Caseware UK (AP4) 2016.0.208 2016.0.208 2018-03-312018-03-312018-03-31falsefalsefalse2017-04-01 08849032 2017-04-01 2018-03-31 08849032 2016-04-01 2017-03-31 08849032 2018-03-31 08849032 2017-03-31 08849032 2016-04-01 08849032 c:Director1 2017-04-01 2018-03-31 08849032 c:Director2 2017-04-01 2018-03-31 08849032 c:Director3 2017-04-01 2018-03-31 08849032 c:Director4 2017-04-01 2018-03-31 08849032 c:RegisteredOffice 2017-04-01 2018-03-31 08849032 d:PlantMachinery 2017-04-01 2018-03-31 08849032 d:FurnitureFittings 2017-04-01 2018-03-31 08849032 d:OfficeEquipment 2017-04-01 2018-03-31 08849032 d:ComputerEquipment 2017-04-01 2018-03-31 08849032 d:CurrentFinancialInstruments 2018-03-31 08849032 d:CurrentFinancialInstruments 2017-03-31 08849032 d:Non-currentFinancialInstruments 2018-03-31 08849032 d:Non-currentFinancialInstruments 2017-03-31 08849032 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 08849032 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 08849032 d:ShareCapital 2018-03-31 08849032 d:ShareCapital 2017-03-31 08849032 d:ShareCapital 2016-04-01 08849032 d:RetainedEarningsAccumulatedLosses 2017-04-01 2018-03-31 08849032 d:RetainedEarningsAccumulatedLosses 2018-03-31 08849032 d:RetainedEarningsAccumulatedLosses 2016-04-01 2017-03-31 08849032 d:RetainedEarningsAccumulatedLosses 2017-03-31 08849032 d:RetainedEarningsAccumulatedLosses 2016-04-01 08849032 c:OrdinaryShareClass1 2017-04-01 2018-03-31 08849032 c:OrdinaryShareClass1 2018-03-31 08849032 c:FRS102 2017-04-01 2018-03-31 08849032 c:Audited 2017-04-01 2018-03-31 08849032 c:FullAccounts 2017-04-01 2018-03-31 08849032 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 08849032 c:Consolidated 2018-03-31 08849032 c:ConsolidatedGroupCompanyAccounts 2017-04-01 2018-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08849032










BLUE APPLE CATERING HOLDINGS LIMITED










DIRECTORS' REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

COMPANY INFORMATION


DIRECTORS
B Allanson 
R Toms 
R Millar 
J Evans 




REGISTERED NUMBER
08849032



REGISTERED OFFICE
Reading Bridge House
George Street

Reading

Berkshire

RG1 8LS




INDEPENDENT AUDITOR
James Cowper Kreston
Chartered Accountants and Statutory Auditor

Reading Bridge House

George Street

Reading

Berkshire

RG1 8LS





 
BLUE APPLE CATERING HOLDINGS LIMITED
 

CONTENTS



Page
Group strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Consolidated profit and loss account
7
Consolidated balance sheet
8
Company balance sheet
9
Consolidated statement of changes in equity
10
Company statement of changes in equity
11
Consolidated Statement of cash flows
12
Notes to the financial statements
13 - 26


 
BLUE APPLE CATERING HOLDINGS LIMITED
 

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2018

BUSINESS REVIEW
 
The results of the period and financial position of the group are as shown in the annexed financial statements.
The group achieved substantial growth in the year, with sales turnover increasing by 25% as a result of new contract gains together with good client retention across Blue Apple’s client base. This welcomed growth has been achieved against a backdrop of low growth in the wider economy and in an increasingly competitive marketplace. The benefits of a personalised offer allied to great food and service has raised the profile of Blue Apple in the contract catering arena, resulting in industry recognition as Contract Caterer of the Year. 
Net profit this year was affected by initial start-up costs for new business gains and planned investment in additional personnel and infrastructure, putting the business on a sound footing for future development.
The balance sheet was further strengthened during the year, showing improvements in both cash and net asset values.
The directors look forward to future opportunities to develop the business and to build on this year’s encouraging results.

PRINCIPAL RISKS AND UNCERTAINTIES
 
The group uses various financial instruments including cash and items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the group's operations.
The existence of these financial instruments exposes the group to a number of financial risks which are described in more detail below.
The main risks arising from the group's financial statements are liquidity risk and credit risk.
Liquidity risk
The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet forseeable needs to invest cash assets safely and profitably.
Credit risk
The group's principal financial asset is cash.

