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REGISTERED NUMBER: 03805751 (England and Wales)
















A F & E F LIMITED
TRADING AS
AIRE VALLEY CATERING

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






A F & E F LIMITED (REGISTERED NUMBER: 03805751)
TRADING AS AIRE VALLEY CATERING






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A F & E F LIMITED
TRADING AS AIRE VALLEY CATERING

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: E J Cressey
M A Franklin
J A Franklin
J A Needham



SECRETARY: E J Cressey



REGISTERED OFFICE: Suite 4
Woodhouse Grange Business Centre
Sutton on Derwent
York
YO41 4DF



REGISTERED NUMBER: 03805751 (England and Wales)



ACCOUNTANTS: UHY BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY



BANKERS: HSBC Bank Plc
PO Box 105
33 Park Row
Leeds
West Yorkshire
LS1 1LD

A F & E F LIMITED (REGISTERED NUMBER: 03805751)
TRADING AS AIRE VALLEY CATERING

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 51,443 43,181
51,443 43,181

CURRENT ASSETS
Stocks 14,806 21,806
Debtors 6 1,017,149 868,167
Cash at bank and in hand 221,254 50,566
1,253,209 940,539
CREDITORS
Amounts falling due within one year 7 991,348 793,331
NET CURRENT ASSETS 261,861 147,208
TOTAL ASSETS LESS CURRENT
LIABILITIES

313,304

190,389

PROVISIONS FOR LIABILITIES 12,861 10,795
NET ASSETS 300,443 179,594

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Retained earnings 260,443 139,594
SHAREHOLDERS' FUNDS 300,443 179,594

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

A F & E F LIMITED (REGISTERED NUMBER: 03805751)
TRADING AS AIRE VALLEY CATERING

BALANCE SHEET - continued
31 AUGUST 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





E J Cressey - Director


A F & E F LIMITED (REGISTERED NUMBER: 03805751)
TRADING AS AIRE VALLEY CATERING

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

A F & E F Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the net invoice value of goods and services supplied in the year, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at the transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.


A F & E F LIMITED (REGISTERED NUMBER: 03805751)
TRADING AS AIRE VALLEY CATERING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Finance arrangements
The company uses finance arrangements in respect of its trade debtors. The nature of the arrangements are such that separate presentation of the trade debtors and the related finance is appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2022
and 31 August 2023 173,055
AMORTISATION
At 1 September 2022
and 31 August 2023 173,055
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

A F & E F LIMITED (REGISTERED NUMBER: 03805751)
TRADING AS AIRE VALLEY CATERING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 September 2022 105,859
Additions 22,210
At 31 August 2023 128,069
DEPRECIATION
At 1 September 2022 62,678
Charge for year 13,948
At 31 August 2023 76,626
NET BOOK VALUE
At 31 August 2023 51,443
At 31 August 2022 43,181

6. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Trade debtors 679,310 535,759
Other debtors 272,138 266,707
951,448 802,466

Amounts falling due after more than one year:
Other debtors 65,701 65,701

Aggregate amounts 1,017,149 868,167

Trade debtors amounting to £386,132 (2022: £280,687) have been factored.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 390,110 472,597
Taxation and social security 153,922 62,895
Other creditors 447,316 257,839
991,348 793,331

A F & E F LIMITED (REGISTERED NUMBER: 03805751)
TRADING AS AIRE VALLEY CATERING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 21,210 31,698
Between one and five years 23,857 12,165
45,067 43,863

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Amounts due to factoring company 284,138 203,502

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£ £
E J Cressey
Balance outstanding at start of year 258,948 258,948
Amounts advanced 180,776 134,340
Amounts repaid (180,776 ) (134,340 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 258,948 258,948

Interest has been charged at the HMRC approved rate.