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Registration number: 11644594

Metrodeco Catering Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 November 2020 to 30 April 2022

image-name
 

Metrodeco Catering Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Metrodeco Catering Limited

Company Information

Directors

Ms M Morgan

Mrs HJ Taggart

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Metrodeco Catering Limited

(Registration number: 11644594)
Balance Sheet as at 30 April 2022

Note

30 April 2022
 £

31 October 2020
 £

Current assets

 

Debtors

4

2

12,004

Cash at bank and in hand

 

1,668

17,612

 

1,670

29,616

Creditors: Amounts falling due within one year

5

(2,813)

(27,875)

Net (liabilities)/assets

 

(1,143)

1,741

Capital and Reserves

 

Called up share capital

100

100

Profit and loss account

(1,243)

1,641

Total equity

 

(1,143)

1,741

For the financial period ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 August 2022 and signed on its behalf by:
 

.........................................
Ms M Morgan
Director

.........................................
Mrs HJ Taggart
Director

 

Metrodeco Catering Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2020 to 30 April 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

These financial statements were authorised for issue by the Board on 18 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Going concern

At the balance sheet the board had ceased to trade with no intention to recommence trading in the foressable future. As a result, these financial statements have been prepared on a break-up basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Metrodeco Catering Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2020 to 30 April 2022

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Metrodeco Catering Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2020 to 30 April 2022

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, analysed by category was as follows:

1 November 2020 to 30 April 2022
 No.

Year ended 31 October 2020
 No.

Administration and support

2

2

Sales

2

2

4

4

4

Debtors

Current

2022
£

2020
£

Trade Debtors

-

344

Other debtors

2

11,660

 

2

12,004

 

Metrodeco Catering Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2020 to 30 April 2022

5

Creditors

Creditors: amounts falling due within one year

Note

30 April 2022
 £

31 October 2020
 £

Due within one year

 

Loans and borrowings

6

1,062

11,363

Trade Creditors

 

-

2,679

Social security and other taxes

 

-

5,027

Outstanding defined contribution pension costs

 

-

15

Other payables

 

-

5,136

Accrued expenses

 

1,050

1,050

Corporation tax liability

701

2,323

Deferred income

 

-

282

 

2,813

27,875

6

Loans and borrowings

30 April 2022
 £

31 October 2020
 £

Current loans and borrowings

Other borrowings

1,062

11,363