Signature Catering Ltd
Registered number: 11555413
Statement of Financial Position
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 3,941 12,838
Current assets
Stocks 500 500
Debtors 5 8,653 21,940
Cash at bank and in hand 11,138 2,755
20,291 25,195
Creditors: amounts falling due within one year 6 (23,099) (22,926)
Net current (liabilities)/assets (2,808) 2,269
Total assets less current liabilities 1,133 15,107
Creditors: amounts falling due after more than one year 7 (37,280) (40,287)
Net liabilities (36,147) (25,180)
Capital and reserves
Called up share capital 100 100
Profit and loss account (36,247) (25,280)
Shareholders' funds (36,147) (25,180)
The directors are 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 directors acknowledge their 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 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.
Lisa Hearn
Director
Approved by the board on 19 January 2024
Signature Catering Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The directors consider the company to be a going concern, notwithstanding that there are losses of £36,147. They have reviewed the potential future of the company and consider that it will continue to trade profitably for the foreseeable future.
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 and machinery 25% straight line
Inventories
Inventories 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, 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. 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.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 10 9
3 Government grants
The company has received government grants under the coronavirus job retention scheme. These grants are shown in the profit and loss for the period in which the related salary expenditure was incurred.
2023 2022
£ £
Grants received under the covid job retention scheme - 10,905
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 35,586
At 31 July 2023 35,586
Depreciation
At 1 August 2022 22,748
Charge for the year 8,897
At 31 July 2023 31,645
Net book value
At 31 July 2023 3,941
At 31 July 2022 12,838
5 Debtors 2023 2022
£ £
Trade debtors - 10,425
Prepayments 696 25
Other debtors 7,957 11,490
8,653 21,940
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,391 5,896
Trade creditors - 379
Accruals 1,177 945
Corporation tax 613 1,900
Other taxes and social security costs 14,783 13,023
Other creditors 135 783
23,099 22,926
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 37,280 40,287
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Lisa Hearn
Repayable on demand 8,667 - 3,682 4,985
8,667 - 3,682 4,985
9 Other information
Signature Catering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
Signature Catering Ltd 11555413 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts April 2022 Lisa Hearn No description of principal activity 11555413 2021-08-01 2022-07-31 11555413 core:WithinOneYear 2022-07-31 11555413 core:AfterOneYear 2022-07-31 11555413 core:ShareCapital 2022-07-31 11555413 core:RetainedEarningsAccumulatedLosses 2022-07-31 11555413 2022-08-01 2023-07-31 11555413 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 11555413 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 11555413 bus:Director40 2022-08-01 2023-07-31 11555413 1 2022-08-01 2023-07-31 11555413 2 2022-08-01 2023-07-31 11555413 core:PlantMachinery 2022-08-01 2023-07-31 11555413 bus:Director1 2022-08-01 2023-07-31 11555413 bus:Director1 1 2022-08-01 2023-07-31 11555413 countries:England 2022-08-01 2023-07-31 11555413 bus:FRS102 2022-08-01 2023-07-31 11555413 bus:FullAccounts 2022-08-01 2023-07-31 11555413 2023-07-31 11555413 core:WithinOneYear 2023-07-31 11555413 core:AfterOneYear 2023-07-31 11555413 core:ShareCapital 2023-07-31 11555413 core:RetainedEarningsAccumulatedLosses 2023-07-31 11555413 core:PlantMachinery 2023-07-31 11555413 bus:Director1 1 2023-07-31 11555413 2022-07-31 11555413 core:PlantMachinery 2022-07-31 11555413 bus:Director1 1 2022-07-31 iso4217:GBP xbrli:pure