Registered number
05773065
Catercare Catering Equipment Limited
Unaudited Filleted Accounts
30 April 2022
Catercare Catering Equipment Limited
Registered number: 05773065
Balance Sheet
as at 30 April 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 33,000 44,000
Tangible assets 4 55,894 18,469
88,894 62,469
Current assets
Stocks 5,000 5,000
Debtors 5 57,719 19,311
Cash at bank and in hand 122,892 100,295
185,611 124,606
Creditors: amounts falling due within one year 6 (87,479) (41,981)
Net current assets 98,132 82,625
Total assets less current liabilities 187,026 145,094
Creditors: amounts falling due after more than one year 7 (18,500) (24,777)
Provisions for liabilities (10,620) (2,700)
Net assets 157,906 117,617
Capital and reserves
Called up share capital 101 100
Profit and loss account 157,805 117,517
Shareholders' funds 157,906 117,617
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Page
G Page
Director
Approved by the board on 6 September 2022
Catercare Catering Equipment Limited
Notes to the Accounts
for the year ended 30 April 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
Since the year end, the United Kingdom, amongst other countires, have been struck by the Coronavirus (COVID-19) pandemic. Whilst the impact to the company is unquantifiable at present, the directors have considered the financial health of the company along with the various government measures put in place to support businesses through the pandemic and with this in mind, the directors are confident that the company, at the date of signing, will continue as a going concern for the foreseeable future.
Government grants
Government grants are recognised when there is reasonable assurance that the entity will comply with the conditions attaching to the grant and the grant will be received.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Motor vehicles 25% on reducing balance basis
Plant and machinery 25% on reducing balance basis
Fixtures, fittings, tools and equipment 25% on reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2021 200,000
At 30 April 2022 200,000
Amortisation
At 1 May 2021 156,000
Provided during the year 11,000
At 30 April 2022 167,000
Net book value
At 30 April 2022 33,000
At 30 April 2021 44,000
Goodwill is being written off in equal annual instalments over its estimated economic life.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2021 9,345 61,926 71,271
Additions 497 46,251 46,748
Disposals - (20,700) (20,700)
At 30 April 2022 9,842 87,477 97,319
Depreciation
At 1 May 2021 7,832 44,970 52,802
Charge for the year 480 8,843 9,323
On disposals - (20,700) (20,700)
At 30 April 2022 8,312 33,113 41,425
Net book value
At 30 April 2022 1,530 54,364 55,894
At 30 April 2021 1,513 16,956 18,469
5 Debtors 2022 2021
£ £
Trade debtors 56,181 18,383
Other debtors 1,538 928
57,719 19,311
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 6,000 5,223
Obligations under finance lease and hire purchase contracts - 4,419
Trade creditors 45,233 12,749
Taxation and social security costs 34,612 17,591
Other creditors 1,634 1,999
87,479 41,981
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 18,500 24,777
8 Other information
Catercare Catering Equipment Limited is a private company limited by shares and incorporated in England. Its registered office is:
Staple House
5 Eleanor's Cross
Dunstable
Bedfordshire
LU6 1SU
9 Government assistance
During the year ending 30 April 2022, the company received the following government
assistance:
£
Coronavirus Job Retention Scheme 1,435
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