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COMPANY REGISTRATION NUMBER: 11737098
Supaman Properties Ltd
Filleted Unaudited Financial Statements
30 April 2024
Supaman Properties Ltd
Financial Statements
Year ended 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Supaman Properties Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
700,000
Investments
6
4,200,000
4,200,000
------------
------------
4,900,000
4,200,000
Current assets
Cash at bank and in hand
23,232
2,200
Creditors: amounts falling due within one year
7
4,764,548
4,517,942
------------
------------
Net current liabilities
4,741,316
4,515,742
------------
------------
Total assets less current liabilities
158,684
( 315,742)
Creditors: amounts falling due after more than one year
8
799,537
---------
---------
Net liabilities
( 640,853)
( 315,742)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 640,953)
( 315,842)
---------
---------
Shareholders deficit
( 640,853)
( 315,742)
---------
---------
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.
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 .
Supaman Properties Ltd
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 28 April 2025 , and are signed on behalf of the board by:
Mr K J Ferner Robson
Director
Company registration number: 11737098
Supaman Properties Ltd
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, United Kingdom.
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.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, therefore the company continues to operate a going concern basis in preparing its financial statements.
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 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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
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 the 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.
4. Employee numbers
The average number of employees during the period amounted to 1 (2023: 1).
5. Tangible assets
Investment property
£
Cost
At 1 May 2023
Additions
1,000,000
------------
At 30 April 2024
1,000,000
------------
Depreciation
At 1 May 2023
Impairment losses
300,000
------------
At 30 April 2024
300,000
------------
Carrying amount
At 30 April 2024
700,000
------------
At 30 April 2023
------------
6. Investments
Shares in group undertakings
£
Cost
At 1 May 2023 and 30 April 2024
4,200,000
------------
Impairment
At 1 May 2023 and 30 April 2024
------------
Carrying amount
At 30 April 2024
4,200,000
------------
At 30 April 2023
4,200,000
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,785
Amounts owed to group undertakings and undertakings in which the company has a participating interest
4,762,548
4,514,157
Other creditors
2,000
2,000
------------
------------
4,764,548
4,517,942
------------
------------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
799,537
---------
----
Bank loans and overdrafts are secured by way of a fixed and floating charge over the assets and undertakings of the company.
9. Related party transactions
At the year end the company owed £4,505,479 (2023: £4,509,290) to a group company. At the year end the company owed £3,587 (2023: £2,767) to a group company. At the year end the company owed £253,482 (2023: £2,100) to a group company. During the year the company received an investment property valued at £1,000,000 which was transferred from a group company.
10. Controlling party
The immediate and ultimate parent is Supaman Holdings Limited , a company registered in England & Wales. Supaman Holdings Limited's registered address is 75 Lower Sloane Street, London, United Kingdom, SW1W 8DA .