Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseNo description of principal activity55truetrue 05027209 2022-04-01 2023-03-31 05027209 2021-04-01 2022-03-31 05027209 2023-03-31 05027209 2022-03-31 05027209 c:Director2 2022-04-01 2023-03-31 05027209 d:PlantMachinery 2022-04-01 2023-03-31 05027209 d:PlantMachinery 2023-03-31 05027209 d:PlantMachinery 2022-03-31 05027209 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05027209 d:MotorVehicles 2022-04-01 2023-03-31 05027209 d:MotorVehicles 2023-03-31 05027209 d:MotorVehicles 2022-03-31 05027209 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05027209 d:FurnitureFittings 2022-04-01 2023-03-31 05027209 d:FurnitureFittings 2023-03-31 05027209 d:FurnitureFittings 2022-03-31 05027209 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05027209 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 05027209 d:OtherPropertyPlantEquipment 2023-03-31 05027209 d:OtherPropertyPlantEquipment 2022-03-31 05027209 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05027209 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05027209 d:Goodwill 2023-03-31 05027209 d:Goodwill 2022-03-31 05027209 d:CurrentFinancialInstruments 2023-03-31 05027209 d:CurrentFinancialInstruments 2022-03-31 05027209 d:Non-currentFinancialInstruments 2023-03-31 05027209 d:Non-currentFinancialInstruments 2022-03-31 05027209 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05027209 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05027209 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05027209 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 05027209 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 05027209 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 05027209 d:ShareCapital 2023-03-31 05027209 d:ShareCapital 2022-03-31 05027209 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 05027209 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 05027209 c:FRS102 2022-04-01 2023-03-31 05027209 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05027209 c:FullAccounts 2022-04-01 2023-03-31 05027209 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05027209 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 05027209









RED HERRING CORPORATE CATERING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
RED HERRING CORPORATE CATERING LIMITED
REGISTERED NUMBER: 05027209

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
11,319
11,186

  
11,319
11,186

Current assets
  

Stocks
 6 
950
500

Debtors: amounts falling due within one year
 7 
119,982
134,533

Cash at bank and in hand
 8 
27,819
26,762

  
148,751
161,795

Creditors: amounts falling due within one year
 9 
(148,901)
(157,146)

Net current (liabilities)/assets
  
 
 
(150)
 
 
4,649

Total assets less current liabilities
  
11,169
15,835

Creditors: amounts falling due after more than one year
 10 
(11,167)
(15,833)

  

Net assets
  
2
2


Capital and reserves
  

Called up share capital 
  
2
2

  
2
2


Page 1

 
RED HERRING CORPORATE CATERING LIMITED
REGISTERED NUMBER: 05027209
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 October 2023.





................................................
S Hamson
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
RED HERRING CORPORATE CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Red Herring Corporate Catering Limited is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of a corporate catering 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
RED HERRING CORPORATE CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss 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 operates and generates income.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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 4

 
RED HERRING CORPORATE CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% Reducing balance
Motor vehicles
-
25% Reducing balance
Fixtures and fittings
-
25% Reducing balance
Other fixed assets
-
15% Reducing balance

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 profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 5

 
RED HERRING CORPORATE CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.15

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
45,000



At 31 March 2023

45,000



Amortisation


At 1 April 2022
45,000



At 31 March 2023

45,000



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 6

 
RED HERRING CORPORATE CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
22,095
20,400
31,383
14,362
88,240


Additions
-
-
2,934
-
2,934



At 31 March 2023

22,095
20,400
34,317
14,362
91,174



Depreciation


At 1 April 2022
17,593
17,677
30,249
11,535
77,054


Charge for the year on owned assets
676
681
1,020
424
2,801



At 31 March 2023

18,269
18,358
31,269
11,959
79,855



Net book value



At 31 March 2023
3,826
2,042
3,048
2,403
11,319



At 31 March 2022
4,502
2,723
1,134
2,827
11,186


6.


Stocks

2023
2022
£
£

Raw materials and consumables
950
500

950
500


Page 7

 
RED HERRING CORPORATE CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors

2023
2022
£
£


Trade debtors
22,672
2,368

Other debtors
93,056
130,666

Prepayments and accrued income
4,254
1,499

119,982
134,533


Included within other debtors is a loan to S and A Hamson, the directors, amounting to £75,242 (2022 - £102,161).

The loan is unsecured, interest free and repayable on demand.


8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
27,819
26,762

Less: bank overdrafts
(19,723)
(2,595)

8,096
24,167



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
19,723
2,595

Bank loans
5,000
5,000

Payments received on account
28,675
36,816

Trade creditors
16,167
18,760

Corporation tax
9,454
37,275

Other taxation and social security
45,211
47,485

Other creditors
3,843
7,920

Accruals and deferred income
20,828
1,295

148,901
157,146


The bank overdraft is secured. 

Page 8

 
RED HERRING CORPORATE CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
11,167
15,833

11,167
15,833





11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,000
5,000


Amounts falling due 2-5 years

Bank loans
11,167
15,833


16,167
20,833



12.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
27,819
26,762




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


13.


Pension commitments

The Company operates a defined contributions pension scheme in respect of the employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,333 (2022 - £1,151). Contributions totalling £332 (2022 - £95) were payable to the fund at the balance sheet date.

Page 9

 
RED HERRING CORPORATE CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

14.


Controlling party

The Company is controlled by the directors, S and A Hamson, by virtue of their shareholding as described in the Directors' report.

 
Page 10