REGISTERED NUMBER: 01518175 (England and Wales)

Supercrease Limited

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K Houlbrook

Mr C J Miller

Mr C N Freeman

Mr D J Houlbrook

Mrs J A Houlbrook

Mrs A M Freeman

Mr P A Stewart

SECRETARY:

Mr C J Miller

REGISTERED OFFICE:

The Moorings

Waterside Industrial Park

Waterside Road, Stourton

Leeds

West Yorkshire

LS10 1DG

REGISTERED NUMBER:

01518175 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Accountants & Business Advisors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Intangible assets

4

162,602

175,418

Tangible assets

5

98,588

84,657

Investments

6

99,076

17,000

360,266

277,075

CURRENT ASSETS

Stocks

109,915

103,999

Debtors

7

220,203

469,599

Cash at bank and in hand

257,729

59,282

587,847

632,880

CREDITORS

Amounts falling due within one year

8

138,205

108,241

NET CURRENT ASSETS

449,642

524,639

TOTAL ASSETS LESS CURRENT LIABILITIES

809,908

801,714

CREDITORS

Amounts falling due after more than one year

9

(99,934

)

(29,013

)

PROVISIONS FOR LIABILITIES

(19,532

)

(9,098

)

NET ASSETS

690,442

763,603

CAPITAL AND RESERVES

Called up share capital

11

5,000

5,000

Retained earnings

685,442

758,603

SHAREHOLDERS' FUNDS

690,442

763,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

Mr C J Miller - Director

1.	STATUTORY INFORMATION

Supercrease Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Supercrease Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of goods and services excluding value added tax.

Revenue from the sale of goods is recognised when the risks and rewards of ownership have passed to the buyer. Revenue from services are recognised when the service has been provided.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents & licences are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on cost and 15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Fixed assets are initially recorded at cost.

Investments in subsidiaries

Investments in group undertakings are initially recorded at cost with consideration taken for any diminution in value which is expected to be permanent.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Patents &

licences

£

COST

At 1 January 2024

193,490

Additions

21,575

Disposals

(31,011

)

At 31 December 2024

184,054

AMORTISATION

At 1 January 2024

18,072

Amortisation for year

9,329

Eliminated on disposal

(5,949

)

At 31 December 2024

21,452

NET BOOK VALUE

At 31 December 2024

162,602

At 31 December 2023

175,418

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

122,088

68,571

62,630

55,113

308,402

Additions

18,099

26,966

-

-

45,065

At 31 December 2024

140,187

95,537

62,630

55,113

353,467

DEPRECIATION

At 1 January 2024

106,067

51,904

13,720

52,054

223,745

Charge for year

6,487

7,414

15,445

1,788

31,134

At 31 December 2024

112,554

59,318

29,165

53,842

254,879

NET BOOK VALUE

At 31 December 2024

27,633

36,219

33,465

1,271

98,588

At 31 December 2023

16,021

16,667

48,910

3,059

84,657

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

61,781

DEPRECIATION

At 1 January 2024

12,871

Charge for year

15,445

At 31 December 2024

28,316

NET BOOK VALUE

At 31 December 2024

33,465

At 31 December 2023

48,910

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

17,000

Adjustment

82,076

At 31 December 2024

99,076

NET BOOK VALUE

At 31 December 2024

99,076

At 31 December 2023

17,000

The company has established a wholly owned subsidiary in The People's Republic of China which operates under the name of International Garment Innovation Asia Co, Ltd. The principal activity of the company is that of the distributing of textile work aids and associated products.

The adjustment to total cost has been made to reflect the registered capital fund of $170,000 at its original acquisition date of 5 July 2014. The registered capital fund is due for payment by 30 June 2032 and the liability for the unpaid amount is included in Other creditors due after more than one year, converted at the USD$ rate of exchange at the date of acquisition.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

91,877

30,659

Amounts owed by group undertakings

20,105

23,693

Amounts owed by participating interests

55,415

323,433

Other debtors

6,666

44,691

VAT

21,083

20,876

Prepayments and accrued income

25,057

26,247

220,203

469,599

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 10)

10,297

10,297

Trade creditors

59,037

74,116

Corporation tax

19,789

-

Social security and other taxes

10,875

13,848

Other creditors

5,437

708

Accruals and deferred income

32,770

9,272

138,205

108,241

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 10)

858

12,013

Other creditors

99,076

17,000

99,934

29,013

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

10,297

10,297

Between one and five years

858

12,013

11,155

22,310

Non-cancellable

operating leases

2024

2023

£

£

Within one year

71,946

67,127

Between one and five years

37,631

168,161

109,577

235,288

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

5,000

Ordinary

£1

5,000

5,000

12.	RELATED PARTY DISCLOSURES