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REGISTERED NUMBER: 07017107 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Superior Machines Ltd

Superior Machines Ltd (Registered number: 07017107)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 8

Superior Machines Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: R C Theakston





REGISTERED OFFICE: Pluckham Farm
Fridaythorpe
Driffield
YO25 9SD





REGISTERED NUMBER: 07017107 (England and Wales)





ACCOUNTANTS: Kaye Middleton & Co
19 Railway Street
Pocklington
York
East Yorkshire
YO42 2QR

Superior Machines Ltd (Registered number: 07017107)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 886,133 679,384
886,134 679,385

CURRENT ASSETS
Stocks 98,800 94,260
Debtors 6 424,303 388,018
Cash at bank 192,327 232,845
715,430 715,123
CREDITORS
Amounts falling due within one year 7 235,325 278,445
NET CURRENT ASSETS 480,105 436,678
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,366,239

1,116,063

CREDITORS
Amounts falling due after more than one
year

8

(29,388

)

(7,069

)

PROVISIONS FOR LIABILITIES (28,849 ) (28,849 )
NET ASSETS 1,308,002 1,080,145

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,307,002 1,079,145
1,308,002 1,080,145

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

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

The director acknowledges his 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.

Superior Machines Ltd (Registered number: 07017107)

Statement of Financial Position - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 26 July 2024 and were signed by:





R C Theakston - Director


Superior Machines Ltd (Registered number: 07017107)

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


1. STATUTORY INFORMATION

Superior Machines Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Superior Machines Ltd (Registered number: 07017107)

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


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 16 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 274,999
AMORTISATION
At 1 November 2022
and 31 October 2023 274,998
NET BOOK VALUE
At 31 October 2023 1
At 31 October 2022 1

Superior Machines Ltd (Registered number: 07017107)

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


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 725,726 437,353 1,163,079
Additions 193,954 90,656 284,610
At 31 October 2023 919,680 528,009 1,447,689
DEPRECIATION
At 1 November 2022 215,831 267,864 483,695
Charge for year 36,112 41,749 77,861
At 31 October 2023 251,943 309,613 561,556
NET BOOK VALUE
At 31 October 2023 667,737 218,396 886,133
At 31 October 2022 509,895 169,489 679,384

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 13,749
DEPRECIATION
At 1 November 2022 3,438
Charge for year 2,578
At 31 October 2023 6,016
NET BOOK VALUE
At 31 October 2023 7,733
At 31 October 2022 10,311

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 242,765 266,292
Other debtors 181,538 121,726
424,303 388,018

Superior Machines Ltd (Registered number: 07017107)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 15,840 6,169
Hire purchase contracts 3,524 3,182
Trade creditors 54,510 89,251
Taxation and social security 101,901 93,157
Other creditors 59,550 86,686
235,325 278,445

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 25,835 -
Hire purchase contracts 3,553 7,069
29,388 7,069

Superior Machines Ltd

Report of the Accountants to the Director of
Superior Machines Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 October 2023 set out on pages one to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Kaye Middleton & Co
19 Railway Street
Pocklington
York
East Yorkshire
YO42 2QR


26 July 2024