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REGISTERED NUMBER: 07876909 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Superior Fix Limited

Superior Fix Limited (Registered number: 07876909)

Contents of the Financial Statements
for the Year Ended 31 December 2021










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Certified Accountant's Report 9

Superior Fix Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: T J Frew





REGISTERED OFFICE: Unit B
Long Rock Industrial Estate
Penzance
Cornwall
TR20 8HX





REGISTERED NUMBER: 07876909 (England and Wales)





ACCOUNTANT: Martin Laity Accounting & Tax Practitioner
Kelyn
Old Hill
Helston
Cornwall
TR13 8HT

Superior Fix Limited (Registered number: 07876909)

Statement of Financial Position
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,242 29,134

CURRENT ASSETS
Stocks 5 4,000 4,000
Debtors 6 57,756 57,945
Cash at bank and in hand 30,693 17,732
92,449 79,677
CREDITORS
Amounts falling due within one year 7 81,358 76,041
NET CURRENT ASSETS 11,091 3,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,333

32,770

CREDITORS
Amounts falling due after more than one
year

8

(34,167

)

(27,000

)

PROVISIONS FOR LIABILITIES (5,556 ) (5,535 )
NET ASSETS 610 235

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 510 135
SHAREHOLDERS' FUNDS 610 235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Superior Fix Limited (Registered number: 07876909)

Statement of Financial Position - continued
31 December 2021


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 13 September 2022 and were signed by:





T J Frew - Director


Superior Fix Limited (Registered number: 07876909)

Notes to the Financial Statements
for the Year Ended 31 December 2021


1. STATUTORY INFORMATION

Superior Fix 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The global economy continues to be adversely affected by the Covid 19 pandemic. The imposed lockdown restrictions have had a negative impact across a wide variety of sectors. The construction industry has been impacted but not as seriously as other sectors. Working within the limitations of social distancing measures was challenging but has since eased for on site activities etc.

The Director has reasonable expectations that the company will be able to fulfil projects as the economy opens up and returns to more normal trading conditions.

The Director has accessed Government support initiatives, such as the Coronavirus Job Retention Scheme (CJRS), where reduced capacity and demand affected the trade. The company has also utilised the availabilty of Bounce Back Loans scheme.

Therefore, the Director believes the adoption of the going concern basis of accounting is still appropriate in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised upon invoice for goods and services, except in circumstances where the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Moulds - 50% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.


Superior Fix Limited (Registered number: 07876909)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Grants
Grant funds, such as the Coronavirus Job Retention Scheme (CJRS), are recognised in the Profit and Loss Account upon receipt for the period for which they are claimed and matched against the relevant employee costs for the same period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 9 ) .

Superior Fix Limited (Registered number: 07876909)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
Moulds machinery fittings
£    £    £   
COST
At 1 January 2021 20,130 62,883 152
Additions 3,820 12,382 736
At 31 December 2021 23,950 75,265 888
DEPRECIATION
At 1 January 2021 15,012 43,020 73
Charge for year 7,028 8,061 122
At 31 December 2021 22,040 51,081 195
NET BOOK VALUE
At 31 December 2021 1,910 24,184 693
At 31 December 2020 5,118 19,863 79

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2021 16,139 11,188 110,492
Additions - - 16,938
At 31 December 2021 16,139 11,188 127,430
DEPRECIATION
At 1 January 2021 14,464 8,789 81,358
Charge for year 419 1,200 16,830
At 31 December 2021 14,883 9,989 98,188
NET BOOK VALUE
At 31 December 2021 1,256 1,199 29,242
At 31 December 2020 1,675 2,399 29,134

5. STOCKS
2021 2020
£    £   
Stocks 4,000 4,000

Superior Fix Limited (Registered number: 07876909)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 38,998 52,307
Other debtors 2,700 5,376
Directors' current accounts 8,746 -
Prepayments 7,312 262
57,756 57,945

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 10,000 3,000
Trade creditors 26,885 16,745
Tax 3,240 2,775
Social security and other taxes 10,819 14,809
VAT 20,530 28,770
Other creditors 8,134 8,116
Directors' current accounts - 76
Accrued expenses 1,750 1,750
81,358 76,041

The Directors Loan Account balance included within other creditors is non-interest bearing and repayable upon demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Loans - 1-2 years 10,000 6,000
Bank loans - 2-5 years 24,167 18,000
Bank loans more 5 yr by instal - 3,000
34,167 27,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 3,000

Superior Fix Limited (Registered number: 07876909)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
T J Frew
Balance outstanding at start of year - -
Amounts advanced 8,746 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,746 -

The main conditions regarding advances and credits were that sums were to be repaid to the company as soon as possible and any overdrawn balance at a month end in excess of £10,000 would incur interest at the official rate of interest. The official rate of interest during the year was 2.25% / 2.00% for the year.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 (2020 - £5,300) were paid to the director .

At the balance sheet date the company was owed £8,746 by the director. This was the balance on his director's current account and is disclosed within other debtors.

11. ULTIMATE CONTROLLING PARTY

The controlling party is T J Frew.

Chartered Certified Accountant's Report to the Director
on the Unaudited Financial Statements of
Superior Fix Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Superior Fix Limited for the year ended 31 December 2021 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Superior Fix Limited in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Superior Fix Limited and state those matters that I have agreed to state to the director of Superior Fix Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report.

It is your duty to ensure that Superior Fix Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Superior Fix Limited. You consider that Superior Fix Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Superior Fix Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Martin Laity Accounting & Tax Practitioner
Kelyn
Old Hill
Helston
Cornwall
TR13 8HT


14 September 2022