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Registration number: 04908636

Suparot Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Suparot Limited

Contents

Company Information

1

Directors' Report

2

Statement of Comprehensive Income

3

Statement of Financial Position

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 14

 

Suparot Limited

Company Information

Directors

T Berglund

J Naish

AJ Sperrin

R E Erkkila

Company secretary

J Naish

M Jeffery

Registered office

Willmott House
12 Blacks Road
London
W6 9EU

Accountants

Shaw Gibbs Limited Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

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:
 

T Berglund

J Naish - Company secretary and director

AJ Sperrin

R E Erkkila

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 Board on 18 July 2025 and signed on its behalf by:
 

.........................................
AJ Sperrin
Director

 

Suparot Limited

Statement of comprehensive income
for the Year Ended 30 September 2024

Note

2024
£

2023
£

Revenue

3

21,000

37,000

Cost of sales

 

(5,000)

(14,000)

Gross profit

 

16,000

23,000

Administrative expenses

 

(66,062)

(24,693)

Operating loss

(50,062)

(1,693)

(Loss)/gain on financial assets at fair value through profit and loss account

 

(534,597)

64,151

Dividend income

 

215,000

-

Income from listed investments

 

85,535

85,536

Other interest receivable and similar income

4

40,658

2,500

Interest payable and similar expenses

5

(22,298)

(1,544)

(Loss)/profit on ordinary activities before taxation

 

(265,764)

148,950

Taxation

7

120,191

(34,401)

(Loss)/profit for the financial year

 

(145,573)

114,549

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

Note

2024
£

2023
£

Fixed assets

 

Investments

8

2,202,563

922,858

Listed investments

9

3,122,051

3,656,648

 

5,324,614

4,579,506

Current assets

 

Receivables

10

952,784

1,122,830

Cash at bank

11

1,517

92,834

 

954,301

1,215,664

Payables: Amounts falling due within one year

12

(3,647,484)

(2,745,467)

Net current liabilities

 

(2,693,183)

(1,529,803)

Total assets less current liabilities

 

2,631,431

3,049,703

Provisions for liabilities

13

(51,965)

(185,614)

Net assets

 

2,579,466

2,864,089

Equity

 

Called up share capital

14

62

62

Share premium reserve

14

1,475,967

1,475,967

Other reserves

14

155,892

556,841

Retained earnings

14

947,545

831,219

Total equity

 

2,579,466

2,864,089

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:

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 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 Board on 18 July 2025 and signed on its behalf by:

.........................................

AJ Sperrin
Director

 

Suparot Limited

Statement of Changes in Equity
for the Year Ended 30 September 2024

Called up share capital
£

Share premium
£

Other reserves
£

Retained earnings
£

Total
£

At 1 October 2023

62

1,475,967

556,841

831,219

2,864,089

Loss for the year

-

-

-

(145,573)

(145,573)

Total comprehensive income

-

-

-

(145,573)

(145,573)

Dividends

-

-

-

(139,050)

(139,050)

Transfers

-

-

(400,949)

400,949

-

At 30 September 2024

62

1,475,967

155,892

947,545

2,579,466

Called up share capital
£

Share premium
£

Other reserves
£

Retained earnings
£

Total
£

At 1 October 2022

61

1,453,468

508,728

834,308

2,796,565

Profit for the year

-

-

-

114,549

114,549

Total comprehensive income

-

-

-

114,549

114,549

Dividends

-

-

-

(69,525)

(69,525)

New share capital issued

1

22,499

-

-

22,500

Transfers

-

-

48,113

(48,113)

-

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

1

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.

2

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

The company and its subsidiaries comprise a small group. The company has therefore taken advantage of the exemption provided in Section 399 of the Companies Act 2006 not to prepare group financial statements and accordingly these financial statements present information about the company as a single undertaking.

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)

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)

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

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

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.

4

Interest receivable and similar income

2024
£

2023
£

Interest on loans and borrowings

40,658

2,500

5

Interest payable and similar expenses

2024
£

2023
£

Interest on bank overdrafts and borrowings

22,298

1,544

 

Suparot Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

6

Directors' remuneration

No remuneration was paid to the directors during the year (2023: £nil).

7

Taxation

Tax charged/(credited) in the statement of comprehensive income

2024
£

2023
£

Current taxation

UK corporation tax

13,458

18,363

Total current income tax

13,458

18,363

Deferred taxation

Arising from origination and reversal of timing differences

(133,649)

16,038

Tax (receipt)/expense in the income statement

(120,191)

34,401

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 25% (2023 - 22%).

The differences are reconciled below:

2024
£

2023
£

(Loss)/profit before tax

(265,764)

148,950

Corporation tax at standard rate

(66,441)

32,769

Tax decrease from effect of revenues exempt from taxation

(53,750)

-

UK deferred tax expense relating to changes in tax rates or laws

-

1,932

Decrease from effect of marginal relief

-

(300)

Total tax (credit)/charge

(120,191)

34,401

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Financial assets at fair value through the income statement

51,965

2023

Liability
£

Financial assets at fair value through the income statement

185,614

 

Suparot Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

8

Investments

2024
£

2023
£

Investments in subsidiaries

2,202,563

922,858

£

Subsidiaries

Cost

At 1 October 2023

922,858

Additions

1,279,705

At 30 September 2024

2,202,563

Carrying amount

At 30 September 2024

2,202,563

At 30 September 2023

922,858

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:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Trueline Properties Limited

England & Wales

Ordinary

100%

100%

Willmotts Asset Management Services Limited

England & Wales

Ordinary

50%

0%

 

Suparot Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

9

Listed investments

Listed investments
£

Valuation

At 1 October 2023

3,656,648

Revaluations

(534,597)

At 30 September 2024

3,122,051

Carrying amount

At 30 September 2024

3,122,051

At 30 September 2023

3,656,648

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).

10

Receivables

2024
£

2023
£

Amount due from subsidiary undertaking

499,109

562,149

Other receivables

449,800

553,181

Prepayments and accrued income

3,875

7,500

952,784

1,122,830

11

Cash and cash equivalents

2024
£

2023
£

Cash at bank

1,517

92,834

 

Suparot Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024 (continued)

12

Payables

2024
£

2023
£

Due within one year

Trade payables

-

2,317

Corporation tax

26,821

24,839

Other payables

3,571,063

2,716,016

Accruals

49,600

2,295

3,647,484

2,745,467

13

Provisions for liabilities

Deferred tax
£

At 1 October 2023

185,614

Decrease in existing provisions

(133,649)

At 30 September 2024

51,965

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)

14

Share capital and reserves

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.10 each

290

29

290

29

Redeemable preference shares of £0.10 each

328

33

328

33

618

62

618

62

Rights, preferences and restrictions:


Ordinary shares

(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.

(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.

(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.

(d)

These Shares are not expressed to be redeemable.

Preference Shares

(a)

Offer no right to vote at general meetings and on proposed written resolutions.

(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.

(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.

(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)

15

Dividends

2024

2023

£

£

Interim dividend of £225.00 (2023 - £112.50) per ordinary share

139,050

69,525

 

 

16

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.

17

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.