Company registration number 03297723 (England and Wales)
NIVEK CATERING SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NIVEK CATERING SUPPLIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
NIVEK CATERING SUPPLIES LIMITED (REGISTERED NUMBER: 03297723)
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
241,231
220,772
Current assets
Stocks
417,555
475,321
Debtors
5
1,094,402
1,148,002
Cash at bank and in hand
1,021,990
600,273
2,533,947
2,223,596
Creditors: amounts falling due within one year
6
(1,073,056)
(879,108)
Net current assets
1,460,891
1,344,488
Total assets less current liabilities
1,702,122
1,565,260
Creditors: amounts falling due after more than one year
7
(229,194)
(288,233)
Provisions for liabilities
(36,594)
(31,659)
Net assets
1,436,334
1,245,368
Capital and reserves
Called up share capital
9
4
4
Profit and loss reserves
1,436,330
1,245,364
Total equity
1,436,334
1,245,368

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

NIVEK CATERING SUPPLIES LIMITED (REGISTERED NUMBER: 03297723)
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 7 March 2024
K Slater
Director
NIVEK CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Nivek Catering Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
25% on reducing balance
Fixtures, fittings & equipment
25% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

NIVEK CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

NIVEK CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 29 (2022 - 27).

2023
2022
Number
Number
Total
29
27
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
105,212
Amortisation and impairment
At 1 January 2023 and 31 December 2023
105,212
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
4
Tangible fixed assets
Improvements to property
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
6,368
149,875
353,154
509,397
Additions
-
0
12,042
85,617
97,659
At 31 December 2023
6,368
161,917
438,771
607,056
Depreciation and impairment
At 1 January 2023
5,589
122,830
160,206
288,625
Depreciation charged in the year
195
17,174
59,831
77,200
At 31 December 2023
5,784
140,004
220,037
365,825
Carrying amount
At 31 December 2023
584
21,913
218,734
241,231
At 31 December 2022
779
27,045
192,948
220,772
NIVEK CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Tangible fixed assets
(Continued)
- 6 -

The net book value of assets held under hire purchase agreements at the balance sheet date was £171,808 (2022: £159,297).

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
646,639
579,922
Other debtors
447,763
568,080
1,094,402
1,148,002
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
62,000
62,000
Trade creditors
631,152
533,983
Taxation and social security
317,496
240,415
Other creditors
62,408
42,710
1,073,056
879,108
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
116,834
178,833
Other creditors
112,360
109,400
229,194
288,233
8
Finance lease obligations
2023
2022
Future minimum lease payments due under finance leases:
£
£
Within one year
53,512
34,584
In two to five years
112,360
109,400
165,872
143,984
NIVEK CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
Ordinary A of £1 each
1
1
1
1
Ordinary B of £1 each
1
1
1
1
Ordinary C of £1 each
1
1
1
1
4
4
4
4
10
Financial commitments, guarantees and contingent liabilities

The company gives the bank a fixed and floating charge over its assets and undertaking owned now and in the future.

 

During the 2021 accounting period, the company borrowed £160,000 from its bankers for a Bounce Back Loan, as well as £150,000 in the 2020 accounting period. As part of this loan scheme, the UK government guaranteed the advance and paid the interest and fees due for the first 12 months.

 

11
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
160,322
54,641
12
Related party transactions

Nivek Catering Supplies Limited is a subsidiary of A.C.H Holdings Kent Limited.

 

During the year Nivek Catering paid dividends of £319,449 (2022: £343,762) to A.C.H Holdings Kent Limited.

 

At the year end Nivek Catering Supplies Limited was owed £442,562 (2022: £562,354) by A.C.H Holdings Kent Limited.

2023-12-312023-01-01false07 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityK SlaterMr K Slaterfalse032977232023-01-012023-12-31032977232023-12-31032977232022-12-3103297723core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-12-3103297723core:FurnitureFittings2023-12-3103297723core:MotorVehicles2023-12-3103297723core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-12-3103297723core:FurnitureFittings2022-12-3103297723core:MotorVehicles2022-12-3103297723core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3103297723core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3103297723core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3103297723core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3103297723core:CurrentFinancialInstruments2023-12-3103297723core:CurrentFinancialInstruments2022-12-3103297723core:Non-currentFinancialInstruments2023-12-3103297723core:Non-currentFinancialInstruments2022-12-3103297723core:ShareCapital2023-12-3103297723core:ShareCapital2022-12-3103297723core:RetainedEarningsAccumulatedLosses2023-12-3103297723core:RetainedEarningsAccumulatedLosses2022-12-3103297723core:ShareCapitalOrdinaryShares2023-12-3103297723core:ShareCapitalOrdinaryShares2022-12-3103297723bus:Director12023-01-012023-12-3103297723core:LandBuildingscore:LongLeaseholdAssets2023-01-012023-12-3103297723core:FurnitureFittings2023-01-012023-12-3103297723core:MotorVehicles2023-01-012023-12-31032977232022-01-012022-12-3103297723core:NetGoodwill2022-12-3103297723core:NetGoodwill2023-12-3103297723core:NetGoodwill2022-12-3103297723core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-12-3103297723core:FurnitureFittings2022-12-3103297723core:MotorVehicles2022-12-31032977232022-12-3103297723core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-01-012023-12-3103297723core:WithinOneYear2023-12-3103297723core:WithinOneYear2022-12-3103297723core:BetweenTwoFiveYears2023-12-3103297723core:BetweenTwoFiveYears2022-12-3103297723bus:PrivateLimitedCompanyLtd2023-01-012023-12-3103297723bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103297723bus:FRS1022023-01-012023-12-3103297723bus:AuditExemptWithAccountantsReport2023-01-012023-12-3103297723bus:CompanySecretary12023-01-012023-12-3103297723bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP