Company Registration No. 00620727 (England and Wales)
MOUNT STREET CATERERS LIMITED
Unaudited accounts
for the year ended 31 October 2023
MOUNT STREET CATERERS LIMITED
Unaudited accounts
Contents
MOUNT STREET CATERERS LIMITED
Company Information
for the year ended 31 October 2023
Directors
Mr R Fiori
Mr A Fiori
Company Number
00620727 (England and Wales)
Registered Office
123 MOUNT STREET
LONDON
W1K 3NP
ENGLAND
Accountants
Kaushik Khiroya, AFA
LMK ACCOUNTING LTD
THE GATEHOUSE
GATEHOUSE WAY
AYLESBURY
HP19 8DB
MOUNT STREET CATERERS LIMITED
Statement of financial position
as at 31 October 2023
Tangible assets
346,700
358,971
Cash at bank and in hand
52,258
35,190
Creditors: amounts falling due within one year
(628,747)
(627,432)
Net current liabilities
(197,626)
(190,254)
Total assets less current liabilities
149,149
168,792
Creditors: amounts falling due after more than one year
(45,630)
(45,630)
Net assets
103,519
123,162
Called up share capital
1,000
1,000
Profit and loss account
102,519
122,162
Shareholders' funds
103,519
123,162
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by
Mr R Fiori
Director
Company Registration No. 00620727
MOUNT STREET CATERERS LIMITED
Notes to the Accounts
for the year ended 31 October 2023
MOUNT STREET CATERERS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 00620727. The registered office is 123 MOUNT STREET, LONDON, W1K 3NP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Period of lease
Motor vehicles
Reducing balance - 25%
Fixtures & fittings
Reducing balance - 10%
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
MOUNT STREET CATERERS LIMITED
Notes to the Accounts
for the year ended 31 October 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments are classified by the directors as basic or advanced following the condiTions in FRS 102 section 11.
Basic financial instruments, which include trade and other receivables and payables, cash and bank balances, are amortised at cost.
Advanced financial instruments which include interest rate swap and forward foreign exchange contracts, are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
69,107
10,190
662,145
741,442
Additions
-
-
26,968
26,968
At 31 October 2023
69,107
10,190
689,113
768,410
At 1 November 2022
69,107
5,891
307,473
382,471
Charge for the year
-
1,075
38,164
39,239
At 31 October 2023
69,107
6,966
345,637
421,710
At 31 October 2023
-
3,224
343,476
346,700
At 31 October 2022
-
4,299
354,672
358,971
5
Investments
Subsidiary undertakings
Valuation at 1 November 2022
75
Valuation at 31 October 2023
75
MOUNT STREET CATERERS LIMITED
Notes to the Accounts
for the year ended 31 October 2023
Amounts falling due within one year
Trade debtors
11,079
10,556
Accrued income and prepayments
32,917
31,831
Other debtors
291,000
291,000
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
38,520
42,900
Trade creditors
189,657
118,640
Amounts owed to group undertakings and other participating interests
125,973
125,973
Taxes and social security
39,757
9,456
Loans from directors
76,580
196,580
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 37 (2022: 33).