Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3116967false4443true2023-04-01Wholesale of goods to catering sectortrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05249209 2023-04-01 2024-03-31 05249209 2021-11-01 2023-03-31 05249209 2024-03-31 05249209 2023-03-31 05249209 c:Director1 2023-04-01 2024-03-31 05249209 c:Director2 2023-04-01 2024-03-31 05249209 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 05249209 d:Buildings d:ShortLeaseholdAssets 2024-03-31 05249209 d:Buildings d:ShortLeaseholdAssets 2023-03-31 05249209 d:LandBuildings 2024-03-31 05249209 d:LandBuildings 2023-03-31 05249209 d:PlantMachinery 2023-04-01 2024-03-31 05249209 d:PlantMachinery 2024-03-31 05249209 d:PlantMachinery 2023-03-31 05249209 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05249209 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05249209 d:MotorVehicles 2023-04-01 2024-03-31 05249209 d:MotorVehicles 2024-03-31 05249209 d:MotorVehicles 2023-03-31 05249209 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05249209 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05249209 d:FurnitureFittings 2023-04-01 2024-03-31 05249209 d:FurnitureFittings 2024-03-31 05249209 d:FurnitureFittings 2023-03-31 05249209 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05249209 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05249209 d:OfficeEquipment 2023-04-01 2024-03-31 05249209 d:OfficeEquipment 2024-03-31 05249209 d:OfficeEquipment 2023-03-31 05249209 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05249209 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05249209 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05249209 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05249209 d:CurrentFinancialInstruments 2024-03-31 05249209 d:CurrentFinancialInstruments 2023-03-31 05249209 d:Non-currentFinancialInstruments 2024-03-31 05249209 d:Non-currentFinancialInstruments 2023-03-31 05249209 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05249209 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05249209 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 05249209 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05249209 d:ShareCapital 2024-03-31 05249209 d:ShareCapital 2023-03-31 05249209 d:RetainedEarningsAccumulatedLosses 2024-03-31 05249209 d:RetainedEarningsAccumulatedLosses 2023-03-31 05249209 c:FRS102 2023-04-01 2024-03-31 05249209 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05249209 c:FullAccounts 2023-04-01 2024-03-31 05249209 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05249209 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 05249209 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 05249209 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 05249209 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05249209 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 05249209 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 05249209 d:LeasedAssetsHeldAsLessee 2024-03-31 05249209 d:LeasedAssetsHeldAsLessee 2023-03-31 05249209 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 05249209









ALTI'S CATERING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ALTI'S CATERING LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ALTI'S CATERING LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Alti's Catering Limited for the year ended 31 March 2024 which comprise  the Balance sheet and the related notes 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 https://www.icaew.com /regulation.

It is your duty to ensure that Alti's Catering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Alti's Catering Limited. You consider that Alti's Catering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Alti's Catering Limited. 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 financial statements.

  



Hurkan Sayman & Co
Chartered Accountants
291 Green Lanes
Palmers Green
London
N13 4XS
18 July 2024
Page 1

 
ALTI'S CATERING LIMITED
REGISTERED NUMBER: 05249209

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
845,189
907,661

  
845,189
907,661

Current assets
  

Stocks
  
1,116,426
1,110,652

Debtors: amounts falling due within one year
 5 
1,394,429
1,055,721

Cash at bank and in hand
 6 
120,730
74,819

  
2,631,585
2,241,192

Creditors: amounts falling due within one year
 7 
(1,238,985)
(1,027,693)

Net current assets
  
 
 
1,392,600
 
 
1,213,499

Total assets less current liabilities
  
2,237,789
2,121,160

Creditors: amounts falling due after more than one year
 8 
(7,636)
(10,597)

Provisions for liabilities
  

Deferred tax
 10 
(113,362)
(92,082)

  
 
 
(113,362)
 
 
(92,082)

Net assets
  
2,116,791
2,018,481


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,116,691
2,018,381

  
2,116,791
2,018,481


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 2

 
ALTI'S CATERING LIMITED
REGISTERED NUMBER: 05249209
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Musamettin Alti
................................................
Recep Alti
Director
Director
Date: 18 July 2024

The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
ALTI'S CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Alti's Catering Limited is a private company limited by share capital, incorporated in England and Wales, registration number 05249209. The address of the registered office is 291 Green Lanes, Palmers Green, London N13 4XS. The principle activity of the company is the wholesale of goods to the catering industry.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
ALTI'S CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
Over 25 years
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Office equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
ALTI'S CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to
Page 6

 
ALTI'S CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Page 7

 
ALTI'S CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees



The average monthly number of employees, including directors, during the year was 44 (2023 - 43).


4.


Tangible fixed assets




Page 8

 
ALTI'S CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)


S/Term Leasehold Property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 April 2023
424,175
850,892
657,651
13,071
16,214


Additions
-
8,967
106,465
-
2,776


Disposals
-
-
(62,885)
-
-



At 31 March 2024

424,175
859,859
701,231
13,071
18,990



Depreciation


At 1 April 2023
31,279
463,211
533,335
12,712
13,804


Charge for the year on owned assets
16,967
98,418
20,346
90
1,092


Charge for the year on financed assets
-
-
11,552
-
-


Disposals
-
-
(30,669)
-
-



At 31 March 2024

48,246
561,629
534,564
12,802
14,896



Net book value



At 31 March 2024
375,929
298,230
166,667
269
4,094



At 31 March 2023
392,896
387,680
124,316
359
2,410
Page 9

 
ALTI'S CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 April 2023
1,962,003


Additions
118,208


Disposals
(62,885)



At 31 March 2024

2,017,326



Depreciation


At 1 April 2023
1,054,341


Charge for the year on owned assets
136,913


Charge for the year on financed assets
11,552


Disposals
(30,669)



At 31 March 2024

1,172,137



Net book value



At 31 March 2024
845,189



At 31 March 2023
907,661




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Short leasehold
375,929
392,895

375,929
392,895


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£

Page 10

 
ALTI'S CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)



Motor vehicles
17,429
10,718

17,429
10,718

Page 11

 
ALTI'S CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
243,564
268,243

Other debtors
657,623
656,476

Prepayments and accrued income
493,242
131,002

1,394,429
1,055,721



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
120,730
74,819

120,730
74,819



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,085,072
918,199

Corporation tax
77,915
70,589

Other taxation and social security
14,837
11,191

Obligations under finance lease and hire purchase contracts
38,913
2,673

Other creditors
16,235
18,131

Accruals and deferred income
6,013
6,910

1,238,985
1,027,693



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
7,636
10,597

7,636
10,597


Page 12

 
ALTI'S CATERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
38,913
3,721

38,913
3,721


10.


Deferred taxation




2024


£






At beginning of year
(92,081)


Charged to profit or loss
(21,281)



At end of year
(113,362)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(113,363)
(92,081)

(113,363)
(92,081)


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £11,646 (2023 - £13,657). Contributions totalling £2,158 (2023 - £2,186) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 13