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REGISTERED NUMBER: 07582325 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

PRINCIPALS CONTRACT CATERING LTD

PRINCIPALS CONTRACT CATERING LTD (REGISTERED NUMBER: 07582325)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRINCIPALS CONTRACT CATERING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr G J Hobbs
Mrs A K C Hobbs





REGISTERED OFFICE: Alban House
99 High Street South
Dunstable
Bedfordshire
LU6 3SF





REGISTERED NUMBER: 07582325 (England and Wales)





ACCOUNTANTS: Stoten Gillam Limited
Chartered Accountants
Alban House
99 High Street South
Dunstable
Bedfordshire
LU6 3SF

PRINCIPALS CONTRACT CATERING LTD (REGISTERED NUMBER: 07582325)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,479 18,397
18,479 18,397

CURRENT ASSETS
Stocks 2,800 4,100
Debtors 6 62,353 49,768
Cash at bank and in hand 89,545 75,437
154,698 129,305
CREDITORS
Amounts falling due within one year 7 118,317 112,486
NET CURRENT ASSETS 36,381 16,819
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,860

35,216

CREDITORS
Amounts falling due after more than one
year

8

(30,173

)

(29,986

)

PROVISIONS FOR LIABILITIES (4,250 ) (3,496 )
NET ASSETS 20,437 1,734

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 20,435 1,732
SHAREHOLDERS' FUNDS 20,437 1,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

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.

PRINCIPALS CONTRACT CATERING LTD (REGISTERED NUMBER: 07582325)

BALANCE SHEET - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 17 October 2023 and were signed on its behalf by:




Mr G J Hobbs - Director



Mrs A K C Hobbs - Director


PRINCIPALS CONTRACT CATERING LTD (REGISTERED NUMBER: 07582325)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Principals Contract Catering Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011. The amortisation was accelerated at the commencement of the year to 31 July 2018 to write the remaining balance off over 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 25% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PRINCIPALS CONTRACT CATERING LTD (REGISTERED NUMBER: 07582325)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 30,000
AMORTISATION
At 1 August 2022
and 31 July 2023 30,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 63,242
Additions 6,841
Disposals (2,537 )
At 31 July 2023 67,546
DEPRECIATION
At 1 August 2022 44,845
Charge for year 6,428
Eliminated on disposal (2,206 )
At 31 July 2023 49,067
NET BOOK VALUE
At 31 July 2023 18,479
At 31 July 2022 18,397

PRINCIPALS CONTRACT CATERING LTD (REGISTERED NUMBER: 07582325)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 43,505 45,959
Other debtors 18,848 3,809
62,353 49,768

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 23,914 15,679
Trade creditors 19,447 15,859
Taxation and social security 61,729 60,531
Other creditors 13,227 20,417
118,317 112,486

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 30,173 29,986

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 584 541

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 25,069 6,878

The above loan is secured by personal guarantee by the directors.

The Government bounce back loan of £29,018 (2022: £38,747) is unsecured.