Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302023-11-302022-12-01falseConstructionfalsefalsefalse 11609569 2022-12-01 2023-11-30 11609569 2021-12-01 2022-11-30 11609569 2023-11-30 11609569 2022-11-30 11609569 2021-12-01 11609569 1 2022-12-01 2023-11-30 11609569 d:CompanySecretary1 2022-12-01 2023-11-30 11609569 d:Director1 2022-12-01 2023-11-30 11609569 d:Director2 2022-12-01 2023-11-30 11609569 d:RegisteredOffice 2022-12-01 2023-11-30 11609569 d:Agent1 2022-12-01 2023-11-30 11609569 c:PlantMachinery 2022-12-01 2023-11-30 11609569 c:MotorVehicles 2022-12-01 2023-11-30 11609569 c:FurnitureFittings 2022-12-01 2023-11-30 11609569 c:CurrentFinancialInstruments 2023-11-30 11609569 c:CurrentFinancialInstruments 2022-11-30 11609569 c:CurrentFinancialInstruments c:WithinOneYear 2023-11-30 11609569 c:CurrentFinancialInstruments c:WithinOneYear 2022-11-30 11609569 c:ShareCapital 2023-11-30 11609569 c:ShareCapital 2022-11-30 11609569 c:ShareCapital 2021-12-01 11609569 c:SharePremium 2023-11-30 11609569 c:SharePremium 2022-11-30 11609569 c:SharePremium 2021-12-01 11609569 c:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 11609569 c:RetainedEarningsAccumulatedLosses 2023-11-30 11609569 c:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 11609569 c:RetainedEarningsAccumulatedLosses 2022-11-30 11609569 c:RetainedEarningsAccumulatedLosses 2021-12-01 11609569 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-11-30 11609569 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-11-30 11609569 c:FinancialLiabilitiesFairValueThroughProfitOrLoss c:ListedExchangeTraded 2023-11-30 11609569 c:FinancialLiabilitiesFairValueThroughProfitOrLoss c:ListedExchangeTraded 2022-11-30 11609569 d:OrdinaryShareClass1 2022-12-01 2023-11-30 11609569 d:OrdinaryShareClass1 2023-11-30 11609569 d:OrdinaryShareClass1 2022-11-30 11609569 d:FRS102 2022-12-01 2023-11-30 11609569 d:Audited 2022-12-01 2023-11-30 11609569 d:FullAccounts 2022-12-01 2023-11-30 11609569 d:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11609569 c:Subsidiary1 2022-12-01 2023-11-30 11609569 c:Subsidiary1 1 2022-12-01 2023-11-30 11609569 c:Subsidiary2 2022-12-01 2023-11-30 11609569 c:Subsidiary2 1 2022-12-01 2023-11-30 11609569 d:Consolidated 2023-11-30 11609569 d:ConsolidatedGroupCompanyAccounts 2022-12-01 2023-11-30 11609569 2 2022-12-01 2023-11-30 11609569 6 2022-12-01 2023-11-30 11609569 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11609569









SUPER SUCCESSFUL LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
SUPER SUCCESSFUL LIMITED
 

CONTENTS



Page
Company Information
 
1
Group Strategic Report
 
2
Directors' Report
 
3 - 4
Independent Auditors' Report
 
5 - 8
Consolidated Profit and Loss Account
 
9
Consolidated Statement of Comprehensive Income
 
10
Consolidated Balance Sheet
 
11
Company Balance Sheet
 
12
Consolidated Statement of Changes in Equity
 
13
Company Statement of Changes in Equity
 
14
Consolidated Statement of Cash Flows
 
15
Notes to the Financial Statements
 
16 - 33


 
SUPER SUCCESSFUL LIMITED
 
 
COMPANY INFORMATION


DIRECTORS
Kevin Conneely 
Paul Conneely 




COMPANY SECRETARY
Kevin Conneely



REGISTERED NUMBER
11609569



REGISTERED OFFICE
110 Warwick Avenue
Edgware

Middlesex

United Kingdom

HA8 8UJ




INDEPENDENT AUDITORS
Crowe Ireland
Chartered Accountants and Statutory Audit Firm

40 Mespil Road

Dublin 4

D04 C2N4




BANKERS
NatWest
317 Hale Lane

Edgware

Middlesex

HA87AX




SOLICITORS
Plunkett Kirwan & Co Solicitors
175 Howth Road

Clontarf East

Dublin 3




Page 1

 
SUPER SUCCESSFUL LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023

INTRODUCTION
 
The Directors present their strategic report for the year ended 30 November 2023.

