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REGISTERED NUMBER: SC276462 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Superasia Ltd.

Superasia Ltd. (Registered number: SC276462)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Superasia Ltd.

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M Javed
Mrs K Javed





REGISTERED OFFICE: 3 Maxwell Road
Glasgow
G41 1QE





REGISTERED NUMBER: SC276462 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

Superasia Ltd. (Registered number: SC276462)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 235 235
Tangible assets 5 195,918 76,859
196,153 77,094

CURRENT ASSETS
Stocks 6 134,421 153,583
Debtors 7 46,907 43,306
Cash at bank and in hand 46,404 108,998
227,732 305,887
CREDITORS
Amounts falling due within one year 8 114,442 106,329
NET CURRENT ASSETS 113,290 199,558
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,443

276,652

CREDITORS
Amounts falling due after more than one
year

9

14,114

24,167
NET ASSETS 295,329 252,485

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 295,229 252,385
SHAREHOLDERS' FUNDS 295,329 252,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Superasia Ltd. (Registered number: SC276462)

Balance Sheet - continued
31 January 2024


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 Board of Directors and authorised for issue on 29 May 2024 and were signed on its behalf by:





M Javed - Director


Superasia Ltd. (Registered number: SC276462)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Superasia Ltd. is a private company, limited by shares , registered in Scotland. 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.

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.

Formation expenses are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Superasia Ltd. (Registered number: SC276462)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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 27 (2023 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Formation
expenses
£   
COST
At 1 February 2023
and 31 January 2024 235
NET BOOK VALUE
At 31 January 2024 235
At 31 January 2023 235

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 14,308 181,978 9,944 6,525 212,755
Additions 107,000 4,247 20,000 - 131,247
At 31 January 2024 121,308 186,225 29,944 6,525 344,002
DEPRECIATION
At 1 February 2023 - 122,814 9,944 3,138 135,896
Charge for year - 6,341 5,000 847 12,188
At 31 January 2024 - 129,155 14,944 3,985 148,084
NET BOOK VALUE
At 31 January 2024 121,308 57,070 15,000 2,540 195,918
At 31 January 2023 14,308 59,164 - 3,387 76,859

Superasia Ltd. (Registered number: SC276462)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. STOCKS
31.1.24 31.1.23
£    £   
Stocks 134,421 153,583

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Factors Float 200 200
Prepaid Charges 6,633 6,461
Loan - Rockfield Property
Investments Ltd 35,350 35,350
VAT 4,724 1,295
46,907 43,306

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts (see note 10) 12,754 10,000
Other loans (see note 10) 11,000 22,000
Creditors & Accrued Charges 62,468 60,768
Amex Credit Card 4,943 617
Capital on tap 1,354 639
Corporation tax 7,221 1,815
Social security and other taxes 4,853 4,085
Directors' current accounts 9,849 6,405
114,442 106,329

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 10) 14,114 24,167

10. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 2,754 -
Bank loans 10,000 10,000
Loan - A Akhtar 11,000 11,000
Loan - Z Akhtar - 11,000
23,754 32,000

Superasia Ltd. (Registered number: SC276462)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. LOANS - continued
31.1.24 31.1.23
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 4,114 14,167

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary Share Capital £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 February 2023 252,385
Profit for the year 42,844
At 31 January 2024 295,229

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs K Javed.

The ultimate controlling party is M Javed.