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Registration number: 06180406

Jacaranda Catering Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Jacaranda Catering Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Jacaranda Catering Limited

Company Information

Directors

Mr J Williams

Mr J P Daines

Mr I J Williams

Company secretary

Mr J Williams

Registered office

Riverground Stables
Cowdray Park
Midhurst
West Sussex
GU29 9AL

Accountants

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Jacaranda Catering Limited

(Registration number: 06180406)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

164,939

198,041

Current assets

 

Debtors

6

93,356

134,903

Cash at bank and in hand

 

230,807

330,480

 

324,163

465,383

Creditors: Amounts falling due within one year

7

(381,987)

(522,303)

Net current liabilities

 

(57,824)

(56,920)

Total assets less current liabilities

 

107,115

141,121

Creditors: Amounts falling due after more than one year

7

-

(74,862)

Provisions for liabilities

(20,049)

(20,640)

Net assets

 

87,066

45,619

Capital and reserves

 

Called up share capital

8

463

463

Retained earnings

86,603

45,156

Shareholders' funds

 

87,066

45,619

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 12 April 2024 and signed on its behalf by:
 

 

Jacaranda Catering Limited

(Registration number: 06180406)
Balance Sheet as at 31 December 2023

.........................................
Mr I J Williams
Director

 

Jacaranda Catering Limited

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 and Wales.

The address of its registered office is:
Riverground Stables
Cowdray Park
Midhurst
West Sussex
GU29 9AL
England

These financial statements were authorised for issue by the Board on 12 April 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.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

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.

 

Jacaranda Catering Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and 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.

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

25% reducing balance basis

Motor Vehicles

25% reducing balance basis

Leasehold Building

2.5% straight line basis

 

Jacaranda Catering Limited

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 10 years

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.

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

 

Jacaranda Catering Limited

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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 77 (2022 - 24).

 

Jacaranda Catering Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

1,196,450

1,196,450

At 31 December 2023

1,196,450

1,196,450

Amortisation

At 1 January 2023

1,196,450

1,196,450

At 31 December 2023

1,196,450

1,196,450

Carrying amount

At 31 December 2023

-

-

The aggregate amount of research and development expenditure recognised as an expense during the period is £- (2022 - £1,220).
 

 

Jacaranda Catering Limited

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

97,940

465,703

131,481

695,124

Additions

-

940

-

940

Disposals

-

(4,889)

-

(4,889)

At 31 December 2023

97,940

461,754

131,481

691,175

Depreciation

At 1 January 2023

11,547

378,588

106,947

497,082

Charge for the year

1,649

20,409

11,528

33,586

Eliminated on disposal

-

(4,432)

-

(4,432)

At 31 December 2023

13,196

394,565

118,475

526,236

Carrying amount

At 31 December 2023

84,744

67,189

13,006

164,939

At 31 December 2022

86,393

87,115

24,533

198,041

Included within the net book value of land and buildings above is £84,743 (2022 - £86,393) in respect of long leasehold land and buildings.
 

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

3,205

32,549

Amounts owed by related parties

41,697

48,731

Other debtors

 

48,454

53,623

   

93,356

134,903

 

Jacaranda Catering Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

-

19,917

Trade creditors

 

7,990

37,738

Taxation and social security

 

49,186

59,501

Accruals and deferred income

 

40,140

6,000

Other creditors

 

284,671

399,147

 

381,987

522,303

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

-

74,862

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Preference share of £0.00 each

30,000

3.00

30,000

3.00

Ordinary share B of £0.00 each

2,970,000

297.00

2,970,000

297.00

Ordinary share C of £0.00 each

990,000

99.00

990,000

99.00

Ordinary share D of £0.00 each

424,284

42.43

424,284

42.43

Ordinary share E of £0.00 each

212,142

21.21

212,142

21.21

4,626,426

462.64

4,626,426

462.64

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

-

74,862

 

Jacaranda Catering Limited

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

Current loans and borrowings

2023
£

2022
£

Bank borrowings

-

19,917