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REGISTERED NUMBER: 02546640 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

SUPERMARINE AERO ENGINEERING LIMITED

SUPERMARINE AERO ENGINEERING LIMITED (REGISTERED NUMBER: 02546640)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUPERMARINE AERO ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: Mr M Harris





REGISTERED OFFICE: Mitchell Works
Steventon Place
Burslem
Stoke On Trent
Staffordshire
ST6 4AS





REGISTERED NUMBER: 02546640 (England and Wales)





ACCOUNTANTS: Christian Douglass Accountants Limited
Chartered Accountants
2 Jordan Street
Knott Mill
Manchester
M15 4PY

SUPERMARINE AERO ENGINEERING LIMITED (REGISTERED NUMBER: 02546640)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 812 1,187
Tangible assets 5 100,390 137,663
101,202 138,850

CURRENT ASSETS
Stocks 275,877 242,348
Debtors 6 124,200 142,412
Cash at bank 318,420 209,081
718,497 593,841
CREDITORS
Amounts falling due within one year 7 123,116 137,508
NET CURRENT ASSETS 595,381 456,333
TOTAL ASSETS LESS CURRENT
LIABILITIES

696,583

595,183

CREDITORS
Amounts falling due after more than one year 8 (75,739 ) (101,694 )

PROVISIONS FOR LIABILITIES (25,074 ) (26,134 )
NET ASSETS 595,770 467,355

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 595,768 467,353
SHAREHOLDERS' FUNDS 595,770 467,355

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.

SUPERMARINE AERO ENGINEERING LIMITED (REGISTERED NUMBER: 02546640)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





Mr M Harris - Director


SUPERMARINE AERO ENGINEERING LIMITED (REGISTERED NUMBER: 02546640)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Supermarine Aero Engineering Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02546640 and its registered office is at Mitchell Works, Steventon Place, Burslem, Stoke On Trent, Staffordshire, ST6 4AS.

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 represents the amount derived from ordinary activities, and is stated after trade discounts, other sales tax and value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. In respect of the latter, turnover represents a proportion of total expected contract revenue, calculated to match the same proportion of total expected costs incurred as at the balance sheet date.

The directors are required to apply judgement in assessing turnover and arriving at the relevant proportions to be accounted for in any period. The key area of estimation uncertainty involves the costs to be incurred to the conclusion of the contract. Factors taken into account in reaching their decision include the actual outturn of previous assignments and job by job appraisal of performance to date together with future expectations.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

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.
Plant and machinery etc - 25% on cost and 20% on cost

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

SUPERMARINE AERO ENGINEERING LIMITED (REGISTERED NUMBER: 02546640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2022
and 31 October 2023 1,500
AMORTISATION
At 1 November 2022 313
Charge for year 375
At 31 October 2023 688
NET BOOK VALUE
At 31 October 2023 812
At 31 October 2022 1,187

SUPERMARINE AERO ENGINEERING LIMITED (REGISTERED NUMBER: 02546640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 220,201
DEPRECIATION
At 1 November 2022 82,538
Charge for year 37,273
At 31 October 2023 119,811
NET BOOK VALUE
At 31 October 2023 100,390
At 31 October 2022 137,663

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 156,000
DEPRECIATION
At 1 November 2022 39,000
Charge for year 31,200
At 31 October 2023 70,200
NET BOOK VALUE
At 31 October 2023 85,800
At 31 October 2022 117,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 119,249 76,387
Other debtors 4,951 66,025
124,200 142,412

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 25,954 24,814
Trade creditors 11,469 30,464
Taxation and social security 24,613 25,952
Other creditors 61,080 56,278
123,116 137,508

SUPERMARINE AERO ENGINEERING LIMITED (REGISTERED NUMBER: 02546640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 75,739 101,694

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts 101,693 126,508

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Harris.