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REGISTERED NUMBER: 08396903 (England and Wales)













Unaudited Financial Statements

for the Year Ended 28th February 2023

for

Foster's Catering Limited

Foster's Catering Limited (Registered number: 08396903)

Contents of the Financial Statements
for the Year Ended 28th February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Foster's Catering Limited

Company Information
for the Year Ended 28th February 2023







DIRECTOR: D R Foster





REGISTERED OFFICE: Unit 5
Vickers Business Centre
Priestley Road
Basingstoke
Hampshire
RG24 9NP





REGISTERED NUMBER: 08396903 (England and Wales)





ACCOUNTANTS: Whiteleys
Chartered Certified Accountants
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Foster's Catering Limited (Registered number: 08396903)

Balance Sheet
28th February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,939 21,277

CURRENT ASSETS
Debtors 5 3,559 3,560
Cash at bank 123 11,672
3,682 15,232
CREDITORS
Amounts falling due within one year 6 121,028 79,231
NET CURRENT LIABILITIES (117,346 ) (63,999 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(93,407

)

(42,722

)

CREDITORS
Amounts falling due after more than one
year

7

38,487

48,132
NET LIABILITIES (131,894 ) (90,854 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (131,895 ) (90,855 )
SHAREHOLDERS' FUNDS (131,894 ) (90,854 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Foster's Catering Limited (Registered number: 08396903)

Balance Sheet - continued
28th February 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 director and authorised for issue on 16th November 2023 and were signed by:





D R Foster - Director


Foster's Catering Limited (Registered number: 08396903)

Notes to the Financial Statements
for the Year Ended 28th February 2023


1. STATUTORY INFORMATION

Foster's Catering Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Fixtures and fittings - 50% on cost and 25% on reducing balance
Motor vehicles - 20% on reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Foster's Catering Limited (Registered number: 08396903)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Foster's Catering Limited (Registered number: 08396903)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023


2. ACCOUNTING POLICIES - continued

Going concern
The company has net current liabilities and trades with the support of its director. The director has confirmed his intention to continue to support the company. This together with management information and forecast results leads the director to consider it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st March 2022 7,990 45,143 19,700 72,833
Additions - 15,425 - 15,425
Disposals - - (7,900 ) (7,900 )
At 28th February 2023 7,990 60,568 11,800 80,358
DEPRECIATION
At 1st March 2022 3,923 39,531 8,102 51,556
Charge for year 1,620 6,625 2,360 10,605
Eliminated on disposal - - (5,742 ) (5,742 )
At 28th February 2023 5,543 46,156 4,720 56,419
NET BOOK VALUE
At 28th February 2023 2,447 14,412 7,080 23,939
At 28th February 2022 4,067 5,612 11,598 21,277

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st March 2022
and 28th February 2023 7,700 11,800 19,500
DEPRECIATION
At 1st March 2022 3,850 2,360 6,210
Charge for year 1,475 2,360 3,835
At 28th February 2023 5,325 4,720 10,045
NET BOOK VALUE
At 28th February 2023 2,375 7,080 9,455
At 28th February 2022 3,850 9,440 13,290

Foster's Catering Limited (Registered number: 08396903)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 834 2,622
Other debtors 2,725 938
3,559 3,560

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,563 5,897
Hire purchase contracts (see note 8) 4,179 6,315
Trade creditors 855 -
Taxation and social security 9,143 8,304
Other creditors 99,288 58,715
121,028 79,231

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 36,574 42,040
Hire purchase contracts (see note 8) 1,913 6,092
38,487 48,132

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 4,179 6,315
Between one and five years 1,913 6,092
6,092 12,407

Non-cancellable operating leases
2023 2022
£    £   
Within one year 14,300 14,300
Between one and five years 14,300 28,600
28,600 42,900

Foster's Catering Limited (Registered number: 08396903)

Notes to the Financial Statements - continued
for the Year Ended 28th February 2023


9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28th February 2023 and 28th February 2022:

2023 2022
£    £   
D R Foster
Balance outstanding at start of year - -
Amounts advanced 1,911 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,911 -