SUPERSERVICE LIMITED Filleted accounts for Companies House (small and micro)

SUPERSERVICE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03412690

SUPERSERVICE LIMITED

Filleted Financial Statements

31 December 2021

SUPERSERVICE LIMITED

Statement of Financial Position

31 December 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	5		5,552	4,949

Current assets

Stocks		10,922	8,120
Debtors	6	312,745	298,550
Cash at bank and in hand		38,651	70,967
		---------	---------
		362,318	377,637

Creditors: amounts falling due within one year	7	74,313		97,906
		---------		---------
Net current assets			288,005	279,731
			---------	---------
Total assets less current liabilities			293,557	284,680
			---------	---------
Net assets			293,557	284,680
			---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	293,555	284,678
	---------	---------
Shareholders funds	293,557	284,680
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 15 August 2022 , and are signed on behalf of the board by:

Mr A Bendahan

Director

Company registration number: 03412690

SUPERSERVICE LIMITED

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tudor House, Llanvanor Road, London, NW2 2AQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% straight line
Fixtures and fittings	-	20% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2020: 4 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2021	89,382	12,919	102,301
Additions	3,341	432	3,773
	--------	--------	---------
At 31 December 2021	92,723	13,351	106,074
	--------	--------	---------
Depreciation
At 1 January 2021	89,381	7,971	97,352
Charge for the year	501	2,669	3,170
	--------	--------	---------
At 31 December 2021	89,882	10,640	100,522
	--------	--------	---------
Carrying amount
At 31 December 2021	2,841	2,711	5,552
	--------	--------	---------
At 31 December 2020	1	4,948	4,949
	--------	--------	---------

6. Debtors

	2021	2020
	£	£
Other debtors	312,745	298,550
	---------	---------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	44,064	53,011
Trade creditors	11,492	24,246
Social security and other taxes	1,659	1,971
Other creditors - net wages	–	1,580
Other creditors	17,098	17,098
	--------	--------
	74,313	97,906
	--------	--------

8. Summary audit opinion

The auditor's report for the year dated 15 August 2022 was unqualified.

The senior statutory auditor was Phillip Smulovitch , for and on behalf of GK & Co. LLP .

9. Controlling party

The ultimate parent company is Richtone Developments Ltd., a company incorporated in British Virgin Islands.