Registration number:
Suparot Limited
for the Year Ended 30 September 2024
Suparot Limited
Contents
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Company Information |
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Directors' Report |
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Statement of Comprehensive Income |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Suparot Limited
Company Information
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Directors |
T Berglund J Naish AJ Sperrin R E Erkkila |
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Company secretary |
J Naish M Jeffery |
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Registered office |
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Accountants |
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Suparot Limited
Directors' Report for the Year Ended 30 September 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
Principal activity
The principal activity of the company is that of management consultancy.
Directors of the company
The directors who held office during the year and up to the date of approval of this report were as follows:
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in
operational existence for the foreseeable future. Thus they continue to adopt the going concern basis
in preparing the annual financial statements.
Events after the financial period
There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.
Small companies provision statement
The directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors’ report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.
Approved and authorised by the
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Suparot Limited
Statement of comprehensive income
for the Year Ended 30 September 2024
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Note |
2024 |
2023 |
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Revenue |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating loss |
(50,062) |
(1,693) |
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(Loss)/gain on financial assets at fair value through profit and loss account |
( |
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Dividend income |
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- |
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Income from listed investments |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
( |
( |
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(Loss)/profit on ordinary activities before taxation |
( |
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Taxation |
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( |
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(Loss)/profit for the financial year |
( |
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Continuing operations
The above results were derived wholly from continuing operations.
Suparot Limited
(Registration number: 04908636)
Statement of Financial Position as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Listed investments |
3,122,051 |
3,656,648 |
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Current assets |
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Receivables |
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Cash at bank |
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Payables: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Equity |
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Called up share capital |
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Share premium reserve |
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Other reserves |
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Retained earnings |
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Total equity |
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For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime.
The financial statements of Suparot Limited were approved and authorised for issue by the
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Director
Suparot Limited
Statement of Changes in Equity
for the Year Ended 30 September 2024
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Called up share capital |
Share premium |
Other reserves |
Retained earnings |
Total |
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At 1 October 2023 |
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Loss for the year |
- |
- |
- |
( |
( |
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Total comprehensive income |
- |
- |
- |
( |
( |
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Dividends |
- |
- |
- |
( |
( |
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Transfers |
- |
- |
(400,949) |
400,949 |
- |
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At 30 September 2024 |
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Called up share capital |
Share premium |
Other reserves |
Retained earnings |
Total |
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At 1 October 2022 |
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Profit for the year |
- |
- |
- |
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Total comprehensive income |
- |
- |
- |
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Dividends |
- |
- |
- |
( |
( |
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New share capital issued |
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- |
- |
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Transfers |
- |
- |
48,113 |
(48,113) |
- |
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At 30 September 2023 |
62 |
1,475,967 |
556,841 |
831,219 |
2,864,089 |
Suparot Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024
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General information |
Suparot Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
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Accounting policies |
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.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' issued by the Financial Reporting Council and in accordance with the Companies Act 2006.
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.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Exemption from preparing group accounts
Critical judgements and key sources of estimation uncertainties
There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.
Revenue recognition
Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of value added tax.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.
Suparot Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
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2 |
Accounting policies (continued) |
Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in the Income statement, 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.
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the year end.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Investments
Investment in subsidiary undertaking is stated at historical cost less provision for any diminution in value.
Other financial assets
Other financial assets comprise listed securities which are publicly traded and are initially recognised at cost and subsequently measured at fair value at each balance sheet date. Gains and losses arising from changes in fair values are recognised in the income statement.
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.
Receivables
Trade and other receivables that are receivable within one year and do not constitute a financing
transaction are recorded at the undiscounted amount expected to be received, net of impairment.
Those that are receivable after more than one year or that constitute a financing transaction are
recorded initially at fair value less transaction costs and subsequently at amortised cost, net of
impairment.
Suparot Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
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2 |
Accounting policies (continued) |
Payables
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables 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 and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at mortised cost using the effective interest method.
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.
Financial instruments
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Revenue |
In the opinion of the directors, the company's revenue, profit before taxation and net assets are attributable to the company's one principal business in the United Kingdom only and not attributable to classes of business or geographical segments which differ substantially from each other. Consequently, no segmental information has been presented. Turnover derives wholly from the provision of services.
