39 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2024 - FRS102_2024 37,970 28,728 66,698 6,801 13,450 20,251 46,447 31,169 xbrli:pure xbrli:shares iso4217:GBP 03909637 2023-05-01 2024-04-30 03909637 2024-04-30 03909637 2023-04-30 03909637 2022-05-01 2023-04-30 03909637 2023-04-30 03909637 2022-04-30 03909637 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 03909637 core:LandBuildings core:LongLeaseholdAssets 2023-05-01 2024-04-30 03909637 core:FurnitureFittings 2023-05-01 2024-04-30 03909637 bus:Director1 2023-05-01 2024-04-30 03909637 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 03909637 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 03909637 core:LandBuildings core:LongLeaseholdAssets 2023-04-30 03909637 core:FurnitureFittings 2023-04-30 03909637 core:LandBuildings core:LongLeaseholdAssets 2024-04-30 03909637 core:FurnitureFittings 2024-04-30 03909637 core:WithinOneYear 2024-04-30 03909637 core:WithinOneYear 2023-04-30 03909637 core:ShareCapital 2024-04-30 03909637 core:ShareCapital 2023-04-30 03909637 core:RetainedEarningsAccumulatedLosses 2024-04-30 03909637 core:RetainedEarningsAccumulatedLosses 2023-04-30 03909637 core:BetweenOneFiveYears 2024-04-30 03909637 core:BetweenOneFiveYears 2023-04-30 03909637 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 03909637 core:LandBuildings core:LongLeaseholdAssets 2023-04-30 03909637 core:FurnitureFittings 2023-04-30 03909637 bus:SmallEntities 2023-05-01 2024-04-30 03909637 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03909637 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03909637 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03909637 bus:FullAccounts 2023-05-01 2024-04-30 03909637 core:OfficeEquipment 2023-05-01 2024-04-30 03909637 core:OfficeEquipment 2023-04-30 03909637 core:OfficeEquipment 2024-04-30 03909637 core:AllAssociates 2023-05-01 2024-04-30 03909637 core:KeyManagementPersonnel 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 03909637
Supaman Limited
Filleted Unaudited Financial Statements
30 April 2024
Supaman Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Supaman Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
46,447
31,169
Tangible assets
6
278,936
119,531
---------
---------
325,383
150,700
Current assets
Stocks
1,819,501
1,371,741
Debtors
7
667,170
627,943
Cash at bank and in hand
64,853
14,531
------------
------------
2,551,524
2,014,215
Creditors: amounts falling due within one year
8
1,732,476
1,168,308
------------
------------
Net current assets
819,048
845,907
------------
---------
Total assets less current liabilities
1,144,431
996,607
Provisions
39,640
14,510
------------
---------
Net assets
1,104,791
982,097
------------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,104,691
981,997
------------
---------
Shareholders funds
1,104,791
982,097
------------
---------
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 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Supaman Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Mr K J F Robson
Director
Company registration number: 03909637
Supaman Limited
Notes to the Financial Statements
Year ended 30 April 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 75 Lower Sloane Street, London, SW1W 8DA.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
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 is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
25% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Long leasehold property
-
10% straight line
Fixtures and fittings
-
25% straight line
Hire suits
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 39 (2023: 35 ).
5. Intangible assets
Development costs
£
Cost
At 1 May 2023
37,970
Additions
28,728
--------
At 30 April 2024
66,698
--------
Amortisation
At 1 May 2023
6,801
Charge for the year
13,450
--------
At 30 April 2024
20,251
--------
Carrying amount
At 30 April 2024
46,447
--------
At 30 April 2023
31,169
--------
6. Tangible assets
Leasehold property
Fixtures and fittings
Hire Suits
Total
£
£
£
£
Cost or valuation
At 1 May 2023
87,645
216,930
309,190
613,765
Additions
177,080
11,844
188,924
---------
---------
---------
---------
At 30 April 2024
264,725
228,774
309,190
802,689
---------
---------
---------
---------
Depreciation
At 1 May 2023
8,765
176,279
309,190
494,234
Charge for the year
12,045
17,474
29,519
---------
---------
---------
---------
At 30 April 2024
20,810
193,753
309,190
523,753
---------
---------
---------
---------
Carrying amount
At 30 April 2024
243,915
35,021
278,936
---------
---------
---------
---------
At 30 April 2023
78,880
40,651
119,531
---------
---------
---------
---------
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
488,900
424,251
Other debtors
178,270
203,692
---------
---------
667,170
627,943
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
423,150
149,760
Trade creditors
515,812
613,490
Corporation tax
38,236
75,440
Social security and other taxes
217,600
220,207
Other creditors
537,678
109,411
------------
------------
1,732,476
1,168,308
------------
------------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the assets and undertakings of the company.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
216,000
117,500
Later than 1 year and not later than 5 years
696,500
445,000
---------
---------
912,500
562,500
---------
---------
10. Related party transactions
As at the year end date, the company was owed £488,900 (2023: £424,251) by group companies. As at the year end date, the company owed the Directors £213,306 (2023: £nil).
11. Controlling party
The ultimate controlling party of the company is Supaman Holdings Ltd a company registered in the United Kingdom; the registered address of this company is 75 Lower Sloane Street, London, United Kingdom, SW1W 8DA .