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REGISTERED NUMBER: 08817347 (England and Wales)















SUPERIOR CUTTING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






SUPERIOR CUTTING LIMITED (REGISTERED NUMBER: 08817347)






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 to 4


SUPERIOR CUTTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mrs S Terporter
H M Terporter





SECRETARY:





REGISTERED OFFICE: Unit 1, Link House
Estate Road No.1
South Humberside Industrial Estate
Grimsby
N E Lincolnshire
DN31 2TB





REGISTERED NUMBER: 08817347 (England and Wales)

SUPERIOR CUTTING LIMITED (REGISTERED NUMBER: 08817347)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 342,586 77,706

CURRENT ASSETS
Stocks 9,750 9,750
Debtors 5 563,062 232,921
Cash at bank 494,883 320,612
1,067,695 563,283
CREDITORS
Amounts falling due within one year 6 1,032,838 421,775
NET CURRENT ASSETS 34,857 141,508
TOTAL ASSETS LESS CURRENT
LIABILITIES

377,443

219,214

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 377,441 219,212
SHAREHOLDERS' FUNDS 377,443 219,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th November 2024 and were signed on its behalf by:





H M Terporter - Director


SUPERIOR CUTTING LIMITED (REGISTERED NUMBER: 08817347)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Superior Cutting 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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

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

Pension costs and other post-retirement benefits
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 18 (2022 - 17 ) .

SUPERIOR CUTTING LIMITED (REGISTERED NUMBER: 08817347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 - 131,863 24,868 2,557 159,288
Additions 198,056 - 90,185 - 288,241
At 31st December 2023 198,056 131,863 115,053 2,557 447,529
DEPRECIATION
At 1st January 2023 - 61,868 17,486 2,228 81,582
Charge for year - 13,999 9,296 66 23,361
At 31st December 2023 - 75,867 26,782 2,294 104,943
NET BOOK VALUE
At 31st December 2023 198,056 55,996 88,271 263 342,586
At 31st December 2022 - 69,995 7,382 329 77,706

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 535,086 231,967
Other debtors 27,976 954
563,062 232,921

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 895,245 297,077
Taxation and social security 101,738 73,633
Other creditors 35,855 51,065
1,032,838 421,775