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Registered Number: 08411991
England and Wales

 

 

 

SUPREME CLEAN SPECIALIST LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 10,755    12,013 
10,755    12,013 
Current assets      
Debtors: amounts falling due within one year 5 129,777    151,162 
Cash at bank and in hand 19,100    13,637 
148,877    164,799 
Creditors: amount falling due within one year 6 (145,914)   (152,949)
Net current assets 2,963    11,850 
 
Total assets less current liabilities 13,718    23,863 
Creditors: amount falling due after more than one year 7 (12,508)   (22,422)
Net assets 1,210    1,441 
 

Capital and reserves
     
Called up share capital 3    3 
Profit and loss account 1,207    1,438 
Shareholders' funds 1,210    1,441 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 03 September 2024 and were signed on its behalf by:


-------------------------------
Mrs J C Thomas
Director
1
General Information
SUPREME CLEAN SPECIALIST LTD is a private company, limited by shares, registered in England and Wales, registration number 08411991, registration address C3 Apollo Court, Neptune Park, Plymouth, PL4 0SJ.

The presentation currency is £ sterling.
1.

Accounting policies

Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of  revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


                                  Goodwill                                                                           33% Straight Line


If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.

Average number of employees

Average number of employees during the year was 34 (2023 : 37).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2023 10,000    10,000 
Additions  
Disposals  
At 29 February 2024 10,000    10,000 
Amortisation
At 01 March 2023 10,000    10,000 
Charge for year  
On disposals  
At 29 February 2024 10,000    10,000 
Net book values
At 29 February 2024  
At 28 February 2023  


4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 March 2023 27,718    27,718 
Additions 1,430    1,430 
Disposals  
At 29 February 2024 29,148    29,148 
Depreciation
At 01 March 2023 15,705    15,705 
Charge for year 2,688    2,688 
On disposals  
At 29 February 2024 18,393    18,393 
Net book values
Closing balance as at 29 February 2024 10,755    10,755 
Opening balance as at 01 March 2023 12,013    12,013 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 45,427    71,283 
Other Debtors 84,350    79,879 
129,777    151,162 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Bank Loans & Overdrafts 35,366    10,968 
Taxation and Social Security 26,327    36,294 
Other Creditors 84,221    105,687 
145,914    152,949 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 12,508    22,422 
12,508    22,422 

2