BUSINESS REVIEW
 
The Directors are satisfied with the Group's performance during the year.
At the end of the year the Group has assets of £6,352,522 (2022: £6,319,436) and liabilities of £1,282,201 (2022:
£1,546,311). The net assets of the Group are £5,070,321 (2022: £4,773,125). The Directors are satisfied with the level of retained reserves at the year end.
The Directors are not expecting to make any significant changes in the nature of the business in the near future.

PRINCIPAL RISKS AND UNCERTAINTIES
 
The Directors are responsible for the system of internal controls and for reviewing its effectiveness. The internal control system is designed to manage, rather than eliminate the risk of failure to achieve the Group's business objectives and can only provide reasonable and not absolute assurance against material misstatement or loss.

FINANCIAL KEY PERFORMANCE INDICATORS
 
The Directors have decided to use both financial and non-financial key performance indicators to manage the Group. The Group has developed a strong management information function focused on regular and accurate reporting. The key performance indicators during the period and at period end are as follows:
ole755e.png

NON-FINANCIAL KEY PERFORMANCE INDICATORS
 
The Group considers the expansion of its customer base and client wins to be its primary non-financial key performance indicators.


This report was approved by the board and signed on its behalf.



Kevin Conneely
Director

Date: 28 August 2024

Page 2

 
SUPER SUCCESSFUL LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023

The Directors present their report and the financial statements for the year ended 30 November 2023.

DIRECTORS' RESPONSIBILITIES STATEMENT

The Directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the Directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The Directors confirm that they have complied with the above requirements in preparing the financial statements.
 
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £387,196 (2022 - £198,604).

The Directors have declared and paid an interim dividend of £90,000 (2022: £90,000)

DIRECTORS

The Directors who served during the year were:

Kevin Conneely 
Paul Conneely 

GROUP STRUCTURE

Details concerning subsidiary undertakings are set out in note 13 of the financial statements. 

Page 3

 
SUPER SUCCESSFUL LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the Director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

POST BALANCE SHEET EVENTS

There have been no significant events affecting the Group since the year end.

AUDITORS

The auditorsCrowe Irelandwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





Kevin Conneely
Director

Date: 28 August 2024

Page 4

 
SUPER SUCCESSFUL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SUPER SUCCESSFUL LIMITED
 

OPINION


We have audited the financial statements of Super Successful Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 November 2023, which comprise the Group Profit and Loss Account, the Group Statement of Comprehensive Income, the Group Balance Sheet, the Company Balance Sheet, the Group Statement of Cash Flows, the Group Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 30 November 2023 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


CONCLUSIONS RELATING TO GOING CONCERN


In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.


Page 5

 
SUPER SUCCESSFUL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SUPER SUCCESSFUL LIMITED (CONTINUED)


OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Page 6

 
SUPER SUCCESSFUL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SUPER SUCCESSFUL LIMITED (CONTINUED)


RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the Directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• carrying out substantive checking to supporting documents on a sample basis of individual transactions within income and expenditure to give comfort that on a sample basis the Company does not contain irregular items;
• verifying that material balances within the Balance Sheet are supported by third party evidence to confirm the
existence and valuation of these balances at the Balance Sheet date;
• enquiring of management and those charged with governance;
• reviewing financial statement disclosures and testing to supporting documentation to assess compliance; and
• performing audit work over the risk of management override of controls, including testing of journal entries and
other adjustments for appropriateness, evaluating the Company rationale of significant transactions outside the
normal course of business and reviewing accounting estimates for bias. 


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 7

 
SUPER SUCCESSFUL LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SUPER SUCCESSFUL LIMITED (CONTINUED)


USE OF OUR REPORT
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





George Kennington (Senior Statutory Auditor)
for and on behalf of
Crowe Ireland
Chartered Accountants and Statutory Audit Firm
40 Mespil Road
Dublin 4
D04 C2N4

29 August 2024
Page 8

 
SUPER SUCCESSFUL LIMITED
 
 
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Turnover
 4 
11,321,564
10,167,898

Cost of sales
  
(10,266,147)
(9,243,511)

Gross profit
  
1,055,417
924,387

Administrative expenses
  
(676,342)
(641,225)

Fair value movements
  
15,425
(84,691)

Operating profit
 5 
394,500
198,471

Interest receivable and similar income
 9 
8,414
1,101

Profit before tax
  
402,914
199,572

Tax on profit
 10 
(15,718)
(968)

Profit for the financial year
  
387,196
198,604

Profit for the year attributable to:
  

Owners of the parent
  
387,196
198,604

  
387,196
198,604

The notes on pages 16 to 33 form part of these financial statements.