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Interest receivable and similar income |
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2024 |
2023 |
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Interest on loans and borrowings |
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Interest payable and similar expenses |
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2024 |
2023 |
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Interest on bank overdrafts and borrowings |
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Suparot Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
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Directors' remuneration |
No remuneration was paid to the directors during the year (2023: £nil).
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Taxation |
Tax charged/(credited) in the statement of comprehensive income
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2024 |
2023 |
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Current taxation |
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UK corporation tax |
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Total current income tax |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
( |
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Tax (receipt)/expense in the income statement |
( |
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The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2023 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
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2024 |
2023 |
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(Loss)/profit before tax |
( |
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Corporation tax at standard rate |
( |
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Tax decrease from effect of revenues exempt from taxation |
(53,750) |
- |
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UK deferred tax expense relating to changes in tax rates or laws |
- |
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Decrease from effect of marginal relief |
- |
( |
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Total tax (credit)/charge |
( |
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Deferred tax
Deferred tax assets and liabilities
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2024 |
Liability |
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Financial assets at fair value through the income statement |
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2023 |
Liability |
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Financial assets at fair value through the income statement |
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Suparot Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
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Investments |
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2024 |
2023 |
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Investments in subsidiaries |
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£ |
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Subsidiaries |
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Cost |
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At 1 October 2023 |
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Additions |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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England & Wales |
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England & Wales |
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Suparot Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
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Listed investments |
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Listed investments |
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Valuation |
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At 1 October 2023 |
3,656,648 |
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Revaluations |
(534,597) |
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At 30 September 2024 |
3,122,051 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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The aggregate historical cost amount (reflecting any written down to recoverable amount) that would have been included had the investments not been revalued at 30 September 2024 was £2,914,193 (2023: £2,914,193).
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Receivables |
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2024 |
2023 |
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Amount due from subsidiary undertaking |
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Other receivables |
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Prepayments and accrued income |
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Cash and cash equivalents |
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2024 |
2023 |
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Cash at bank |
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Suparot Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
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Payables |
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2024 |
2023 |
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Due within one year |
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Trade payables |
- |
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Corporation tax |
26,821 |
24,839 |
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Other payables |
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Accruals |
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Provisions for liabilities |
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Deferred tax |
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At 1 October 2023 |
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Decrease in existing provisions |
( |
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At 30 September 2024 |
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The deferred tax liability above represents the deferred tax liability on the gain on listed investments recognised within equity.
Suparot Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
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Share capital and reserves |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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29 |
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29 |
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33 |
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33 |
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Rights, preferences and restrictions:
Ordinary shares
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(a) |
Each Ordinary Share shall confer upon the holder of that share the right to vote at all general meetings and on proposed written resolutions. |
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(b) |
Each Ordinary Share shall confer upon the holder of that share the right to participate in dividend distribution, pro-rata to their respective holdings. |
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(c) |
Each Ordinary Share shall confer upon the holder of that share the right to receive capital distributions (including on winding up), pro-rata to their respective holdings. |
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(d) |
These Shares are not expressed to be redeemable. |
Preference Shares
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(a) |
Offer no right to vote at general meetings and on proposed written resolutions. |
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(b) |
Each Preference Share shall confer upon the holder of that share the right to participate in dividend distribution equal to dividends declared to the ordinary shareholders, pro-rata to their respective holdings. |
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(c) |
Each Preference Share shall confer upon the holder of that share the right to receive capital distributions (including on winding up), pro-rata to their respective holdings. |
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(d) |
These Shares are expressed to be redeemable by the company only at a price equal to the market value of the company divided by the number of ordinary and redeemable preference shares in issue at the date of redemption. |
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
Other reserve represents enhancements to the original cost of investments where the directors have considered it appropriate to reflect increases in market value of listed investments. Deferred tax is provided in full on amounts credited or debited to other reserves, in respect of listed investments at tax rates expected to apply when they crystallise based on tax rates and laws that been enacted or substantially enacted by the year end.
Suparot Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)
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Dividends |
|
2024 |
2023 |
|||
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£ |
£ |
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Interim dividend of £ |
139,050 |
69,525 |
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Related party transactions |
At 30 September 2024, the company owed T H Berglund, a director, £71,052 (2023: £80,835). The loan is unsecured, interest free and has no fixed repayment date or repayment schedule.
At 30 September 2024, the company owed J Naish, a director, £74,000 (2023: £74,000). The loan is unsecured, interest free and has no fixed repayment date or repayment schedule.
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Events after the financial period |
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