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Company registration number: 02824757
Mortons Catering Limited
Unaudited filleted financial statements
for the year ended
30 June 2023
Prepared by:
THOMAS NOCK MARTIN LIMITED
CHARTERED ACCOUNTANTS
BRIERLEY HILL
Mortons Catering Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Mortons Catering Limited
Directors and other information
Directors Paul Salisbury
Paul Hales
Susan Salisbury
Alison Hales
Sebastien Salisbury
Joseph Salisbury
Thomas Hales
Phoebe Hales (Appointed 19 April 2023)
Secretary Paul Salisbury
Company number 02824757
Registered office 5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Business address Warwick Road
Chadwick End
Warwickshire
B93 0BN
Accountants Thomas Nock Martin Limited
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Bankers Lloyds Bank plc
Colmore Row
Birmingham
B3 3BD
Mortons Catering Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Mortons Catering Limited
Year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mortons Catering Limited for the year ended 30 June 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Mortons Catering Limited, as a body, in accordance with the terms of our engagement letter dated 5 March 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Mortons Catering Limited and state those matters that we have agreed to state to the board of directors of Mortons Catering Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mortons Catering Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Mortons Catering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mortons Catering Limited. You consider that Mortons Catering Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Mortons Catering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Thomas Nock Martin Limited
Chartered Accountants
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
19 February 2024
Mortons Catering Limited
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 40,921 45,806
_______ _______
40,921 45,806
Current assets
Stocks 18,520 17,398
Debtors 6 26,877 59,872
Cash at bank and in hand 784,185 681,510
_______ _______
829,582 758,780
Creditors: amounts falling due
within one year 7 ( 337,817) ( 331,683)
_______ _______
Net current assets 491,765 427,097
_______ _______
Total assets less current liabilities 532,686 472,903
Provisions for liabilities ( 9,600) ( 10,700)
_______ _______
Net assets 523,086 462,203
_______ _______
Capital and reserves
Called up share capital 8 4 4
Profit and loss account 523,082 462,199
_______ _______
Shareholders funds 523,086 462,203
_______ _______
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 February 2024 , and are signed on behalf of the board by:
Paul Salisbury
Director
Company registration number: 02824757
Mortons Catering Limited
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 5 Hagley Court South, The Waterfront, Brierley Hill, West Midlands, DY5 1XE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents total takings, excluding value added tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight line basis .
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements - Straight line over the life of the lease
Fixtures, fittings and equipment - 15 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors and creditors.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 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expenses in the period in which the related service is provided.
4. Employee numbers
Staff are employed by Mortons Bar & Grill Limited a related company. The charge in the accounts represents recharges of wages, national insurance and pension costs during the year.
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 133,561 169,977 11,335 314,873
Additions - 12,540 - 12,540
_______ _______ _______ _______
At 30 June 2023 133,561 182,517 11,335 327,413
_______ _______ _______ _______
Depreciation
At 1 July 2022 112,169 145,563 11,335 269,067
Charge for the year 5,344 12,081 - 17,425
_______ _______ _______ _______
At 30 June 2023 117,513 157,644 11,335 286,492
_______ _______ _______ _______
Carrying amount
At 30 June 2023 16,048 24,873 - 40,921
_______ _______ _______ _______
At 30 June 2022 21,392 24,414 - 45,806
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Other debtors 26,877 59,872
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 56,548 86,505
Corporation tax 35,200 66,000
Social security and other taxes 43,888 51,130
Other creditors 202,181 128,048
_______ _______
337,817 331,683
_______ _______
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary A shares of £ 0.01 each 140 1.40 140 1.40
Ordinary B shares of £ 0.01 each 140 1.40 140 1.40
Ordinary C to H shares of £ 0.01 each 120 1.20 120 1.20
_______ _______ _______ _______
400 4.00 400 4.00
_______ _______ _______ _______
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Later than 1 year and not later than 5 years 345,000 460,000
_______ _______