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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
Page
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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
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MOUNT STREET CATERERS LIMITED Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
346,700 
358,971 
Investments
75 
75 
346,775 
359,046 
Current assets
Inventories
43,867 
68,601 
Debtors
334,996 
333,387 
Cash at bank and in hand
52,258 
35,190 
431,121 
437,178 
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 
Capital and reserves
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
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MOUNT STREET CATERERS LIMITED Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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
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.
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MOUNT STREET CATERERS LIMITED Notes to the Accounts for the year ended 31 October 2023
Leased assets
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.
Pension costs
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
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.
4
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 
Depreciation
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 
Net book value
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 
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MOUNT STREET CATERERS LIMITED Notes to the Accounts for the year ended 31 October 2023
6
Debtors
2023 
2022 
£ 
£ 
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 
334,996 
333,387 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
38,520 
42,900 
VAT
145,885 
125,826 
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 
Accruals
12,375 
8,057 
628,747 
627,432 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
45,630 
45,630 
9
Average number of employees
During the year the average number of employees was 37 (2022: 33).
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