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REGISTERED NUMBER: 06714294 (England and Wales)







Financial Statements for the Year Ended 31st December 2023

for

Super Rod Limited

Super Rod Limited (Registered number: 06714294)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Super Rod Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: M J Duncan
J J McDevitt
S A M Morgan
M J Thomason
L Klein Fox





REGISTERED OFFICE: 5 Deansway
Worcester
Worcestershire
WR1 2JG





REGISTERED NUMBER: 06714294 (England and Wales)





AUDITORS: The Richards Sandy Partnership Ltd
(Statutory Auditor)
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Super Rod Limited (Registered number: 06714294)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 82,233 148,022
Tangible assets 5 83,898 121,289
166,131 269,311

CURRENT ASSETS
Stocks 844,977 821,788
Debtors 6 1,275,954 1,264,304
Cash at bank and in hand 1,594,494 921,772
3,715,425 3,007,864
CREDITORS
Amounts falling due within one year 7 959,577 907,546
NET CURRENT ASSETS 2,755,848 2,100,318
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,921,979

2,369,629

CREDITORS
Amounts falling due after more than one
year

8

(32,610

)

(60,342

)

PROVISIONS FOR LIABILITIES (5,222 ) (9,138 )
NET ASSETS 2,884,147 2,300,149

CAPITAL AND RESERVES
Called up share capital 540 540
Capital redemption reserve 40 40
Retained earnings 2,883,567 2,299,569
2,884,147 2,300,149

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th March 2024 and were signed on its behalf by:





S A M Morgan - Director


Super Rod Limited (Registered number: 06714294)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Super Rod Limited is a private company, limited by shares , registered in England and Wales. 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
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

GOODWILL
Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

INTANGIBLE ASSETS
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents-25% on cost

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses:

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:

Plant and machinery-25% on cost and 14% on cost
Fixtures and fittings-25% on cost
Motor vehicles-25% on reducing balance

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 an asset, and is credited or charged to the profit or loss.

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

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Super Rod Limited (Registered number: 06714294)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where 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 and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

Basic Financial Liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

RESEARCH AND DEVELOPMENT
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated .

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Super Rod Limited (Registered number: 06714294)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND OPERATING LEASE 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
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 23 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 657,889 29,956 687,845
AMORTISATION
At 1st January 2023 509,867 29,956 539,823
Charge for year 65,789 - 65,789
At 31st December 2023 575,656 29,956 605,612
NET BOOK VALUE
At 31st December 2023 82,233 - 82,233
At 31st December 2022 148,022 - 148,022

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st January 2023 59,064 79,549 178,473 317,086
Additions 7,999 - - 7,999
Disposals - - (54,745 ) (54,745 )
At 31st December 2023 67,063 79,549 123,728 270,340
DEPRECIATION
At 1st January 2023 54,842 74,736 66,219 195,797
Charge for year 2,637 1,050 23,531 27,218
Eliminated on disposal - - (36,573 ) (36,573 )
At 31st December 2023 57,479 75,786 53,177 186,442
NET BOOK VALUE
At 31st December 2023 9,584 3,763 70,551 83,898
At 31st December 2022 4,222 4,813 112,254 121,289

Super Rod Limited (Registered number: 06714294)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 899,060 860,510
Amounts owed by group undertakings 5,949 229,261
Prepayments and accrued income 370,945 174,533
1,275,954 1,264,304

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 235,658 398,793
Hire purchase contracts (see note 9) 27,732 32,289
Trade creditors 61,486 54,564
Amounts owed to group undertakings 16,465 -
Corporation tax 96,843 19,384
Social security and other taxes 40,671 36,437
VAT 175,986 72,719
Other creditors 209,134 205,339
Accrued expenses 95,602 88,021
959,577 907,546

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 32,610 60,342

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 27,732 32,289
Between one and five years 32,610 60,342
60,342 92,631

Non-cancellable operating leases
2023 2022
£    £   
Within one year 57,437 50,104
Between one and five years 85,644 56,593
143,081 106,697

Hire purchase contracts are secured over the assets to which they relate.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert lestyn Richards FCCA (Senior Statutory Auditor)
for and on behalf of The Richards Sandy Partnership Ltd

Super Rod Limited (Registered number: 06714294)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

11. ULTIMATE CONTROLLING PARTY

The immediate parent company is Klein Tools Inc who own 50.9% of the Ordinary Share Capital of the company. The ultimate parent company and ultimate controlling party is Zah Group Inc, being the ultimate parent company of the group by virtue of the 100% ownership of the share capital in Klein Tools, Inc.

The registered office of the immediate parent company is as follows:

500 Klein Tools Boulevard,
Mansfield,
Texas,
USA,
76063