SUPAPAK LIMITED

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 1535407

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		87,014		87,621

			87,014		87,621
CURRENT ASSETS
Stocks	6	131,663		133,851
Debtors	7	284,743		277,183
Cash at bank and in hand		8,371		353

		424,777		411,387
Creditors: Amounts Falling Due Within One Year	8	(435,945 )		(432,250 )

NET CURRENT ASSETS (LIABILITIES)			(11,168 )		(20,863 )

TOTAL ASSETS LESS CURRENT LIABILITIES			75,846		66,758

Creditors: Amounts Falling Due After More Than One Year	9		(12,529 )		-

NET ASSETS			63,317		66,758

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			63,217		66,658

SHAREHOLDERS' FUNDS			63,317		66,758

Page 1

SUPAPAK LIMITED

Balance Sheet (continued)

As at 31 December 2017

For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Stuart Nowell

21/09/2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net 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 the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	10% Reducing balance
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	10% Reducing balance

1.4. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

1.5. Stocks and Work in Progress

Stocks and work in progress 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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SUPAPAK LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

1.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

5. Tangible Assets


	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 January 2017	87,871	78,875	54,394	221,140
Additions	-	26,545	-	26,545
Disposals	-	(24,350 )	-	(24,350 )

As at 31 December 2017	87,871	81,070	54,394	223,335

Depreciation
As at 1 January 2017	48,052	39,512	45,955	133,519
Provided during the period	7,207	14,387	1,758	23,352
Disposals	-	(20,550 )	-	(20,550 )

As at 31 December 2017	55,259	33,349	47,713	136,321

Net Book Value
As at 31 December 2017	32,612	47,721	6,681	87,014

As at 1 January 2017	39,819	39,363	8,439	87,621

Page 4

SUPAPAK LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

6. Stocks

	2017	2016
	£	£
Stock - materials and work in progress	131,663	133,851

	131,663	133,851

7. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	262,576	257,031
Prepayments and accrued income	3,219	3,219
Other debtors	11,683	11,683
Corporation tax recoverable assets	2,015	-
Deferred tax current asset	5,250	5,250

	284,743	277,183

8. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Net obligations under finance lease and hire purchase contracts	13,234	12,551
Trade creditors	198,280	187,641
Bank loans and overdrafts	-	14,529
Corporation tax	-	2,119
Other taxes and social security	5,247	4,709
VAT	9,802	7,995
Accruals and deferred income	328	-
Director's loan account	20,000	20,000
Factoring advances	189,054	182,706

	435,945	432,250

9. Creditors: Amounts Falling Due After More Than One Year

	2017	2016
	£	£
Net obligations under finance lease and hire purchase contracts	12,529	-

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SUPAPAK LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

10. Obligations Under Finance Leases and Hire Purchase

	2017	2016
	£	£
The maturity of these amounts is as follows:
Amounts Payable:
Within one year	13,234	12,551
Between one and five years	12,529	-

	25,763	12,551

	25,763	12,551

11. Share Capital

	2017		2016
Allotted, Called up and fully paid	100		100

12. Ultimate Controlling Party

The company's ultimate controlling party is Mr S Nowell.

13. General Information

SUPAPAK LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 1535407. The registered office is 24 Jubilee Way, Shipley, Bradford, West Yorkshire, BD18 1QG.

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