S.O.S. Catering Equipment & Engineering Ltd 04129990 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is continued to be the supply and repair of catering equipment. Digita Accounts Production Advanced 6.30.9574.0 true true 04129990 2023-01-01 2023-12-31 04129990 2023-12-31 04129990 bus:OrdinaryShareClass1 2023-12-31 04129990 core:CurrentFinancialInstruments 2023-12-31 04129990 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04129990 core:FurnitureFittingsToolsEquipment 2023-12-31 04129990 core:LandBuildings 2023-12-31 04129990 core:MotorVehicles 2023-12-31 04129990 core:OtherPropertyPlantEquipment 2023-12-31 04129990 bus:SmallEntities 2023-01-01 2023-12-31 04129990 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04129990 bus:FullAccounts 2023-01-01 2023-12-31 04129990 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04129990 bus:RegisteredOffice 2023-01-01 2023-12-31 04129990 bus:Director1 2023-01-01 2023-12-31 04129990 bus:Director2 2023-01-01 2023-12-31 04129990 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04129990 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04129990 core:FurnitureFittings 2023-01-01 2023-12-31 04129990 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 04129990 core:LandBuildings 2023-01-01 2023-12-31 04129990 core:LeaseholdImprovements 2023-01-01 2023-12-31 04129990 core:MotorVehicles 2023-01-01 2023-12-31 04129990 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04129990 core:PlantMachinery 2023-01-01 2023-12-31 04129990 core:OtherRelatedParties 2023-01-01 2023-12-31 04129990 countries:England 2023-01-01 2023-12-31 04129990 2022-12-31 04129990 core:FurnitureFittingsToolsEquipment 2022-12-31 04129990 core:LandBuildings 2022-12-31 04129990 core:MotorVehicles 2022-12-31 04129990 core:OtherPropertyPlantEquipment 2022-12-31 04129990 2022-01-01 2022-12-31 04129990 2022-12-31 04129990 bus:OrdinaryShareClass1 2022-12-31 04129990 core:CurrentFinancialInstruments 2022-12-31 04129990 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04129990 core:FurnitureFittingsToolsEquipment 2022-12-31 04129990 core:LandBuildings 2022-12-31 04129990 core:MotorVehicles 2022-12-31 04129990 core:OtherPropertyPlantEquipment 2022-12-31 04129990 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04129990

S.O.S. Catering Equipment & Engineering Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

S.O.S. Catering Equipment & Engineering Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

S.O.S. Catering Equipment & Engineering Ltd

Company Information

Directors

Elias Papanicolaou

Yiannakis Ioannou

Registered office

206-208 Billet Road
London
E17 5DX

Accountants

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
S.O.S. Catering Equipment & Engineering Ltd
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of S.O.S. Catering Equipment & Engineering Ltd for the year ended 31 December 2023 as set out on pages 3 to 10 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/regulation.

This report is made solely to the Board of Directors of S.O.S. Catering Equipment & Engineering Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of S.O.S. Catering Equipment & Engineering Ltd and state those matters that we have agreed to state to the Board of Directors of S.O.S. Catering Equipment & Engineering Ltd, 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 S.O.S. Catering Equipment & Engineering Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that S.O.S. Catering Equipment & Engineering Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of S.O.S. Catering Equipment & Engineering Ltd. You consider that S.O.S. Catering Equipment & Engineering Ltd 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 accounts of S.O.S. Catering Equipment & Engineering Ltd. 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 accounts.

 

S.O.S. Catering Equipment & Engineering Ltd

(Registration number: 04129990)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

190,933

93,294

Current assets

 

Stocks

5

174,743

158,862

Debtors

6

316,246

262,962

Cash at bank and in hand

 

110,847

90,436

 

601,836

512,260

Creditors: Amounts falling due within one year

7

(456,412)

(371,760)

Net current assets

 

145,424

140,500

Total assets less current liabilities

 

336,357

233,794

Provisions for liabilities

(37,584)

(23,324)

Net assets

 

298,773

210,470

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

298,673

210,370

Shareholders' funds

 

298,773

210,470

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 March 2024 and signed on its behalf by:
 

.........................................
Yiannakis Ioannou
Director

 

S.O.S. Catering Equipment & Engineering Ltd

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:
206-208 Billet Road
London
E17 5DX

The principal place of business is:
206-208 Billet Road
London
E17 5DX

These financial statements were authorised for issue by the Board on 13 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 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.

 

S.O.S. Catering Equipment & Engineering Ltd

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

Plant and machinery

15% straight line

Furniture and fittings

15% straight line

Leasehold Improvements

20% straight line

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.

 

S.O.S. Catering Equipment & Engineering Ltd

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 directors) during the year, was 15 (2022 - 13).

 

S.O.S. Catering Equipment & Engineering Ltd

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
 £

Other tangible assets
£

Cost or valuation

At 1 January 2023

-

27,963

22,600

133,306

Additions

52,838

-

-

88,207

At 31 December 2023

52,838

27,963

22,600

221,513

Depreciation

At 1 January 2023

-

27,963

18,474

44,138

Charge for the year

10,568

-

2,475

30,363

At 31 December 2023

10,568

27,963

20,949

74,501

Carrying amount

At 31 December 2023

42,270

-

1,651

147,012

At 31 December 2022

-

-

4,126

89,168

Total
£

Cost or valuation

At 1 January 2023

183,869

Additions

141,045

At 31 December 2023

324,914

Depreciation

At 1 January 2023

90,575

Charge for the year

43,406

At 31 December 2023

133,981

Carrying amount

At 31 December 2023

190,933

At 31 December 2022

93,294

Included within the net book value of land and buildings above is £42,270 (2022 - £Nil) in respect of long leasehold land and buildings.
 

 

S.O.S. Catering Equipment & Engineering Ltd

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

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

174,743

158,862

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

283,401

257,117

Amounts owed by related parties

11

23,000

-

Prepayments

 

9,845

5,845

   

316,246

262,962

 

S.O.S. Catering Equipment & Engineering Ltd

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

277,516

252,401

Taxation and social security

141,514

82,039

Accruals and deferred income

33,174

33,174

Directors loan account

4,208

4,146

456,412

371,760

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share capital of £1 each

100

100

100

100

         

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £320.00 per each Ordinary share capital

 

32,000

 

32,000

         

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £240,000 (2022 - £288,000). This figure represents £48,000 annual lease agreement covering the remaining term of the 5 year lease on the trading premises.
In addition the company has annual contract hire commitments for its vehicles, the total amount of financial commitments not included in the balance sheet is £13,760 (2022 - £28,888).

 

S.O.S. Catering Equipment & Engineering Ltd

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

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

52,684

55,302

Summary of transactions with other related parties

At the year end there was amounts owed to directors of £4,208 (2022 - £4,146).