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Registered Number: 07589183
England and Wales

 

 

 

SUPREME CLASS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 63,279    57,886 
63,279    57,886 
Current assets      
Debtors: amounts falling due within one year 72,357    50,948 
Debtors: amounts falling due after one year 35,000   
Cash at bank and in hand 198    1,982 
107,555    52,930 
Creditors: amount falling due within one year (94,523)   (109,730)
Net current assets 13,032    (56,800)
 
Total assets less current liabilities 76,311    1,086 
Creditors: amount falling due after more than one year (16,692)   51,023 
Provisions for liabilities 52    52 
Net assets 59,671    52,161 
 

Capital and reserves
     
Called up share capital 120    120 
Profit and loss account 59,551    52,041 
Shareholder's funds 59,671    52,161 
 


For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 02 October 2023 and were signed by:


-------------------------------
Isaac Darkwa
Director
1
General Information
Supreme Class Limited is a private company, limited by shares, registered in England and Wales, registration number 07589183, registration address Falcon House, 19 Deer Park Road, London, SW19 3XU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 7 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 May 2022 27,843    1,000    38,253    29,526    6,731    103,353 
Additions     13,421        13,421 
Disposals          
At 30 April 2023 27,843    1,000    51,674    29,526    6,731    116,774 
Depreciation
At 01 May 2022 6,686    1,000    13,176    21,309    3,296    45,467 
Charge for year     5,930    1,479    619    8,028 
On disposals          
At 30 April 2023 6,686    1,000    19,106    22,788    3,915    53,495 
Net book values
Closing balance as at 30 April 2023 21,157      32,568    6,738    2,816    63,279 
Opening balance as at 01 May 2022 21,157      25,077    8,217    3,435    57,886 

The net book value of Motor Vehicles includes £ 19,552 (2022 £23,844) in respect of assets leased under finance leases or hire purchase contracts.

2