FINANCIAL KEY PERFORMANCE INDICATORS
 
The group uses key performance indicators suitable for the size and nature of the business. The key financial performance indicators are turnover, margin and profit before tax.

OTHER KEY PERFORMANCE INDICATORS
 
Internally, management use a variety of non-financial key performance indicators including new customer take-ons and unit performance indicators. These are monitored and reported weekly. 


This report was approved by the board and signed on its behalf.


................................................
B Allanson
Director

Date: 16 October 2018

Page 1

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2018

The directors present their report and the financial statements for the year ended 31 March 2018.

PRINCIPAL ACTIVITIES

The principal activity of the group during the period under review was that of a holding company.
The principal activity of the subsidiary group was that of the supply of catering services.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £175,498 (2017: £230,820).

Dividends paid during the year amounted to £nil (2017: £150,800).

DIRECTORS

The directors who served during the year were:

B Allanson 
R Toms 
R Millar 
J Evans 

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 2

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018


DISCLOSURE OF INFORMATION TO AUDITOR

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditor is aware of that information.

POST BALANCE SHEET EVENTS

There have been no significant events affecting the Group since the year end.

AUDITOR

The auditor, James Cowper Krestonwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 
 



................................................
B Allanson
Director

Date: 16 October 2018

Page 3

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF BLUE APPLE CATERING HOLDINGS LIMITED
 

OPINION


We have audited the financial statements of Blue Apple Catering Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2018, which comprise the Group Profit and loss account, the Group and Company Balance sheets, the Group Statement of cash flows, the Group and Company Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 31 March 2018 and of the Group's profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.



BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


CONCLUSIONS RELATING TO GOING CONCERN


We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:


the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Group's or the parent Company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.



OTHER INFORMATION


The directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statementsour responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the
Page 4

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF BLUE APPLE CATERING HOLDINGS LIMITED (CONTINUED)


work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.



MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

the parent Company financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.


RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the Directors' responsibilities statement on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF BLUE APPLE CATERING HOLDINGS LIMITED (CONTINUED)


AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.




USE OF OUR REPORT
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Darren O'Connor BSc (Hons) FCCA ACA (Senior Statutory Auditor)
  
for and on behalf of
James Cowper Kreston
 
Chartered Accountants and Statutory Auditor
  
Reading Bridge House
George Street
Reading
Berkshire
RG1 8LS

29 October 2018
Page 6

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2018

2018
2017
Note
£
£

Turnover
 4 
15,185,251
12,183,047

Cost of sales
  
(12,678,149)
(9,805,042)

Gross profit
  
2,507,102
2,378,005

Administrative expenses
  
(2,244,356)
(2,056,016)

Other operating income
  
3,748
24,025

Operating profit
 5 
266,494
346,014

Interest receivable and similar income
  
150
636

Interest payable and similar expenses
  
(3,472)
(10,130)

Profit before tax
  
263,172
336,520

Tax on profit
 8 
(87,674)
(105,700)

Profit for the financial year
  
175,498
230,820

Profit for the year attributable to:
  

Owners of the parent
  
175,498
230,820

  
175,498
230,820

There were no recognised gains and losses for 2018 or 2017 other than those included in the consolidated profit and loss account.

The notes on pages 13 to 26 form part of these financial statements.

Page 7

 
BLUE APPLE CATERING HOLDINGS LIMITED
REGISTERED NUMBER: 08849032

CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Intangible assets
 10 
1,125,909
1,313,560

Tangible assets
 12 
101,360
95,978

Investments
 13 
2
2

  
1,227,271
1,409,540

Current assets
  

Stocks
 14 
414,593
323,426

Debtors: amounts falling due within one year
 15 
2,264,289
1,515,413

Cash at bank and in hand
 16 
811,242
689,669

  
3,490,124
2,528,508

Creditors: amounts falling due within one year
 17 
(2,880,886)
(2,264,552)

Net current assets
  
 
 
609,238
 
 
263,956

Total assets less current liabilities
  
1,836,509
1,673,496

Creditors: amounts falling due after more than one year
 18 
-
(10,827)

Provisions for liabilities
  

Deferred taxation
 21 
(13,273)
(14,931)

  
 
 
(13,273)
 
 
(14,931)

Net assets
  
1,823,236
1,647,738


Capital and reserves
  

Called up share capital 
 22 
1,575,000
1,575,000

Profit and loss account
 23 
248,236
72,738

  
1,823,236
1,647,738


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
B Allanson
Director

Date: 16 October 2018

The notes on pages 13 to 26 form part of these financial statements.