Page 9

 
SUPER SUCCESSFUL LIMITED
 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023
2022
Note
£
£


Profit for the financial year
  
387,196
198,604

TOTAL COMPREHENSIVE INCOME FOR FINANCIAL YEAR
  
387,196
198,604

PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO:
  


Owners of the parent Company
  
387,196
198,604

  
387,196
198,604

TOTAL COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ATTRIBUTABLE TO:
  


Owners of the parent Company
  
387,196
198,604

  
387,196
198,604

The notes on pages 16 to 33 form part of these financial statements.

Page 10

 
SUPER SUCCESSFUL LIMITED
REGISTERED NUMBER: 11609569

CONSOLIDATED BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 12 
528,754
655,916

Investments
 13 
439,691
424,266

Investment property
 14 
796,733
797,839

  
1,765,178
1,878,021

Current assets
  

Stocks
 15 
1,956,573
1,639,482

Debtors: amounts falling due within one year
 16 
1,095,749
1,399,145

Cash at bank and in hand
 17 
1,535,022
1,402,788

  
4,587,344
4,441,415

Creditors: amounts falling due within one year
 18 
(1,177,824)
(1,436,952)

Net current assets
  
 
 
3,409,520
 
 
3,004,463

Total assets less current liabilities
  
5,174,698
4,882,484

Provisions for liabilities
  

Deferred taxation
 20 
(104,377)
(109,359)

  
 
 
(104,377)
 
 
(109,359)

Net assets
  
5,070,321
4,773,125


Capital and reserves
  

Called up share capital 
 21 
102
102

Share premium account
  
2,842,102
2,842,102

Profit and loss account
  
2,228,117
1,930,921

Equity attributable to owners of the parent Company
  
5,070,321
4,773,125

  
5,070,321
4,773,125


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Kevin Conneely
Paul Conneely
Director
Director


Date: 28 August 2024
Date:29 August 2024

Page 11

 
SUPER SUCCESSFUL LIMITED
REGISTERED NUMBER: 11609569

COMPANY BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 13 
4,113,947
4,099,678

  
4,113,947
4,099,678

Current assets
  

Debtors: amounts falling due within one year
 16 
1
1

Cash at bank and in hand
 17 
734,575
726,161

  
734,576
726,162

Creditors: amounts falling due within one year
 18 
(4,446)
(1,079)

Net current assets
  
 
 
730,130
 
 
725,083

  

  

Net assets
  
4,844,077
4,824,761


Capital and reserves
  

Called up share capital 
 21 
102
102

Share premium account
  
2,842,102
2,842,102

Profit and loss account brought forward
  
1,982,557
2,054,557

Profit for the year
  
109,316
18,000

Other changes in the profit and loss account

  

(90,000)
(90,000)

Profit and loss account carried forward
  
2,001,873
1,982,557

Shareholders funds
  
4,844,077
4,824,761


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Kevin Conneely
Paul Conneely
Director
Director


Date: 28 August 2024
Date:29 August 2024

The notes on pages 16 to 33 form part of these financial statements.

Page 12

 
SUPER SUCCESSFUL LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Equity attributable to owners of parent Company
Total equity

£
£
£
£
£

At 1 December 2022
102
2,842,102
1,930,921
4,773,125
4,773,125


Comprehensive income for the year

Profit for the year
-
-
387,196
387,196
387,196

Dividends: Equity capital
-
-
(90,000)
(90,000)
(90,000)


At 30 November 2023
102
2,842,102
2,228,117
5,070,321
5,070,321



CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022


Called up share capital
Share premium account
Profit and loss account
Equity attributable to owners of parent Company
Total equity

£
£
£
£
£

At 1 December 2021
102
2,842,102
1,822,317
4,664,521
4,664,521


Comprehensive income for the year

Profit for the year
-
-
198,604
198,604
198,604

Dividends: Equity capital
-
-
(90,000)
(90,000)
(90,000)


At 30 November 2022
102
2,842,102
1,930,921
4,773,125
4,773,125


Page 13

 
SUPER SUCCESSFUL LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 December 2022
102
2,842,102
1,982,557
4,824,761


Comprehensive income for the year

Profit for the year
-
-
109,316
109,316

Dividends: Equity capital
-
-
(90,000)
(90,000)


