Company Registration Number 08857426 (England and Wales)
Superprop Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2023
Pages For Filing With Registrar
SUPERPROP LTD
Superprop Ltd
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2023
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The director presents his annual report and financial statements for the year ended 31 January 2023.

Principal activities

The principal activity continued to be that of the design and supply of specialist propulsion components and engineering consultation.

Development and performance

Superprop Ltd was formed with the initial express purpose of designing better propellers for the sailing fraternity. The owner of the company is a long distance sailor of some experience with degrees in mathematics and metallurgy from MIT in the USA. In order to protect the design from copying, several patents have been taken out and others are in the course of examination. These patents provide protection for all countries in the west where propellers are likely to be made or needed in significant quantities. Additional protection is provided for by the use of a unique and specialist casting process also developed by the company founder. The castings result in a lighter propeller with a reduced manufacturing cost.

 

One feature of the design is that it is modular thereby allowing many variations to be produced from a small stock of parts so that any propeller in the company’s range can delivered to a carrier within 24 hours of a finalised order.

Accordingly, the financial treatment of the cost of the protection process is considered to consider it as a very worthwhile asset with a reasonable lifetime of several years which will allow for the profit margin to be improved over what might be considered to be normal.

 

Limited initial production is expected to start later in 2023 after delays caused mainly by COVID-19.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr C W Shaw

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.

On behalf of the board
Mr C W Shaw
Director
16 November 2023
SUPERPROP LTD
Superprop Ltd
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
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2023
2022
£
£
£
£
Fixed assets
50,497
46,996
Current assets
40,442
17,557
Prepayments and accrued income
199
111
Creditors: amounts falling due within one year
(135,175)
(131,626)
Net current liabilities
(94,534)
(113,958)
Total assets less current liabilities
(44,037)
(66,962)
Creditors: amounts falling due after more than one year
(133,010)
(101,843)
Net liabilities
(177,047)
(168,805)
Capital and reserves
(177,047)
(168,805)
Notes to the financial statements
1
Employees

The average number of persons, including directors, employed by the company during the year was as follows:

2023
2022
Number
Number
Employees
1
1

Superprop Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Starfitts House, Kirby Moorside, York, YO62 7JF.

For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

 

 

SUPERPROP LTD
Superprop Ltd
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2023
31 January 2023
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The financial statements were approved and signed by the director and authorised for issue on 16 November 2023
Mr C W Shaw
Director
Company Registration Number 08857426
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