Page 8

 
BLUE APPLE CATERING HOLDINGS LIMITED
REGISTERED NUMBER: 08849032

COMPANY BALANCE SHEET
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Investments
 13 
2,657,702
2,657,702

  
2,657,702
2,657,702

  

Creditors: amounts falling due within one year
 17 
(953,200)
(953,189)

Net current liabilities
  
 
 
(953,200)
 
 
(953,189)

Total assets less current liabilities
  
1,704,502
1,704,513

Net assets
  
1,704,502
1,704,513


Capital and reserves
  

Called up share capital 
 22 
1,575,000
1,575,000

Profit and loss account
 23 
129,502
129,513

  
1,704,502
1,704,513


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
B Allanson
Director

Date: 16 October 2018
The notes on pages 13 to 26 form part of these financial statements.

Page 9

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2018


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2017
1,575,000
72,738
1,647,738


Comprehensive income for the year

Profit for the year
-
175,498
175,498
Total comprehensive income for the year
-
175,498
175,498


At 31 March 2018
1,575,000
248,236
1,823,236


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2017


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2016
1,575,000
(7,282)
1,567,718


Comprehensive income for the year

Profit for the year
-
230,820
230,820
Total comprehensive income for the year
-
230,820
230,820

Dividends: Equity capital
-
(150,800)
(150,800)


Total transactions with owners
-
(150,800)
(150,800)


At 31 March 2017
1,575,000
72,738
1,647,738


The notes on pages 13 to 26 form part of these financial statements.

Page 10

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2018


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2017
1,575,000
129,513
1,704,513


Comprehensive income for the year

Loss for the year
-
(11)
(11)
Total comprehensive income for the year
-
(11)
(11)


At 31 March 2018
1,575,000
129,502
1,704,502


COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2017


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2016
1,575,000
11,146
1,586,146


Comprehensive income for the year

Profit for the year
-
269,167
269,167
Total comprehensive income for the year
-
269,167
269,167

Dividends: Equity capital
-
(150,800)
(150,800)


At 31 March 2017
1,575,000
129,513
1,704,513


The notes on pages 13 to 26 form part of these financial statements.

Page 11

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2018

2018
2017
£
£

Cash flows from operating activities

Profit for the financial year
175,498
230,820

Adjustments for:

Amortisation of intangible assets
187,651
187,651

Depreciation of tangible assets
69,424
69,437

Interest paid
3,472
10,130

Interest received
(150)
(636)

Taxation charge
87,674
105,700

(Increase) in stocks
(91,167)
(35,480)

(Increase)/decrease in debtors
(527,482)
158,316

Increase/(decrease) in creditors
644,773
(104,416)

Corporation tax (paid)
(110,050)
(91,520)

Net cash generated from operating activities

439,643
530,002


Cash flows from investing activities

Purchase of tangible fixed assets
(74,806)
(42,249)

Interest received
150
636

HP interest paid
(1,602)
(1,748)

Net cash from investing activities

(76,258)
(43,361)

Cash flows from financing activities

Repayment of/new finance leases
(19,942)
(19,942)

Loans due from/(to) directors
(220,000)
-

Dividends paid
-
(150,800)

Interest paid
(1,870)
(8,382)

Net cash used in financing activities
(241,812)
(179,124)

Net increase in cash and cash equivalents
121,573
307,517

Cash and cash equivalents at beginning of year
689,669
382,152

Cash and cash equivalents at the end of year
811,242
689,669


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
811,242
689,669

811,242
689,669


The notes on pages 13 to 26 form part of these financial statements.

Page 12

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


GENERAL INFORMATION

Blue Apple Catering Holdings Limited is a limited liability Company which is incorporated in the United Kingdom. Its principal activity is that of a holding company.

2.ACCOUNTING POLICIES

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and loss account in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of Group and its own subsidiaries ("the Group") as if they formed a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated profit and loss account from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Revenue

Revenue represents the amounts received for the sale of food and beverages, together with subsidy charges and management fees, excluding value added tax.
Revenue is recognised in the period in which services are provided and charged in accordance with the relevant contractual agreement

 
2.4

Intangible assets

Goodwill is the difference between amounts paid on acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and loss account over its useful economic life, currently estimated by the directors as being 10 years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 13

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.ACCOUNTING POLICIES (CONTINUED)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
15%, 25% and 33% straight line basis
Fixtures & fittings
-
15%, 25% and 50% straight line basis
Office equipment
-
15%, 25%, 33% and 50% straight line basis
Computer equipment
-
15%, 25%, 33% and 50% straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated profit and loss account.

