Company Registration No. 09058671 (England and Wales)
SUPERCAR ITALIA LTD.
Unaudited accounts
for the year ended 29 May 2023
SUPERCAR ITALIA LTD.
Unaudited accounts
Contents
SUPERCAR ITALIA LTD.
Company Information
for the year ended 29 May 2023
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 29 May 2023
Tangible assets
1,673
3,834
Cash at bank and in hand
2,657
20,237
Creditors: amounts falling due within one year
(108,851)
(104,906)
Net current liabilities
(37,714)
(9,020)
Total assets less current liabilities
(36,041)
(5,186)
Creditors: amounts falling due after more than one year
(33,459)
(38,359)
Provisions for liabilities
Net liabilities
(70,043)
(44,088)
Called up share capital
50
50
Profit and loss account
(70,093)
(44,138)
Shareholders' funds
(70,043)
(44,088)
For the year ending 29 May 2023 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.
The financial statements were approved by the Board and authorised for issue on 28 February 2024 and were signed on its behalf by
P W Hakim
Director
Company Registration No. 09058671
SUPERCAR ITALIA LTD.
Notes to the Accounts
for the year ended 29 May 2023
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 £32,687 (2022 : £25,824) 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 29 May 2023
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 30 May 2022
27,899
621
28,520
At 29 May 2023
27,899
921
28,820
At 30 May 2022
24,065
621
24,686
Charge for the year
2,386
75
2,461
At 29 May 2023
26,451
696
27,147
At 29 May 2023
1,448
225
1,673
At 29 May 2022
3,834
-
3,834
Amounts falling due within one year
Trade debtors
12,106
19,586
Other debtors
16,374
16,063
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,900
5,480
Trade creditors
50,815
52,142
Taxes and social security
7,062
5,193
Other creditors
46,074
42,091
SUPERCAR ITALIA LTD.
Notes to the Accounts
for the year ended 29 May 2023
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).
