181	83,192

As at 31 August 2026	27,011	56,181	83,192

Depreciation
As at 1 September 2025	21,849	48,862	70,711
Provided during the period	1,033	1,830	2,863

As at 31 August 2026	22,882	50,692	73,574

Net Book Value
As at 31 August 2026	4,129	5,489	9,618

As at 1 September 2025	5,162	7,319	12,481

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	9,304	7,271
Prepayments and accrued income	928	1,208
Other debtors	2,690	2,690
Other taxes and social security	2	203
Directors' loan accounts	25,326	28,246

	38,250	39,618

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Stephen Carlin Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2026

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	-	2,141
Trade creditors	1,529	1,346
Bank loans and overdrafts	-	4,167
Corporation tax	6,517	8,206
VAT	4,420	4,682
Accruals and deferred income	1,992	1,920

	14,458	22,462

7. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	2	2

8. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 September 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 August 2026
	£	£	£	£	£
Mr Stephen Carlin	14,123	17,240	(18,700 )	-	12,663
Mrs Angela Carlin	14,123	17,240	(18,700 )	-	12,663

The above loan is unsecured and repayable on demand. Interest of 3.75% p.a. is charged to the directors by the company.

9. Dividends

	2026	2025
	£	£
On equity shares:
Final dividend paid	28,300	15,100

Dividends of £25,400 were declared on 30 September 2026.

10. Ultimate Controlling Party

The company's ultimate controlling parties are Stephen Carlin and Angela Carlin by virtue of their ownership of 100% of the issued share capital in the company.

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