ACCOUNTS - Final Accounts preparation


07873918SUPERIOR PRODUCTS UK LTD2015-10-012016-09-30falsetrue2016-09-30078739182015-10-012016-09-30078739182016-09-30078739182015-09-3007873918 c:OrdinaryShareClass1 2016-09-3007873918 c:OrdinaryShareClass1 2015-09-3007873918 c:OrdinaryShareClass1 2015-10-012016-09-3007873918 c:Director1 2015-10-012016-09-3007873918 c:Director3 2015-10-012016-09-3007873918 d:OfficeEquipment 2015-10-012016-09-3007873918 d:PlantMachinery 2015-10-012016-09-3007873918 d:ProvisionsForDeferredTaxation 2015-09-30xbrli:sharesiso4217:GBP

Registered number: 07873918









SUPERIOR PRODUCTS UK LTD


UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

 
SUPERIOR PRODUCTS UK LTD
REGISTERED NUMBER: 07873918

ABBREVIATED BALANCE SHEET
AS AT 30 SEPTEMBER 2016

2016
2015
Note
£
£
£
£
 
FIXED ASSETS





 
Tangible assets
 
2
6,855
8,009
 
CURRENT ASSETS





 
Stocks
221,493
193,175

 
Debtors
173,756
106,393

 
Cash at bank
125,943
83,976







 
521,192
383,544
 
CREDITORS: amounts falling due within one year
(267,158)
(247,902)
 
NET CURRENT ASSETS

254,034

135,642
 
TOTAL ASSETS LESS CURRENT LIABILITIES
260,889
143,651
 
PROVISIONS FOR LIABILITIES





 
Deferred tax
(1,370)
(1,601)

NET ASSETS



 259,519


 142,050
  
CAPITAL AND RESERVES

 
Called up share capital
3
90
90
 
Profit and loss account
259,429
141,960
 
SHAREHOLDERS' FUNDS
 

 259,519

 142,050


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 2016 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.


The abbreviated accounts, which have been prepared in accordance with the special 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 11 January 2017.





P J Scott
T Scott
Director
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
SUPERIOR PRODUCTS UK LTD
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016

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 January 2015).

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 2

 
SUPERIOR PRODUCTS UK LTD
 

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016

2.TANGIBLE FIXED ASSETS



£


Cost 


At 1 October 2015
20,721

Additions
848


At 30 September 2016

21,569



Depreciation


At 1 October 2015
12,712

Charge for the year
2,002


At 30 September 2016

14,714




Net book value


At 30 September 2016
 6,855


At 30 September 2015

 8,009


3.SHARE CAPITAL
        2016
        2015
        £

        £

Allotted, called up and fully paid



90 Ordinary shares of £1 each
 90
 90

Page 3