Superior_Cutting_Limited_31_Dec_2024_companies_house_set_of

Superior Cutting Limited

Report to the board of directors on the preparation of the unaudited statutory financial statements of Superior Cutting Limited

Year ended

31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements

Superior Cutting Limited

for the year ended

31 December 2024

which comprise the income statement, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.

This report is made solely to the Board of Directors of

Superior Cutting Limited

, as a body. Our work has been undertaken solely to prepare for your approval the

financial statements

Superior Cutting Limited

and state those matters that we have agreed to state to the Board of Directors of

Superior Cutting Limited

, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than

Superior Cutting Limited

and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that

Superior Cutting Limited

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

Superior Cutting Limited

. You consider that

Superior Cutting Limited

is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Superior Cutting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A G Smith & Co Ltd

Chartered Certified Accountants

Unit 8 Laceby Business Park

Grimsby Road

Laceby

North East Lincolnshire

DN37 7DP

United Kingdom

Date:

29 August 2025

Superior Cutting Limited

Statement of Financial Position

31 December 2024

		2024		2023
	Note	£		£
Fixed assets
Tangible assets	5	752,029		342,586
Current assets
Stocks		10,000		9,750
Debtors	6	152,862		535,632
Cash at bank and in hand		391,071		494,883
		553,933		1,040,265
Creditors: amounts falling due within one year	7	(553,654	)	(1,009,683	)
Net current assets		279		30,582
Total assets less current liabilities		752,308		373,168
Creditors: amounts falling due after more than one year	8	(4,405	)	(14,405	)
Provisions for liabilities		(26,453	)	(34,601	)
Net assets		721,450		324,162
Capital and reserves
Called up share capital		100		2
Profit and loss account		721,350		324,160
Shareholders funds		721,450		324,162

For the 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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

financial statements

have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.

In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

29 August 2025

, and are signed on behalf of the board by:

H Terporter

Director

Company registration number:

08817347

Superior Cutting Limited

Notes to the Financial Statements

Year ended

31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Unit 1, Link House Estate Road No.1

South Humberside Industrial Estate

Grimsby

N E Lincolnshire

DN31 2TB

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services 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.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery	20% reducing balance
Fixtures and fittings	20% reducing balance
Office equipment	20% straight line

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. Investment property values are obtained annually by way of a director's valuation. No depreciation is provided for and any changes in fair value are recognised in the income and expenditure account.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2023:

5 Tangible assets

	Land and buildings	Plant and machinery etc.		Total
	£	£		£
Cost
At 1 January 2024	198,056	249,473		447,529
Additions	443,136	-		443,136
Disposals	-	(24,867	)	(24,867	)
At 31 December 2024	641,192	224,606		865,798
Depreciation
At 1 January 2024	-	104,943		104,943
Charge	-	27,788		27,788
Disposals	-	(18,962	)	(18,962	)
At 31 December 2024	-	113,769		113,769
Carrying amount
At 31 December 2024	641,192	110,837		752,029
At 31 December 2023	198,056	144,530		342,586

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Land and buildings	Land and buildings
	2024	2023
	£	£
Aggregate historical cost	641,192	198,056
Carrying amount	641,192	198,056

Investment property values are obtained annually by way of a director's valuation.

Investment property

Included in land and buildings are the following amounts in relation to investment properties:

	2024
	£
Carrying amount at 1 January 2024	198,056
Additions	443,136
Carrying amount at 31 December 2024	641,192

6 Debtors

	2024	2023
	£	£
Trade debtors	123,901	535,086
Other debtors	28,961	546
	152,862	535,632

7 Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	337,007	895,244
Taxation and social security	189,055	92,355
Other creditors	17,592	12,084
	553,654	1,009,683

8 Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans and overdrafts	4,405		14,405