Silverfin false false 31/10/2023 01/11/2022 31/10/2023 Carlotta Newbury 21/09/2021 Nicholas Newbury 21/09/2021 30 July 2024 no description of principal activity 13634853 2023-10-31 13634853 bus:Director1 2023-10-31 13634853 bus:Director2 2023-10-31 13634853 2022-10-31 13634853 core:CurrentFinancialInstruments 2023-10-31 13634853 core:CurrentFinancialInstruments 2022-10-31 13634853 core:ShareCapital 2023-10-31 13634853 core:ShareCapital 2022-10-31 13634853 core:RetainedEarningsAccumulatedLosses 2023-10-31 13634853 core:RetainedEarningsAccumulatedLosses 2022-10-31 13634853 core:PlantMachinery 2022-10-31 13634853 core:OfficeEquipment 2022-10-31 13634853 core:PlantMachinery 2023-10-31 13634853 core:OfficeEquipment 2023-10-31 13634853 2022-11-01 2023-10-31 13634853 bus:FilletedAccounts 2022-11-01 2023-10-31 13634853 bus:SmallEntities 2022-11-01 2023-10-31 13634853 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 13634853 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 13634853 bus:Director1 2022-11-01 2023-10-31 13634853 bus:Director2 2022-11-01 2023-10-31 13634853 core:PlantMachinery core:TopRangeValue 2022-11-01 2023-10-31 13634853 core:OfficeEquipment core:TopRangeValue 2022-11-01 2023-10-31 13634853 2021-11-01 2022-10-31 13634853 core:PlantMachinery 2022-11-01 2023-10-31 13634853 core:OfficeEquipment 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Company No: 13634853 (England and Wales)

NORFOLK SUPERHERO CHALLENGE LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

NORFOLK SUPERHERO CHALLENGE LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

NORFOLK SUPERHERO CHALLENGE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2023
NORFOLK SUPERHERO CHALLENGE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2023
Note 31.10.2023 31.10.2022
£ £
Fixed assets
Tangible assets 3 25,413 0
25,413 0
Current assets
Cash at bank and in hand 10,229 55,397
10,229 55,397
Creditors: amounts falling due within one year 4 ( 6,130) ( 39,188)
Net current assets 4,099 16,209
Total assets less current liabilities 29,512 16,209
Net assets 29,512 16,209
Capital and reserves
Called-up share capital 2 2
Profit and loss account 29,510 16,207
Total shareholders' funds 29,512 16,209

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Norfolk Superhero Challenge Limited (registered number: 13634853) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Nicholas Newbury
Director

30 July 2024

NORFOLK SUPERHERO CHALLENGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
NORFOLK SUPERHERO CHALLENGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Norfolk Superhero Challenge Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Bale Hall Barn Field Dalling Road, Bale, Fakenham, NR21 0QS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

31.10.2023 31.10.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 November 2022 0 0 0
Additions 23,710 4,108 27,818
At 31 October 2023 23,710 4,108 27,818
Accumulated depreciation
At 01 November 2022 0 0 0
Charge for the financial year 2,179 226 2,405
At 31 October 2023 2,179 226 2,405
Net book value
At 31 October 2023 21,531 3,882 25,413
At 31 October 2022 0 0 0

4. Creditors: amounts falling due within one year

31.10.2023 31.10.2022
£ £
Other taxation and social security 166 1,231
Other creditors 5,964 37,957
6,130 39,188

5. Related party transactions

Transactions with the entity's directors

31.10.2023 31.10.2022
£ £
Amounts owed from/(to) directors 270 (1,906)

At the year end, the directors owed the company an amount of £270 (2022: £1,906 owed to the directors). This amount was repaid in full in November 2023.