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REGISTERED NUMBER: SC424639 (Scotland)















Abridged Financial Statements for the Year Ended 31 May 2023

for

Supernature Oils Limited

Supernature Oils Limited (Registered number: SC424639)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


Supernature Oils Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: C J W Mann
Mrs L B Mann





REGISTERED OFFICE: Carrington Barns
Gorebridge
Midlothian
EH23 4LN





REGISTERED NUMBER: SC424639 (Scotland)





ACCOUNTANTS: Gibson McKerrell Brown LLP
Chartered Accountants
14 Rutland Square
Edinburgh
Midlothian
EH1 2BD

Supernature Oils Limited (Registered number: SC424639)

Abridged Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,622 7,503

CURRENT ASSETS
Stocks 84,229 66,762
Debtors 18,898 21,269
Cash at bank and in hand 64,106 34,592
167,233 122,623
CREDITORS
Amounts falling due within one year 159,923 126,340
NET CURRENT ASSETS/(LIABILITIES) 7,310 (3,717 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,932

3,786

PROVISIONS FOR LIABILITIES 5 4,298 1,426
NET ASSETS 25,634 2,360

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 25,534 2,260
SHAREHOLDERS' FUNDS 25,634 2,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





C J W Mann - Director


Supernature Oils Limited (Registered number: SC424639)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Supernature Oils Limited is a private company, limited by shares , registered in Scotland. 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.

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 attributable to the company's principal activity of the sale and marketing of hand-bottled cold pressed rapeseed oils.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Improvements to property 10%Straight line
Equipment 25%Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stock has been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and payables, loans from banks and other third
parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the
Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the
impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount
does not exceed what the carrying amount would have been had the impairment not previously been recognised.
The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire
or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to
another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities
are derecognised when the liability is extinguished, that is when the contractual obligation is discharged,
cancelled or expires.


Supernature Oils Limited (Registered number: SC424639)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 41,031
Additions 24,390
At 31 May 2023 65,421
DEPRECIATION
At 1 June 2022 33,528
Charge for year 9,271
At 31 May 2023 42,799
NET BOOK VALUE
At 31 May 2023 22,622
At 31 May 2022 7,503

5. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 4,298 1,426

Deferred
tax
£   
Balance at 1 June 2022 1,426
Charge to Income Statement during year 2,872
Balance at 31 May 2023 4,298

Supernature Oils Limited (Registered number: SC424639)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
C J W Mann and Mrs L B Mann
Balance outstanding at start of year (56,211 ) (46,292 )
Amounts advanced 51,697 40,081
Amounts repaid (45,000 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (49,514 ) (56,211 )

The directors' loan has no set repayment period.

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £44,000 (2022 - £49,000) were paid to the directors .

During the year the company traded with JC & H Wallace Mann, a farming business operated by CW Mann, director. At the year end there were no amounts outstanding either to or from JC & H Wallace Mann.