Company Registration No. 09058671 (England and Wales)
SUPERCAR ITALIA LTD.
Unaudited accounts
for the year ended 31 May 2018
SUPERCAR ITALIA LTD.
Unaudited accounts
Contents
SUPERCAR ITALIA LTD.
Company Information
for the year ended 31 May 2018
Company Number
09058671 (England and Wales)
Registered Office
UNIT 12 AIRPORT TRADING ESTATE WIRELESS
BIGGIN HILL
WESTERHAM
KENT
TN16 3BW
Accountants
MDG & CO
34 Pinewood Drive
Orpington
Kent
BR6 9NL
SUPERCAR ITALIA LTD.
Statement of financial position
as at 31 May 2018
Intangible assets
1,000
2,000
Tangible assets
4,023
3,383
Cash at bank and in hand
434
4,271
Creditors: amounts falling due within one year
(79,303)
(74,135)
Net current liabilities
(60,113)
(46,163)
Total assets less current liabilities
(55,090)
(40,780)
Creditors: amounts falling due after more than one year
(5,576)
-
Provisions for liabilities
Net liabilities
(61,430)
(41,457)
Called up share capital
50
50
Profit and loss account
(61,480)
(41,507)
Shareholders' funds
(61,430)
(41,457)
For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 28 February 2019.
P W Hakim
Director
Company Registration No. 09058671
SUPERCAR ITALIA LTD.
Notes to the Accounts
for the year ended 31 May 2018
SUPERCAR ITALIA LTD. is a private company, limited by shares, registered in England and Wales, registration number 09058671. The registered office is UNIT 12 AIRPORT TRADING ESTATE WIRELESS , BIGGIN HILL, WESTERHAM, KENT, TN16 3BW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straightline
Fixtures & fittings
25% straightline
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Although the balance sheet is insolvent, included within the balance sheet is an amount of £55,985 (2017 : £55,987) owed to the shareholders, which they do not intend to withdraw in the foreseeable future.
SUPERCAR ITALIA LTD.
Notes to the Accounts
for the year ended 31 May 2018
4
Intangible fixed assets
Other
Website development cost.
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2017
11,164
621
11,785
At 31 May 2018
15,949
621
16,570
At 1 June 2017
7,937
465
8,402
Charge for the year
3,989
156
4,145
At 31 May 2018
11,926
621
12,547
At 31 May 2018
4,023
-
4,023
At 31 May 2017
3,227
156
3,383
Trade debtors
4,453
15,255
Other debtors
14,303
8,446
7
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
7,141
-
Trade creditors
7,451
10,559
Taxes and social security
7,326
6,844
Other creditors
57,385
56,732
SUPERCAR ITALIA LTD.
Notes to the Accounts
for the year ended 31 May 2018
8
Creditors: amounts falling due after more than one year
2018
2017
9
Average number of employees
During the year the average number of employees was 2 (2017: 2).
