Supersmith Limited

(Registration number: 12275617)
Balance Sheet as at 31 March 2025

	Note	31 March 2025 £	31 October 2023 £
Fixed assets
Intangible assets	4	7,481	-
Tangible assets	5	4,129	9
		11,610	9
Current assets
Debtors	6	79,758	33,485
Cash at bank and in hand		109,944	4,821
		189,702	38,306
Creditors: Amounts falling due within one year	7	(463,845)	(242,096)
Net current liabilities		(274,143)	(203,790)
Net liabilities		(262,533)	(203,781)
Capital and reserves
Called up share capital	8	5	4
Share premium reserve		339,999	85,000
Profit and loss account		(602,537)	(288,785)
Total equity		(262,533)	(203,781)

Supersmith Limited

(Registration number: 12275617)
Balance Sheet as at 31 March 2025

For the financial period ending 31 March 2025 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 period 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 26 September 2025 and signed on its behalf by:
 

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

E Morgan
Director

Supersmith Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

1	Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as Momentum Scooters Limited.

The address of its registered office is:
1st Floor
25 King Street
Bristol
BS1 4PB
United Kingdom

2	Accounting policies

Summary of significant 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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
 

As of March 2025, the company has net current liabilities of £325,493. After reviewing the company's forecasts and projections and considering the economic conditions and possible changes in trading performance, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and confirms that the shareholders will support the company for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Disclosure of long or short period

These financial statements have been prepared for the lenghtened period from 01 November 2023 to 31 March 2025. The comparative amounts including the related notes are therefore not entirely comparable.

Supersmith Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Interest Income

Interest income is recognised in profit or loss using the effective interest method.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Computer equipment	33% straight line
Bicycles	Over 1 year

Supersmith Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

Intangible fixed assets

Separately acquired trademarks and licences are shown at historical cost, less any subsequent accumulated amortisation and adjustments for impairment losses.

Amortisation will commence once the asset is in use.

Research and development costs

Research and development costs are written off to profit or loss in the year incurred.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 creditors are recognised initially at the transaction price and subsequently measured at amortised 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.

Supersmith Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4 (2023 - 4).

4	Intangible fixed assets

	Trademarks £
Cost
At 1 November 2023	-
Additions acquired separately	7,481
At 31 March 2025	7,481
Amortisation
At 1 November 2023	-
Amortisation charge	-
At 31 March 2025	-
Carrying amount
At 31 March 2025	7,481
At 31 October 2023	-

Supersmith Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

5	Tangible fixed assets

	Computer equipment  £	Bicycles £	Total £
Cost
At 1 November 2023	1,141	-	1,141
Additions	4,188	3,016	7,204
Disposals	-	(1,982)	(1,982)
At 31 March 2025	5,329	1,034	6,363
Depreciation
At 1 November 2023	1,132	-	1,132
Charge for the period	326	2,758	3,084
Eliminated on disposal	-	(1,982)	(1,982)
At 31 March 2025	1,458	776	2,234
Carrying amount
At 31 March 2025	3,871	258	4,129
At 31 October 2023	9	-	9

6	Debtors: amounts falling due within one year

	31 March 2025 £	31 October 2023 £
Prepayments	2,222	305
Other debtors	14,576	5,436
Corporation tax	62,960	27,744
	79,758	33,485

Supersmith Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

7

Creditors

	31 March 2025  £	31 October 2023 £
Amounts falling due within one year
Trade creditors	49,422	500
Taxation and social security	7,248	4,656
Accruals & deferred income	8,235	5,000
Directors' loan accounts	398,940	231,940
	463,845	242,096

8	Share capital

Allotted, called up and fully paid shares

	31 March 2025		31 October 2023
	No.	£	No.	£
Ordinary A shares of £0.0001 (2023 - £0.001) each	-	-	2,984	2.98
Ordinary B shares of £0.0001 (2023 - £0.001) each	-	-	676	0.68
Ordinary C shares of £0.0001 (2023 - £0.001) each	-	-	340	0.34
Ordinary shares of £0.0001 (2023 - £0.001) each	45,100	4.51	-	-
	45,100	5	4,000	4

• There was a subdivision of ordinary A, B and C shares from £0.001 to £0.0001 during the year increasing the number of shares from 4,000 to 40,000.
• 5100 shares at £50 were alloted during the year with a nominal value of £0.0001 giving rise to a share premium of £254,999.
• All A,B and C shares were then reclassified to as ordinary shares.

Supersmith Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2023 to 31 March 2025

9	Loans and borrowings

Current loans and borrowings

	31 March 2025 £	31 October 2023 £
Directors' loan accounts	398,940	231,940