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COMPANY REGISTRATION NUMBER: 11843650
Superb Wholesale Limited
Filleted Unaudited Financial Statements
29 February 2024
Superb Wholesale Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
451
563
Current assets
Stocks
1,078
2,196
Debtors
5
20,738
17,410
Cash at bank and in hand
1,461
1,375
--------
--------
23,277
20,981
Creditors: amounts falling due within one year
6
10,977
10,481
--------
--------
Net current assets
12,300
10,500
--------
--------
Total assets less current liabilities
12,751
11,063
Creditors: amounts falling due after more than one year
7
11,256
11,323
--------
--------
Net assets/(liabilities)
1,495
( 260)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,395
( 360)
-------
----
Shareholders funds/(deficit)
1,495
( 260)
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Superb Wholesale Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 16 November 2024 , and are signed on behalf of the board by:
Mrs S Sultana
Director
Company registration number: 11843650
Superb Wholesale Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Agincourt Villas, Uxbridge Road, Hillingdon, Middlesex, UB10 0NX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. 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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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 calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Tangible assets
Equipment
£
Cost
At 1 March 2023 and 29 February 2024
1,375
-------
Depreciation
At 1 March 2023
812
Charge for the year
112
-------
At 29 February 2024
924
-------
Carrying amount
At 29 February 2024
451
-------
At 28 February 2023
563
-------
5. Debtors
2024
2023
£
£
Other debtors
20,738
17,410
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,195
3,194
Other creditors
7,782
7,287
--------
--------
10,977
10,481
--------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,256
11,323
--------
--------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mrs S Sultana
----
----
----
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mrs S Sultana
( 604)
( 528)
( 1,132)
----
----
-------