Registered number
12256672
Super Polo Plus Limited
Filleted Accounts
31 October 2022
Super Polo Plus Limited
Registered number: 12256672
Balance Sheet
as at 31 October 2022
Notes 2022 2021
£ £
Current assets
Stocks 119,568 120,491
Cash at bank and in hand 3,302 1,518
122,870 122,009
Creditors: amounts falling due within one year 3 (123,701) (121,426)
Net current (liabilities)/assets (831) 583
Total assets less current liabilities (831) 583
Net (liabilities)/assets (831) 583
Capital and reserves
Called up share capital 100 100
Profit and loss account (931) 483
Shareholders' funds (831) 583
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kamil Ali
Director
Approved by the board on 11 October 2023
Super Polo Plus Limited
Notes to the Accounts
for the year ended 31 October 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 19 20
3 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts - 83,152
Trade creditors 12,761 13,123
Taxation and social security costs 23,101 20,006
Other creditors 87,839 5,145
123,701 121,426
Super Polo Plus Limited 12256672 false 2021-11-01 2022-10-31 2022-10-31 VT Final Accounts April 2022 Kamil Ali No description of principal activity 12256672 2020-11-01 2021-10-31 12256672 core:WithinOneYear 2021-10-31 12256672 core:ShareCapital 2021-10-31 12256672 core:RetainedEarningsAccumulatedLosses 2021-10-31 12256672 2021-11-01 2022-10-31 12256672 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 12256672 bus:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 12256672 bus:Director40 2021-11-01 2022-10-31 12256672 2 2021-11-01 2022-10-31 12256672 bus:FRS102 2021-11-01 2022-10-31 12256672 bus:FullAccounts 2021-11-01 2022-10-31 12256672 2022-10-31 12256672 core:WithinOneYear 2022-10-31 12256672 core:ShareCapital 2022-10-31 12256672 core:RetainedEarningsAccumulatedLosses 2022-10-31 12256672 2021-10-31 iso4217:GBP xbrli:pure