At 30 November 2023
102
2,842,102
2,001,873
4,844,077



COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 December 2021
102
2,842,102
2,054,557
4,896,761


Comprehensive income for the year

Profit for the year
-
-
18,000
18,000

Dividends: Equity capital
-
-
(90,000)
(90,000)


At 30 November 2022
102
2,842,102
1,982,557
4,824,761


Page 14

 
SUPER SUCCESSFUL LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
387,196
198,604

Adjustments for:

Depreciation of tangible assets
122,906
133,110

(Profit)/loss on disposal of tangible assets
(3,217)
21,686

Interest receivable
(8,414)
(1,101)

Taxation charge
15,718
968

(Increase) in stocks
(317,091)
(641,002)

Decrease/(increase) in debtors
305,963
(43,895)

(Decrease)/increase in creditors
(260,741)
438,431

Net fair value (gains)/losses recognised in P&L
(15,425)
84,691

Corporation tax (paid)/received
(21,654)
18,042

Foreign exchange movement
1,107
(12,205)

Net cash generated from operating activities

206,348
197,329

Cash flows from investing activities

Purchase of tangible fixed assets
(36,244)
(266,923)

Sale of tangible fixed assets
43,716
101,800

Interest received
8,414
1,101

Net cash from investing activities

15,886
(164,022)

Cash flows from financing activities

Dividends paid
(90,000)
(90,000)

Net cash used in financing activities
(90,000)
(90,000)

Net increase/(decrease) in cash and cash equivalents
132,234
(56,693)

Cash and cash equivalents at beginning of year
1,402,788
1,459,481

Cash and cash equivalents at the end of year
1,535,022
1,402,788


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,535,022
1,402,788

1,535,022
1,402,788


The notes on pages 16 to 33 form part of these financial statements.

Page 15

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


GENERAL INFORMATION

The Group consists of the following entities which are all limited companies incorporated and domiciled in the United Kingdom.
• Super Successful Limited is engaged in the holding of investments.
• Conneely Construction Limited is engaged in construction contracting and joinery manufacturing.
• Leap to Success Limited is engaged in the operation of a rental company.
The Group's registered office is 110 Warwick Avenue, Edgware, Middlesex, HA8 8UJ, United Kingdom. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Profit and Loss Account from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 16

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Consolidated Profit and Loss Account except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
All foreign exchange gains and losses are presented in the Consolidated Profit and Loss Account.

 
2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 17

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

OPERATING LEASES: THE GROUP AS LESSEE

Rentals paid under operating leases are charged to the Consolidated Profit and Loss Account on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Consolidated Profit and Loss Account in the same period as the related expenditure.

 
2.7

INTEREST INCOME

Interest income is recognised in the Consolidated Profit and Loss Account using the effective interest method.

 
2.8

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

BORROWING COSTS

All borrowing costs are recognised in the Consolidated Profit and Loss Account in the year in which they are incurred.

 
2.10

PENSIONS

Defined contribution pension plan 

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 18

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

 
2.12

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10.0%
Motor vehicles
-
20.0%
Fixtures and fittings
-
12.5%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Profit and Loss Account.

Page 19

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Consolidated Profit and Loss Account.

 
2.14

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

STOCKS

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Costs includes all direct costs and an appropriate proportion of fixed and variable overheads.
Cost of construction materials are stated at purchase invoice cost (net of VAT). Work in progress is valued at the direct cost of materials and labour together with an appropriate element of overheads for work on site and unbilled at the Balance Sheet date.
Net realisable value is calculated at estimated selling price less expected production costs and selling expenses, associated with completion and disposal.

At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Consolidated Profit and Loss Account.

 
2.16

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.17

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.18

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 20

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.19

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.20

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.21

FINANCIAL INSTRUMENTS

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

 

Page 21

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.21
FINANCIAL INSTRUMENTS (CONTINUED)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

 

Page 22

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.21
FINANCIAL INSTRUMENTS (CONTINUED)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.


3.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of these financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.
Judgments and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
(a) Establishing lives for depreciation purposes of property, plant and equipment
Long-lived assets, consisting primarily of property and equipment, comprise a significant portion of the total assets. The annual depreciation charge depends primarily on the estimated lives of each type of asset and estimates of residual values. The Directors regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Details of the useful lives is included in the accounting policies.
 

