Registered number
10169004
Caterbitz Ltd
Unaudited Filleted Accounts
31 May 2023
Caterbitz Ltd
Registered number: 10169004
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 378,772 334,092
Investments 4 104,097 -
482,869 334,092
Current assets
Stocks 360,253 179,607
Debtors 5 135,889 224,614
Cash at bank and in hand 602,166 423,789
1,098,308 828,010
Creditors: amounts falling due within one year 6 (406,220) (266,061)
Net current assets 692,088 561,949
Net assets 1,174,957 896,041
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,174,955 896,039
Shareholders' funds 1,174,957 896,041
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.
R Moreton
Director
Approved by the board on 14 February 2024
Caterbitz Ltd
Notes to the Accounts
for the year ended 31 May 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 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:
Plant, machinery and motor vehicles 25% on reducing balance
(apart from display stock which is not depreciated)
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
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 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2022 5,351 224,923 174,929 405,203
Additions - 86,583 - 86,583
Disposals - - (28,650) (28,650)
At 31 May 2023 5,351 311,506 146,279 463,136
Depreciation
At 1 June 2022 - 7,914 63,197 71,111
Charge for the year - 1,883 23,904 25,787
On disposals - - (12,534) (12,534)
At 31 May 2023 - 9,797 74,567 84,364
Net book value
At 31 May 2023 5,351 301,709 71,712 378,772
At 31 May 2022 5,351 217,009 111,732 334,092
4 Investments
Other
investments
£
Cost
Additions 100,000
Revaluation 4,097
At 31 May 2023 104,097
5 Debtors 2023 2022
£ £
Trade debtors 128,982 207,440
Other debtors 6,907 17,174
135,889 224,614
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 34,335 57,772
Taxation and social security costs 140,097 128,759
Other creditors 231,788 79,530
406,220 266,061
7 Related party transactions
Mr R Moreton (Director) has a loan account with the company. At the balance sheet date he was owed £2,447 (2022: £4,094) by the company.
8 Controlling party
The company is controlled by Mr R Moreton, it's sole director, who together with family interests, owns 100% of the issued share capital.
9 Other information
Caterbitz Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit B3 30 Blackmoor Road
Ebblake Industrial Estate
Verwood
Dorset
BH31 6BB
Caterbitz Ltd 10169004 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts October 2023 release 2 R Moreton No description of principal activity 10169004 2021-06-01 2022-05-31 10169004 core:WithinOneYear 2022-05-31 10169004 core:ShareCapital 2022-05-31 10169004 core:RetainedEarningsAccumulatedLosses 2022-05-31 10169004 2022-06-01 2023-05-31 10169004 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10169004 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 10169004 bus:Director40 2022-06-01 2023-05-31 10169004 core:LandBuildings 2022-06-01 2023-05-31 10169004 core:PlantMachinery 2022-06-01 2023-05-31 10169004 core:Vehicles 2022-06-01 2023-05-31 10169004 countries:England 2022-06-01 2023-05-31 10169004 bus:FRS102 2022-06-01 2023-05-31 10169004 bus:FullAccounts 2022-06-01 2023-05-31 10169004 2023-05-31 10169004 core:WithinOneYear 2023-05-31 10169004 core:ShareCapital 2023-05-31 10169004 core:RetainedEarningsAccumulatedLosses 2023-05-31 10169004 core:LandBuildings 2023-05-31 10169004 core:PlantMachinery 2023-05-31 10169004 core:Vehicles 2023-05-31 10169004 core:AdditionsToInvestments 2023-05-31 10169004 core:RevaluationsIncreaseDecreaseInInvestments 2023-05-31 10169004 2022-05-31 10169004 core:LandBuildings 2022-05-31 10169004 core:PlantMachinery 2022-05-31 10169004 core:Vehicles 2022-05-31 iso4217:GBP xbrli:pure