Registered number
00337255
SUPREME DISTRIBUTING COMPANY LIMITED
Unaudited Filleted Accounts
28 February 2023
API Partnership Ltd t/a Chandler & Georges
Chartered Accountants
75 Westow Hill
SE19 1TX
Ph: 0208 761 2213
Web. www.cgca.co.uk
SUPREME DISTRIBUTING COMPANY LIMITED
Registered number: 00337255
Statement of financial position
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 790,480 801,055
Investments 4 508,266 556,340
1,298,746 1,357,395
Current assets
Stocks 2,676 3,851
Debtors 5 10,073 13,322
Cash at bank and in hand 21,353 34,163
34,102 51,336
Creditors: amounts falling due within one year 6 (48,662) (52,110)
Net current liabilities (14,560) (774)
Total assets less current liabilities 1,284,186 1,356,621
Creditors: amounts falling due after more than one year 7 (5,000) (5,000)
Provisions for liabilities (87,896) (97,030)
Net assets 1,191,290 1,254,591
Capital and reserves
Called up share capital 3,212 3,212
Revaluation reserve 8 989,498 989,498
Profit and loss account 198,580 261,881
Shareholders' funds 1,191,290 1,254,591
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.
Mr V Jobanputra
Director
Approved by the board on 23 November 2023
SUPREME DISTRIBUTING COMPANY LIMITED
Notes to the financial statements
for the year ended 28 February 2023
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Government grants
Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed.

During the year the company benefited from receipts from the UK Government under the Coronavirus Job Retention Scheme (CJRS).

The company also benefited from Business Rates Relief.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2022 909,510 9,251 918,761
Additions 5,558 - 5,558
At 28 February 2023 915,068 9,251 924,319
Depreciation
At 1 March 2022 108,455 9,251 117,706
Charge for the year 16,133 - 16,133
At 28 February 2023 124,588 9,251 133,839
Net book value
At 28 February 2023 790,480 - 790,480
At 28 February 2022 801,055 - 801,055
4 Investments
Other
investments
£
Cost
At 1 March 2022 556,340
Additions (48,074)
At 28 February 2023 508,266
5 Debtors 2023 2022
£ £
Trade debtors 606 4,431
Other debtors 9,467 8,891
10,073 13,322
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,770 554
Corporation tax - 6,698
Other taxes and social security costs 608 950
Other creditors 45,284 43,908
48,662 52,110
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 5,000 5,000
8 Revaluation reserve 2023 2022
£ £
At 1 March 2022 989,498 989,498
At 28 February 2023 989,498 989,498
9 Controlling party
The company is controlled equally by C Jobanputra & V Jobanputra.
10 Other information
SUPREME DISTRIBUTING COMPANY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
75 Westow Hill
Crystal Palace
London
SE19 1TX
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