Page 23

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


TURNOVER

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Sales
11,225,979
10,086,002

Rental income
95,585
81,896

11,321,564
10,167,898


Analysis of turnover by country of destination:

2023
2022
£
£

United Kingdom
11,225,979
10,086,002

Rest of Europe
95,585
81,896

11,321,564
10,167,898



5.


OPERATING PROFIT

The operating profit is stated after charging:

2023
2022
£
£

Depreciation of tangible fixed assets
122,906
133,110

Fair value movements
(15,425)
84,691

(Profit)/loss on sales of fixed assets
(3,217)
21,686

Operating lease expense
8,348
7,420


6.


AUDITORS' REMUNERATION

2023
2022
£
£

Fees payable to the Group's auditor and its associates for the audit of the Group's annual financial statements
28,500
24,350

Page 24

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


EMPLOYEES

Staff costs, including Directors' remuneration, were as follows:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Wages and salaries
226,171
257,940
-
-

Social security costs
21,707
26,138
-
-

Cost of defined contribution scheme
83,786
84,260
-
-

331,664
368,338
-
-


The average monthly number of employees, including the Directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
5
5


8.


DIRECTORS' REMUNERATION

2023
2022
£
£

Directors' emoluments
150,000
150,000

Group contributions to defined contribution pension schemes
80,000
80,000

230,000
230,000


During the year the highest paid Director recieved remuneration of £75,000 (2022 : £75,000).
The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid Director amounted to £40,000 (2022 : £40,000).
 

9.


INTEREST RECEIVABLE

2023
2022
£
£


Other interest receivable
8,414
1,101

8,414
1,101

Page 25

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

10.


TAXATION


2023
2022
£
£

CORPORATION TAX


Corporation tax
20,700
8,088


DEFERRED TAX


Deferred tax
(4,982)
(7,120)


TAXATION ON ORDINARY ACTIVITIES
15,718
968

FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The total tax charge for the year included in the income statement can be reconciled to the profit before tax multiplied by the standard rate of tax as follows:

2023
2022
£
£


Profit on ordinary activities before tax
402,914
199,572


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 23% (2022 - 19%)
92,670
37,919

EFFECTS OF:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
4,064
5,143

Capital allowances for year in excess of depreciation
20,886
(8,462)

Adjustment in research and development tax credit leading to an increase (decrease) in the tax charge
(98,486)
(51,324)

Capital Losses
2,628
14,761

Other differences leading to an increase (decrease) in the tax charge
(6,044)
2,931

TOTAL TAX CHARGE FOR THE YEAR
15,718
968


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

In the budget on 3 March 2021, the UK Government announced an increase in the main UK corporation tax rate from 19% to 25% with effect from 1 April 2023. The change in rate was substantively enacted on 24 May 21. The effective blended tax rate for 2023 was 23%.

Page 26

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

11.


DIVIDENDS

2023
2022
£
£

ORDINARY


Interim dividends paid
90,000
90,000

90,000
90,000


12.


TANGIBLE FIXED ASSETS

Group






Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



COST OR VALUATION


At 1 December 2022
869,741
246,076
6,947
1,122,764


Additions
36,244
-
-
36,244


Disposals
(78,000)
(11,495)
-
(89,495)


Exchange adjustments
-
-
(10)
(10)



At 30 November 2023

827,985
234,581
6,937
1,069,503



DEPRECIATION


At 1 December 2022
312,804
152,018
2,026
466,848


Charge for the year on owned assets
82,799
39,233
874
122,906


Disposals
(39,800)
(9,196)
-
(48,996)


Exchange adjustments
-
-
(9)
(9)



At 30 November 2023

355,803
182,055
2,891
540,749



NET BOOK VALUE



At 30 November 2023
472,182
52,526
4,046
528,754



At 30 November 2022
556,937
94,058
4,921
655,916

Page 27

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

13.


FIXED ASSET INVESTMENTS

Group





Listed investments

£



COST OR VALUATION


At 1 December 2022
424,266


Fair value movements
15,425



At 30 November 2023
439,691




Company





Investments in subsidiary companies
Listed investments
Other fixed asset investments
Total

£
£
£
£



COST OR VALUATION


At 1 December 2022
2,842,203
424,266
833,209
4,099,678


Revaluations
-
15,425
(1,156)
14,269



At 30 November 2023
2,842,203
439,691
832,053
4,113,947





SUBSIDIARY UNDERTAKINGS


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Conneely Construction Limited
110 Warwick Avenue, Edgware, Middlesex, HA8 8UJ, United Kingdom.
Ordinary shares 'A' Ordinary share
100%
Leap to Success Limited
110 Warwick Avenue, Edgware, Middlesex, HA8 8UJ, United Kingdom.
Ordinary shares
100%

Page 28

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
SUBSIDIARY UNDERTAKINGS (CONTINUED)

The aggregate of the share capital and reserves as at 30 November 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Conneely Construction Limited
2,956,809
321,099

Leap to Success Limited
111,513
46,657


14.


