ACCOUNTS - Final Accounts preparation


078739182014-10-01falsetrue2015-09-302015-09-30078739182014-10-012015-09-30078739182015-09-30078739182014-09-3007873918 c:OrdinaryShareClass1 2015-09-3007873918 c:OrdinaryShareClass1 2014-09-3007873918 c:OrdinaryShareClass1 2014-10-012015-09-3007873918 c:Director1 2014-10-012015-09-3007873918 c:Director3 2014-10-012015-09-3007873918 d:OfficeEquipment 2014-10-012015-09-3007873918 d:PlantMachinery 2014-10-012015-09-3007873918 d:ProvisionsForDeferredTaxation 2014-09-30xbrli:sharesiso4217:GBP

Registered number: 07873918









SUPERIOR PRODUCTS UK LTD


UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

 
SUPERIOR PRODUCTS UK LTD
REGISTERED NUMBER: 07873918

ABBREVIATED BALANCE SHEET
AS AT 30 SEPTEMBER 2015

2015
2014
Note
£
£
£
£
 
FIXED ASSETS





 
Tangible assets
 
2
8,007
9,831
 
CURRENT ASSETS





 
Stocks
193,175
197,531

 
Debtors
106,396
90,266

 
Cash at bank
83,976
34,363







 
383,547
322,160
 
CREDITORS: amounts falling due within one year
(247,907)
(235,152)
 
NET CURRENT ASSETS

135,640

87,008
 
TOTAL ASSETS LESS CURRENT LIABILITIES
143,647
96,839
 
CREDITORS: amounts falling due after more than one year
-

(30,000)
 
PROVISIONS FOR LIABILITIES





 
Deferred tax
(1,601)
(1,966)

NET ASSETS



 142,046


 64,873
  
CAPITAL AND RESERVES

 
Called up share capital
3
90
90
 
Profit and loss account
141,956
64,783
 
SHAREHOLDERS' FUNDS
 

 142,046

 64,873


The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 September 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.


Page 1

 
SUPERIOR PRODUCTS UK LTD
 

ABBREVIATED BALANCE SHEET (continued)
AS AT 30 SEPTEMBER 2015

The abbreviated accounts, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 10 December 2015.





P J Scott
T Scott
Director
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
SUPERIOR PRODUCTS UK LTD
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.3
Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.  Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & machinery
-
25% Reducing Balance
Office equipment
-
25% Reducing Balance

1.4
Operating leases

Rentals under operating leases are charged to the Profit and Loss Account on a straight line basis over the lease term.

1.5
Stocks

Stocks 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.

1.6
Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if 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.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.

Page 3

 
SUPERIOR PRODUCTS UK LTD
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015

2.TANGIBLE FIXED ASSETS



£


Cost 


At 1 October 2014
20,086

Additions
634


At 30 September 2015

20,720



Depreciation


At 1 October 2014
10,255

Charge for the year
2,458


At 30 September 2015

12,713




Net book value


At 30 September 2015
 8,007


At 30 September 2014

 9,831


3.SHARE CAPITAL
        2015
        2014
        £

        £

Allotted, called up and fully paid



90 Ordinary shares of £1 each
 90
 90

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