 
2.6

Valuation of investments

Investments in subsidiaries are valued at cost less provision for impairment. 

 
2.7

Stocks

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measures subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.10

Financial instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Page 14

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.12
Leasing and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 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 produced a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

 
2.14

Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Consolidated profit and loss account in the year that the Group becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 15

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.ACCOUNTING POLICIES (CONTINUED)

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Consolidated profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Tangible fixed assets (note 12)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.
Taxation (note 8)
The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with previous tax submissions. Management estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.

Page 16

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

4.


TURNOVER

2018
2017
£
£

Supply of catering services
15,185,251
12,183,047

15,185,251
12,183,047


All turnover arose within the United Kingdom.


5.


OPERATING PROFIT

The operating profit is stated after charging:

2018
2017
£
£

Depreciation of tangible fixed assets
69,424
69,437

Amortisation of intangible assets
187,651
187,651

Fees payable to the Group's auditor and its associates for the audit of the company's annual financial statements
7,500
9,250



6.


EMPLOYEES

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2018
2017
2018
2017
£
£
£
£

Wages and salaries
6,319,124
5,069,631
-
-

Social security costs
520,032
402,974
-
-

Cost of defined benefit scheme
7,738
6,876
-
-

6,846,894
5,479,481
-
-


The average monthly number of employees, including the directors, during the year was as follows:


        2018
        2017
            No.
            No.







Administration
36
35



Unit staff
310
206

346
241

The directors are considered to be key management personnel. 

Page 17

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

7.


DIRECTORS' REMUNERATION

2018
2017
£
£


Directors' emoluments
92,300
89,300

92,300
89,300


8.


TAXATION


2018
2017
£
£

CORPORATION TAX


Current tax on profits for the year
89,332
110,184

Adjustments in respect of previous periods
-
182


TOTAL CURRENT TAX
89,332
110,366

DEFERRED TAX


Origination and reversal of timing differences
(1,658)
(4,666)

TOTAL DEFERRED TAX
(1,658)
(4,666)


TAXATION ON PROFIT ON ORDINARY ACTIVITIES
87,674
105,700

FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2017 - higher than) the standard rate of corporation tax in the UK of 19% (2017: 20%). The differences are explained below:

2018
2017
£
£


Profit on ordinary activities before tax
263,172
336,520


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2017: 20%)
50,003
70,311

EFFECTS OF:


Non-tax deductible amortisation of goodwill
37,530
37,530

Expenses not deductible for tax purposes
1,191
747

Adjustments to tax charge in respect of prior periods
-
182

Other timing differences leading to an increase (decrease) in taxation
(1,050)
(3,070)

TOTAL TAX CHARGE FOR THE YEAR
87,674
105,700

Page 18

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

9.


DIVIDENDS

2018
2017
£
£


Dividends paid on equity capital
-
150,800

-
150,800


10.


INTANGIBLE ASSETS

Group





Develop-ment
Goodwill
Total

£
£
£



COST


At 1 April 2017
9,780
1,876,514
1,886,294



At 31 March 2018

9,780
1,876,514
1,886,294



AMORTISATION


At 1 April 2017
9,780
562,954
572,734


Charge for the year
-
187,651
187,651



At 31 March 2018

9,780
750,605
760,385



NET BOOK VALUE



At 31 March 2018
-
1,125,909
1,125,909



At 31 March 2017
-
1,313,560
1,313,560


11.


PARENT COMPANY PROFIT FOR THE YEAR

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and loss account in these financial statements. The loss after tax of the parent Company for the year was £11 (2017: profit £269,167).

Page 19

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

12.


TANGIBLE FIXED ASSETS

Group






Plant & machinery
Fixtures & fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



COST OR VALUATION


At 1 April 2017
307,862
30,271
18,239
134,491
490,863


Additions
49,740
8,371
522
16,173
74,806



At 31 March 2018

357,602
38,642
18,761
150,664
565,669



DEPRECIATION


At 1 April 2017
231,232
21,516
17,231
124,906
394,885


Charge for the year
48,673
6,189
1,163
13,399
69,424



At 31 March 2018

279,905
27,705
18,394
138,305
464,309



NET BOOK VALUE



At 31 March 2018
77,697
10,937
367
12,359
101,360



At 31 March 2017
76,630
8,755
1,008
9,585
95,978

Page 20

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

13.


