Registered number
05954906
Caterbay Limited
Unaudited Filleted Accounts
31 October 2023
Caterbay Limited
Registered number: 05954906
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,197 3,663
Current assets
Stocks 32,000 32,000
Cash at bank and in hand 238,344 286,428
270,344 318,428
Creditors: amounts falling due within one year 4 (101,696) (118,836)
Net current assets 168,648 199,592
Total assets less current liabilities 171,845 203,255
Provisions for liabilities (537) (331)
Net assets 171,308 202,924
Capital and reserves
Called up share capital 2 2
Profit and loss account 171,306 202,922
Shareholders' funds 171,308 202,924
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 and delivered 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.
Mr AM Bell
Director
Approved by the board on 17 July 2024
Caterbay Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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% on written down value
Motor vehicles 25% on written down value
Stocks
Stocks 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 (which is usually the invoice 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 (which is usually the invoice 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 13,364 23,700 37,064
Additions 600 - 600
At 31 October 2023 13,964 23,700 37,664
Depreciation
At 1 November 2022 11,890 21,511 33,401
Charge for the year 519 547 1,066
At 31 October 2023 12,409 22,058 34,467
Net book value
At 31 October 2023 1,555 1,642 3,197
At 31 October 2022 1,474 2,189 3,663
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 25,808 29,523
Other creditors 75,888 89,313
101,696 118,836
5 Related party transactions
The company is controlled by the directors but in their opinion no director has overall control.
During the year dividends of £76000 (2022: £35500) were paid to Mr AM Bell (£56000) and Mrs JO Hambleton (£20000). At the year end £17459 (2022: £17459) was owed to Mrs JO Hambleton and £960 (2022: £19960) was owed to Mr AM Bell.
6 Other information
Caterbay Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Warehouse
Brockholes View
Preston
PR1 4BH
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