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Registered number: 11503171
Supreme Interior Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
CJM Associates
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11503171
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 46,124 21,417
46,124 21,417
CURRENT ASSETS
Stocks 5 120,069 155,887
Debtors 6 105,601 89,626
Cash at bank and in hand 1,842 7,889
227,512 253,402
Creditors: Amounts Falling Due Within One Year 7 (176,678 ) (244,755 )
NET CURRENT ASSETS (LIABILITIES) 50,834 8,647
TOTAL ASSETS LESS CURRENT LIABILITIES 96,958 30,064
Creditors: Amounts Falling Due After More Than One Year 8 (19,144 ) (4,336 )
NET ASSETS 77,814 25,728
CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium account 10,000 10,000
Profit and Loss Account 67,714 15,628
SHAREHOLDERS' FUNDS 77,814 25,728
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Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Joshua Paul
Director
13/11/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Supreme Interior Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11503171 . The registered office is 2nd Floor Lakeside Point, Lakeside Business Park, , Walkmill Lane, Cannock, WS11 0XE.
The presentation currency of the financial statements is Pound Sterling (£)
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 32,755 1,628 34,383
Additions 28,103 2,000 30,103
As at 31 August 2024 60,858 3,628 64,486
Depreciation
As at 1 September 2023 12,040 926 12,966
Provided during the period 5,179 217 5,396
As at 31 August 2024 17,219 1,143 18,362
Net Book Value
As at 31 August 2024 43,639 2,485 46,124
As at 1 September 2023 20,715 702 21,417
5. Stocks
2024 2023
£ £
Work in progress 120,069 155,887
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 61,931 62,109
Other debtors 43,670 27,517
105,601 89,626
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,300 4,980
Trade creditors 69,415 85,065
Bank loans and overdrafts 14,720 25,299
Other loans 58,768 115,292
Other creditors 12,718 2,182
Taxation and social security 16,757 11,937
176,678 244,755
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,144 4,336
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,300 4,980
Later than one year and not later than five years 19,144 4,336
23,444 9,316
23,444 9,316
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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