FIXED ASSET INVESTMENTS

Group






Investments in subsidiary companies

£



COST OR VALUATION


At 1 April 2017
2



At 31 March 2018

2






NET BOOK VALUE



At 31 March 2018
2



At 31 March 2017
2

SUBSIDIARY UNDERTAKINGS

The following were subsidiary undertakings of the Company:

Name
Class of shares
Holding
Principal activity

Blue Apple Contract Caterings Limited
Ordinary
 100%
Supplying catering services

Blue Apple Enterprises Limited
Ordinary
 100%
Dormant

Page 21

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

           13.FIXED ASSET INVESTMENTS (CONTINUED)

Company





Investments in subsidiary companies

£



COST OR VALUATION


At 1 April 2017
2,657,702



At 31 March 2018

2,657,702






NET BOOK VALUE



At 31 March 2018
2,657,702



At 31 March 2017
2,657,702



14.


STOCKS

Group
Group
Company
Company
2018
2017
2018
2017
£
£
£
£

Stocks
414,593
323,426
-
-

414,593
323,426
-
-



15.


DEBTORS

Group
Group
Company
Company
2018
2017
2018
2017
£
£
£
£


Trade debtors
1,533,786
1,065,992
-
-

Other debtors
552,737
291,781
-
-

Prepayments and accrued income
177,766
157,640
-
-

2,264,289
1,515,413
-
-


Page 22

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

16.


CASH AND CASH EQUIVALENTS

Group
Group
Company
Company
2018
2017
2018
2017
£
£
£
£

Cash at bank and in hand
811,242
689,669
-
-

811,242
689,669
-
-



17.


CREDITORS: Amounts falling due within one year

Group
Group
Company
Company
2018
2017
2018
2017
£
£
£
£

Trade creditors
1,506,569
1,211,581
-
-

Amounts owed to group undertakings
2
2
952,903
952,903

Corporation tax
89,333
110,184
-
-

Taxation and social security
656,518
480,888
-
-

Obligations under finance lease and hire purchase contracts
11,157
20,272
-
-

Other creditors
257,440
232,221
297
286

Accruals and deferred income
359,867
209,405
-
-

2,880,886
2,264,553
953,200
953,189


The hire purchase contracts are secured on the assets to which they relate.


18.


CREDITORS: Amounts falling due after more than one year

Group
Group
Company
Company
2018
2017
2018
2017
£
£
£
£

Net obligations under finance leases and hire purchase contracts
-
10,827
-
-

-
10,827
-
-


Page 23

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

19.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2018
2017
£
£

Within one year
11,157
20,272

Between 1-2 years
-
10,827

11,157
31,099


20.


FINANCIAL INSTRUMENTS

Group
Group
Company
Company
2018
2017
2018
2017
£
£
£
£


Trade debtors
1,533,786
1,065,992
-
-

Other debtors
552,738
291,781
-
-

Cash
811,242
689,669
-
-

2,897,766
2,047,442
-
-



Trade creditors
1,506,569
1,211,581
-
-

Amounts owed to group undertakings
2
2
953,903
953,903

Other creditors
921,550
733,381
297
286

2,428,121
1,944,964
954,200
954,189



21.


DEFERRED TAXATION


Group



2018
2017


£

£






At beginning of year
(14,931)
(19,597)


Charged to profit or loss
1,658
4,666



AT END OF YEAR
(13,273)
(14,931)

Page 24

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
 
21.DEFERRED TAXATION (CONTINUED)

Group
Group
2018
2017
£
£

Accelerated capital allowances
(13,273)
(14,931)

(13,273)
(14,931)


22.


SHARE CAPITAL

2018
2017
£
£
Allotted, called up and fully paid



1,575,000 Ordinary shares of £1 each
1,575,000
1,575,000


23.


RESERVES

Profit & loss account

Includes all current and prior year retained profits and losses.


24.


PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £7,738 (2017: £6,876). Contributions totalling £6,708 (2017: £nil) were payable to the fund at the balance sheet date and are included in creditors.


25.


COMMITMENTS UNDER OPERATING LEASES

At 31 March 2018 the Group and the Company had future minimum lease payments under non-cancellable operating leases as follows:


Group
Group
2018
2017
£
£

Not later than 1 year
79,716
28,106

Later than 1 year and not later than 5 years
114,014
-

193,730
28,106
Page 25

 
BLUE APPLE CATERING HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

26.


RELATED PARTY TRANSACTIONS

Within professional costs, an amount of £nil (2017: £2,385) was paid to J Evans, a director in regards to business and legal advice.
At the year end, included within other debtors is an amount of £220,000 owed by the directors. The amount has been repaid post year end.


27.


CONTROLLING PARTY

By virtue of the shareholdings in Blue Apple Catering Holdings Limited the company is not under the control of any one individual.

Page 26