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Registered number: 02215427
Superabrasive Techniques Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
PKW Accountancy Limited
Second Floor
1 Church Square
Leighton Buzzard
Bedfordshire
LU7 1AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 02215427
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 290 617
290 617
CURRENT ASSETS
Stocks 101,845 118,894
Debtors 5 196,355 205,060
Cash at bank and in hand 182,620 206,461
480,820 530,415
Creditors: Amounts Falling Due Within One Year 6 (106,554 ) (189,534 )
NET CURRENT ASSETS (LIABILITIES) 374,266 340,881
TOTAL ASSETS LESS CURRENT LIABILITIES 374,556 341,498
NET ASSETS 374,556 341,498
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 373,556 340,498
SHAREHOLDERS' FUNDS 374,556 341,498
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 7 November 2024 and were signed on its behalf by:
T Aitchison
Director
7th November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Superabrasive Techniques Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02215427 . The registered office is 1 Church Square, Leighton Buzzard, Bedfordshire, LU7 1AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% straight line
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 April 2023 15,843
As at 31 March 2024 15,843
Depreciation
As at 1 April 2023 15,226
Provided during the period 327
As at 31 March 2024 15,553
Net Book Value
As at 31 March 2024 290
As at 1 April 2023 617
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 69,648 63,506
Other debtors 1,795 16,642
71,443 80,148
Due after more than one year
Amounts owed by group undertakings 124,912 124,912
196,355 205,060
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 64,164 119,207
Other creditors 5,267 39,019
Taxation and social security 37,123 31,308
106,554 189,534
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4