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Registered number: 06056768
Supreme Surface Treatment Engineering Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06056768
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 292,387 288,841
292,387 288,841
CURRENT ASSETS
Stocks 6 12,785 17,547
Debtors 7 190,080 210,721
Cash at bank and in hand 126,629 212,631
329,494 440,899
Creditors: Amounts Falling Due Within One Year 8 (202,771 ) (236,941 )
NET CURRENT ASSETS (LIABILITIES) 126,723 203,958
TOTAL ASSETS LESS CURRENT LIABILITIES 419,110 492,799
Creditors: Amounts Falling Due After More Than One Year 9 (127,626 ) (182,848 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (26,039 ) (24,868 )
NET ASSETS 265,445 285,083
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 265,345 284,983
SHAREHOLDERS' FUNDS 265,445 285,083
Page 1
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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.
On behalf of the board
Mr M Jackson
Director
11 November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Supreme Surface Treatment Engineering Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06056768 . The registered office is Little Burton West, Burton Upon Trent, Staffordshire, DE14 1PP.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Freehold 2% straight line
Plant & Machinery 10% straight line
Motor Vehicles 25% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 17)
17 17
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 20,000
As at 31 March 2024 20,000
Amortisation
As at 1 April 2023 20,000
As at 31 March 2024 20,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
Goodwill, being the amount paid in connection with the acquisition of a business in 2007 has been written off in equal annual instalments over its estimated economic life of 5 years.
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 April 2023 181,297 386,716 15,642 583,655
Additions - 39,913 3,450 43,363
As at 31 March 2024 181,297 426,629 19,092 627,018
...CONTINUED
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Depreciation
As at 1 April 2023 23,339 260,774 10,701 294,814
Provided during the period 2,623 35,127 2,067 39,817
As at 31 March 2024 25,962 295,901 12,768 334,631
Net Book Value
As at 31 March 2024 155,335 130,728 6,324 292,387
As at 1 April 2023 157,958 125,942 4,941 288,841
6. Stocks
2024 2023
£ £
Stock 12,785 17,547
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 189,492 209,053
Prepayments and accrued income 588 1,668
190,080 210,721
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,882 10,552
Trade creditors 76,322 64,420
Bank loans and overdrafts 49,037 59,934
Corporation tax 7,269 30,116
Other taxes and social security 32,718 43,897
Other creditors 4,000 3,959
Accruals and deferred income 3,606 5,155
Director's loan account 12,937 18,908
202,771 236,941
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,417 15,518
Bank loans 113,396 163,074
Capital grants 813 4,256
127,626 182,848
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,882 10,552
Later than one year and not later than five years 13,417 15,518
30,299 26,070
30,299 26,070
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Related Party Transactions
At the balance sheet date an amount of £12,937 (2023: £18,908) was due to Mr M Jackson, the director. The amount is unsecured and has no fixed repayment date.
13. Ultimate Controlling Party
The company was controlled throughout the year by it's director, M Jackson, by virtue of the fact that he controls all of the company's ordinary issued share capital.
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