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Registration number: 07411419

Supercardriver Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Supercardriver Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Supercardriver Limited

(Registration number: 07411419)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

193,100

231,295

Current assets

 

Debtors

6

539,330

577,260

Cash at bank and in hand

 

153,380

86,625

 

692,710

663,885

Creditors: Amounts falling due within one year

7

(488,291)

(388,102)

Net current assets

 

204,419

275,783

Total assets less current liabilities

 

397,519

507,078

Creditors: Amounts falling due after more than one year

7

(145,644)

(249,264)

Provisions for liabilities

39,214

52,227

Net assets

 

291,089

310,041

Capital and reserves

 

Called up share capital

2,000

2,000

Retained earnings

289,089

308,041

Shareholders' funds

 

291,089

310,041

For the financial year ending 31 December 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 year 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.

 

Supercardriver Limited

(Registration number: 07411419)
Balance Sheet as at 31 December 2024

Approved and authorised by the director on 25 March 2025
 

.........................................
Mr A P Thorby
Director

 

Supercardriver Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Gnd Flr Office Suite 1A
Meadowhall Riverside
Meadowhall Road
Sheffield
South Yorkshire
S9 1BW

These financial statements were authorised for issue by the director on 25 March 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of 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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

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.

 

Supercardriver Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

33% on a straight line basis

Fixtures, fittings and equipment

33% on a straight line basis

Motor vehicles

25% on a straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 and subsequently measured at amortised cost using the effective interest method.

 

Supercardriver Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Supercardriver Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

58,299

79,183

5

Tangible assets

Short leasehold land and buildings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

-

77,884

379,687

457,571

Additions

11,754

4,560

254,605

270,919

Disposals

-

(47,821)

(333,499)

(381,320)

At 31 December 2024

11,754

34,623

300,793

347,170

Depreciation

At 1 January 2024

-

71,261

155,015

226,276

Charge for the year

1,306

7,300

49,692

58,298

Eliminated on disposal

-

(47,821)

(82,683)

(130,504)

At 31 December 2024

1,306

30,740

122,024

154,070

Carrying amount

At 31 December 2024

10,448

3,883

178,769

193,100

At 31 December 2023

-

6,623

224,672

231,295

Included within the net book value of land and buildings above is £10,448 (2023 - £Nil) in respect of short leasehold land and buildings.
 

 

Supercardriver Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

32,381

24,191

Amounts owed by related parties

9

461,680

485,010

Other debtors

 

16,250

29,250

Prepayments

 

29,019

38,809

 

539,330

577,260

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

49,362

50,051

Trade creditors

 

73,681

2,960

Amounts owed to related parties

9

108,297

108,297

Taxation and social security

 

25,974

30,670

Corporation tax

 

19,952

34,368

Other creditors

 

30,478

34,190

Accrued expenses and deferred income

 

180,547

127,566

 

488,291

388,102

Current loans and borrowings

2024
£

2023
£

Bank borrowings

39,671

31,532

HP and finance lease liabilities

9,691

18,519

49,362

50,051

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

145,644

249,264

 

Supercardriver Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

33,489

81,299

Hire purchase contracts

112,155

167,965

145,644

249,264

Current loans and borrowings

2024
£

2023
£

Bank borrowings

39,671

31,532

Hire purchase contracts

9,691

18,519

49,362

50,051

9

Related party transactions

Loans to related parties

2024

Parent
£

Total
£

At start of period

485,010

485,010

Repaid

(23,330)

(23,330)

At end of period

461,680

461,680

2023

Parent
£

Total
£

At start of period

400,023

400,023

Advanced

84,987

84,987

At end of period

485,010

485,010

 

Supercardriver Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Terms of loans to related parties

There are no repayment terms and interest is not charged on the balance.
 

Loans from related parties

2024

Entities with joint control or significant influence
£

At start of period

108,154

At end of period

108,154

2023

Entities with joint control or significant influence
£

Total
£

At start of period

108,154

108,154

At end of period

108,154

108,154

Terms of loans from related parties

There are no repayment terms and interest is not charged on the balance.
 

10

Parent and ultimate parent undertaking

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