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Registration number: 12786628

Supremacy Property Management Limited

Unaudited Financial Statements

for the Period from 1 May 2023 to 31 October 2024

 

Supremacy Property Management Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Supremacy Property Management Limited

Company Information

Director

Mr Benjamin David Knight

Registered office

Unit 1
Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW

 

Supremacy Property Management Limited

(Registration number: 12786628)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

-

3,903

Cash at bank and in hand

 

-

25,021

 

-

28,924

Creditors: Amounts falling due within one year

5

(2,726)

(28,623)

Net (liabilities)/assets

 

(2,726)

301

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(2,826)

201

Shareholders' (deficit)/funds

 

(2,726)

301

For the financial period ending 31 October 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 January 2025
 

.........................................
Mr Benjamin David Knight
Director

 

Supremacy Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1
Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
United Kingdom

These financial statements were authorised for issue by the director on 24 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These accounts have been prepared for the period 1st May 2023 to 31st October 2024, the date in which the company ceased trading. Therefore, comparative figures are not comparable as this is a 18 month period up to the date the company ceased trading.

 

Supremacy Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

 

Supremacy Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

4

Debtors

Current

2024
£

2023
£

Prepayments

-

303

Other debtors

-

3,600

 

-

3,903

 

Supremacy Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 October 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

242

Amounts owed to group undertakings and undertakings in which the company has a participating interest

2,726

20,545

Taxation and social security

 

-

2,276

Accruals and deferred income

 

-

1,410

Other creditors

 

-

4,150

 

2,726

28,623

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Parent and ultimate parent undertaking

The company's immediate parent is Knight Asset Holdings Limited, incorporated in England and Wales.