INVESTMENT PROPERTY

Group


Freehold investment property

£



VALUATION


At 1 December 2022
797,839


Foreign exchange movement
(1,106)



AT 30 NOVEMBER 2023
796,733












15.


STOCKS

Group
Group
2023
2022
£
£

Work in progress
1,956,573
1,639,482

1,956,573
1,639,482



16.


DEBTORS

Group
Group
Company
Company
2023
2022
2023
2022
Page 29

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

16.DEBTORS (CONTINUED)

£
£
£
£


Trade debtors
52,414
-
-
-

Amounts owed by connected undertakings
900,000
900,000
-
-

Other debtors
143,335
499,145
1
1

1,095,749
1,399,145
1
1



17.


CASH AND CASH EQUIVALENTS

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
1,535,022
1,402,788
734,575
726,161

1,535,022
1,402,788
734,575
726,161



18.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Trade creditors
825,279
1,081,252
-
-

Amounts owed to connected undertakings
103,692
118,481
-
-

Corporation tax
4,446
2,833
4,446
1,079

Other taxation and social security
36,906
35,340
-
-

Other creditors
5,650
4,722
-
-

Accruals and deferred income
201,851
194,324
-
-

1,177,824
1,436,952
4,446
1,079


Group
Group
2023
2022
£
£


Payroll taxes
(36,906)
(35,340)

(36,906)
(35,340)


Page 30

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

19.


FINANCIAL INSTRUMENTS

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

FINANCIAL ASSETS

Financial assets measured at fair value through profit or loss
1,535,022
1,402,788
734,575
726,161

Financial assets that are debt instruments measured at amortised cost
1,093,182
1,399,145
1
1

2,628,204
2,801,933
734,576
726,162


Financial liabilities

Financial liabilities measured at amortised cost
934,621
1,204,455
-
-


Financial assets measured at fair value through profit or loss comprise of cash and cash equivalents.
Financial assets that are debt instruments measured at amortised cost comprise of trade debtors, other debtors and amounts owed by group undertakings.
Financial liabilities measured at amortised cost comprise of trade creditors, other creditors, bank loans, amounts owed to group undertakings and amounts owed to connected undertakings.


20.


DEFERRED TAXATION


Group



2023
2022


£

£






At beginning of year
(109,359)
(116,479)


Charged to profit or loss
4,982
7,120



At end of year
(104,377)
(109,359)

Page 31

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
 
20.DEFERRED TAXATION (CONTINUED)







Group
Group
2023
2022
£
£

Accelerated capital allowances
(104,377)
(109,359)

(104,377)
(109,359)


21.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



102 (2022 - 102) Ordinary shares of £1.00 each
102
102



22.


PENSION COMMITMENTS

The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost represents contributions payable by the Group to the fund and amounted to £83,786 (2022:£84,260).


23.


COMMITMENTS UNDER OPERATING LEASES

At 30 November 2023 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2023
2022
£
£

Not later than 1 year
8,533
2,473

Later than 1 year and not later than 5 years
36,052
-

Later than 5 years
11,306
-

55,891
2,473
Page 32

 
SUPER SUCCESSFUL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

24.


RELATED PARTY TRANSACTIONS

TRANSACTIONS WITH CONNECTED UNDERTAKINGS
The Group had transactions with the following entities which are connected through commonality of Directors. The transactions with these companies are on an arm's length commercial basis and in the ordinary course of business.
At the beginning of the year, the Group owed Conneely Concrete Limited £118,481. During the year the Conneely Concrete Limited rendered services to the Group to the value of £110,211. At year end the Group owed Conneely Concrete Limited £103,692.
At the beginning of the year, the Group was £900,000 by Conneely Construction (New Road) Limited. At year end the Group was owed £900,000 by Conneely Construction (New Road) Limited.

25.


POST BALANCE SHEET EVENTS

There have been no significant events affecting the Group since the year end. 


26.


CONTROLLING PARTY

The ultimate controlling parties are Kevin and Paul Conneely who own 100% of the issued share capital.

Page 33