Registered number
06493350
P G Catering Limited
Filleted Accounts
31 March 2023
P G Catering Limited
Registered number: 06493350
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 217,124 202,510
Current assets
Stocks 5,000 11,000
Debtors 4 3,107 17,423
Cash at bank and in hand 122,263 27,403
130,370 55,826
Creditors: amounts falling due within one year 5 (99,262) (64,953)
Net current assets/(liabilities) 31,108 (9,127)
Total assets less current liabilities 248,232 193,383
Creditors: amounts falling due after more than one year 6 (191,296) (197,833)
Provisions for liabilities (1,894) -
Net assets/(liabilities) 55,042 (4,450)
Capital and reserves
Called up share capital 30,000 30,000
Profit and loss account 25,042 (34,450)
Shareholders' funds 55,042 (4,450)
The director is 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 director acknowledges his 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.
Zhejian Li
Director
Approved by the board on 30 October 2023
P G Catering Limited
Notes to the Accounts
for the year ended 31 March 2023
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).
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 18% reducing balance
Fixtures, fittings, tools and equipment 6% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 23 23
3 Tangible fixed assets
Land and buildings Plant and machinery etc Fixture and fittings Total
£ £ £ £
Cost
At 1 April 2022 106,327 153,034 92,100 351,461
Additions - 7,276 16,851 24,127
At 31 March 2023 106,327 160,310 108,951 375,588
Depreciation
At 1 April 2022 - 141,189 7,762 148,951
Charge for the year - 3,442 6,071 9,513
At 31 March 2023 - 144,631 13,833 158,464
Net book value
At 31 March 2023 106,327 15,679 95,118 217,124
At 31 March 2022 106,327 11,845 84,338 202,510
4 Debtors 2023 2022
£ £
Trade debtors 700 949
Deferred tax asset - 1,076
Other debtors 2,407 15,398
3,107 17,423
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 9,839 743
Taxation and social security costs 60,423 47,172
Other creditors 29,000 17,038
99,262 64,953
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 41,296 47,833
Other creditors 150,000 150,000
191,296 197,833
7 Other information
P G Catering Limited is a private company limited by shares and incorporated in England. Its registered office is:
129 Allenby Road
Leeds
LS11 5RR
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