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Registration number: 05986132

Tristar Catering Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Tristar Catering Solutions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Tristar Catering Solutions Limited

Company Information

Director

Mr G Rogers

Registered office

4 Broadmead Business Park
Broadmead Road
Stewartby
Bedford
Beds
MK43 9NX

Accountants

Russells (Accountants) Limited
Certified Accountant
20 Riverview Way
Kempston
Bedford
Bedfordshire
MK42 7BB

 

Tristar Catering Solutions Limited

(Registration number: 05986132)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

159,929

189,242

Current assets

 

Stocks

5

22,500

21,100

Debtors

6

62,865

76,496

Cash at bank and in hand

 

416,227

306,794

 

501,592

404,390

Creditors: Amounts falling due within one year

7

(137,109)

(118,028)

Net current assets

 

364,483

286,362

Total assets less current liabilities

 

524,412

475,604

Creditors: Amounts falling due after more than one year

7

-

(27,477)

Provisions for liabilities

(22,174)

(21,956)

Net assets

 

502,238

426,171

Capital and reserves

 

Called up share capital

1

1

Retained earnings

502,237

426,170

Shareholders' funds

 

502,238

426,171

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 March 2024
 

 

Tristar Catering Solutions Limited

(Registration number: 05986132)
Balance Sheet as at 31 December 2023

.........................................
Mr G Rogers
Director

   
     
 

Tristar Catering Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
4 Broadmead Business Park
Broadmead Road
Stewartby
Bedford
Beds
MK43 9NX

These financial statements were authorised for issue by the director on 7 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Tristar Catering Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

2% straight line

Plant and machinery

20% reducing balance

Fixtures and fittings

25% reducing balance

Computer equipment

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Tristar Catering Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2022 - 6).

 

Tristar Catering Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Office equipment
£

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

73,464

1,964

193,343

10,521

10,220

289,512

Additions

-

-

66,445

865

-

67,310

Disposals

-

-

(91,993)

-

-

(91,993)

At 31 December 2023

73,464

1,964

167,795

11,386

10,220

264,829

Depreciation

At 1 January 2023

16,159

1,702

67,417

9,418

5,575

100,271

Charge for the year

1,469

65

32,903

493

930

35,860

Eliminated on disposal

-

-

(31,231)

-

-

(31,231)

At 31 December 2023

17,628

1,767

69,089

9,911

6,505

104,900

Carrying amount

At 31 December 2023

55,836

197

98,706

1,475

3,715

159,929

At 31 December 2022

57,305

262

125,926

1,104

4,645

189,242

Included within the net book value of land and buildings above is £55,836 (2022 - £57,305) in respect of freehold land and buildings.
 

 

Tristar Catering Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Stocks

2023
£

2022
£

Other inventories

22,500

21,100

6

Debtors

Current

2023
£

2022
£

Trade debtors

51,452

67,010

Prepayments

11,413

8,536

Other debtors

-

950

 

62,865

76,496

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

-

9,779

Trade creditors

 

13,797

16,204

Directors current accounts

 

35,662

31,918

Taxation and social security

 

36,524

33,012

Corporation tax

 

45,207

19,144

Accruals and deferred income

 

2,525

1,807

Other creditors

 

3,394

6,164

 

137,109

118,028

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

27,477

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

9,779

 

Tristar Catering Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,096

9,030

Dividends paid to the director

   

2023
£

 

2022
£

Mr G Rogers

       

Interim dividends

 

45,000

 

45,000