Superior Sections Ltd - Accounts to registrar - small 17.2
Superior Sections Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| SUPERIOR SECTIONS LTD |
| SUPERIOR SECTIONS LTD (REGISTERED NUMBER: 06297001) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| SUPERIOR SECTIONS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Kings Chambers |
| Queens Cross |
| High Street |
| Dudley |
| West Midlands |
| DY1 1QT |
| SUPERIOR SECTIONS LTD (REGISTERED NUMBER: 06297001) |
| BALANCE SHEET |
| 31 DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| SUPERIOR SECTIONS LTD (REGISTERED NUMBER: 06297001) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| SUPERIOR SECTIONS LTD (REGISTERED NUMBER: 06297001) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Superior Sections Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Factoring |
| The company factors its trade debts to a bank. |
| Separate presentation has been adopted where the gross debts are shown on the balance sheet as assets and |
| proceeds from factors are included within creditors as a liability. |
| SUPERIOR SECTIONS LTD (REGISTERED NUMBER: 06297001) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Amount due to related companies | 250,560 | 250,560 |
| Advances from factor | 1,295,527 | 1,050,438 |
| Accrued expenses |
| 7. | PROVISIONS FOR LIABILITIES |
| 2016 | 2015 |
| £ | £ |
| Deferred tax | 155,417 | - |
| SUPERIOR SECTIONS LTD (REGISTERED NUMBER: 06297001) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 7. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Charge to Income Statement during year |
| Balance at 31 December 2016 |
| 8. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £20,000 were paid to the directors . |
Sales of goods and services |
Purchases of goods and services |
Amount owed from (to) related party |
| 2016 | 2015 | 2016 | 2015 | 2016 | 2015 |
| £ | £ | £ | £ | £ | £ |
| Parent: |
| Superior Group Holdings Limited | 266,000 |
168,000 |
46,523 |
22,723 |
| Subsidiary: |
| Old Superior Limited | (239,534 |
) |
(239,534 |
) |
| Common shareholders: |
| CRF Sections Limited | 86,895 |
86,895 |
1,096,594 |
760,912 |
43,608 |
21,471 |
| Amphion Construction Limited | 17,869 |
14,590 |
(3,959 |
) |
162,869 |
| CAF Limited | 5,115 | 2,593 | 14,916 | 5,937 | 131,238 | 23,820 |
| 109,879 | 104,078 | 1,377,510 | 934,849 | (22,124 | ) | (8,651 | ) |
| 9. | ULTIMATE CONTROLLING PARTY |
| The directors considers the ultimate holding company to be Superior Group Holdings Limited a company |
| incorporated in England. |