Registered number
09450424
Superchoice London Limited
Unaudited
Filleted Accounts
31 March 2024
Superchoice London Limited
Registered number: 09450424
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 30,000 30,000
Tangible assets 4 66,334 75,542
96,334 105,542
Current assets
Stocks 68,403 64,381
Debtors 5 31,000 110,000
Cash at bank and in hand 102,585 8,518
201,988 182,899
Creditors: amounts falling due within one year 6 (118,864) (123,461)
Net current assets 83,124 59,438
Total assets less current liabilities 179,458 164,980
Creditors: amounts falling due after more than one year 7 (72,555) (83,394)
Net assets 106,903 81,586
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 105,903 80,586
Shareholders' funds 106,903 81,586
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr V Sarna
Director
Approved by the board on 26 March 2025
Superchoice London Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
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:
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 5% Straight Line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 50,000
At 31 March 2024 50,000
Amortisation
At 1 April 2023 20,000
At 31 March 2024 20,000
Net book value
At 31 March 2024 30,000
At 31 March 2023 30,000
Amortisation is not provided in the current accounting period.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 69,167 23,000 92,167
At 31 March 2024 69,167 23,000 92,167
Depreciation
At 1 April 2023 16,625 - 16,625
Charge for the year 3,458 5,750 9,208
At 31 March 2024 20,083 5,750 25,833
Net book value
At 31 March 2024 49,084 17,250 66,334
At 31 March 2023 52,542 23,000 75,542
5 Debtors 2024 2023
£ £
Other debtors 31,000 110,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,527 -
Trade creditors 6,253 46,124
Taxation and social security costs 13,982 20,360
Other creditors 96,102 56,977
118,864 123,461
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 72,555 83,394
8 Other information
Superchoice London Limited is a private company limited by shares and incorporated in England. Its registered office is:
104 Ruislip Road
Greenford
Middlesex
UB6 9QH
Superchoice London Limited 09450424 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2025 Mr V Sarna No description of principal activity 09450424 2022-04-01 2023-03-31 09450424 core:WithinOneYear 2023-03-31 09450424 core:AfterOneYear 2023-03-31 09450424 core:ShareCapital 2023-03-31 09450424 core:RetainedEarningsAccumulatedLosses 2023-03-31 09450424 2023-04-01 2024-03-31 09450424 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09450424 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09450424 bus:Director40 2023-04-01 2024-03-31 09450424 1 2023-04-01 2024-03-31 09450424 2 2023-04-01 2024-03-31 09450424 core:PlantMachinery 2023-04-01 2024-03-31 09450424 core:Vehicles 2023-04-01 2024-03-31 09450424 countries:England 2023-04-01 2024-03-31 09450424 bus:FRS102 2023-04-01 2024-03-31 09450424 bus:FilletedAccounts 2023-04-01 2024-03-31 09450424 2024-03-31 09450424 core:WithinOneYear 2024-03-31 09450424 core:AfterOneYear 2024-03-31 09450424 core:ShareCapital 2024-03-31 09450424 core:RetainedEarningsAccumulatedLosses 2024-03-31 09450424 core:Goodwill 2024-03-31 09450424 core:PlantMachinery 2024-03-31 09450424 core:Vehicles 2024-03-31 09450424 2023-03-31 09450424 core:Goodwill 2023-03-31 09450424 core:PlantMachinery 2023-03-31 09450424 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure