Registered number
06432859
Advanced Catering Services Limited
Filleted Accounts
30 November 2023
CLH Accounting
Accountants
Masons Business Centre
159A Wellgate
Rotherham
S60 2NN
Advanced Catering Services Limited
Registered number: 06432859
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 22,571 28,827
Current assets
Stocks 95,477 94,310
Debtors 5 6,649 7,188
102,126 101,498
Creditors: amounts falling due within one year 6 (176,871) (150,924)
Net current liabilities (74,745) (49,426)
Total assets less current liabilities (52,174) (20,599)
Creditors: amounts falling due after more than one year 7 (39,682) (49,005)
Provisions for liabilities (4,288) (5,477)
Net liabilities (96,144) (75,081)
Capital and reserves
Called up share capital 100 100
Profit and loss account (96,244) (75,181)
Shareholders' funds (96,144) (75,081)
The director is 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 director acknowledges his 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.
S. Highton
Director
Approved by the board on 12 August 2024
Advanced Catering Services Limited
Notes to the Accounts
for the year ended 30 November 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Motor vehicles 25% reducing balance
Computer equipment 33% & 20% straight line
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 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 8,500
At 30 November 2023 8,500
Amortisation
At 1 December 2022 8,500
At 30 November 2023 8,500
Net book value
At 30 November 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 72,583
At 30 November 2023 72,583
Depreciation
At 1 December 2022 43,756
Charge for the year 6,256
At 30 November 2023 50,012
Net book value
At 30 November 2023 22,571
At 30 November 2022 28,827
5 Debtors 2023 2022
£ £
Trade debtors 5,205 5,771
Other debtors 1,444 1,417
6,649 7,188
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 14,845 10,613
Obligations under finance lease and hire purchase contracts 3,396 3,400
Trade creditors 1,233 5,088
Taxation and social security costs 303 354
Other creditors 157,094 131,469
176,871 150,924
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 35,143 41,072
Obligations under finance lease and hire purchase contracts 4,539 7,933
39,682 49,005
(Bounce Back Loan - Coronavirus Government Backed Loan)
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 7,935 11,332
Liabilities are secured on the assets to which they relate
9 Controlling party
The company is controlled by Mr S. Highton who is the sole Director and a 75% shareholder. The remaining 25% shareholding is held by Angela Lazenby who is the Company Secretary.
10 Other information
Advanced Catering Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4a and 4b High Street
Bassingham
Lincoln
LN5 9JZ
Advanced Catering Services Limited 06432859 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 S. Highton No description of principal activity 06432859 2021-12-01 2022-11-30 06432859 core:WithinOneYear 2022-11-30 06432859 core:AfterOneYear 2022-11-30 06432859 core:ShareCapital 2022-11-30 06432859 core:RetainedEarningsAccumulatedLosses 2022-11-30 06432859 2022-12-01 2023-11-30 06432859 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 06432859 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 06432859 bus:Director40 2022-12-01 2023-11-30 06432859 1 2022-12-01 2023-11-30 06432859 2 2022-12-01 2023-11-30 06432859 core:PlantMachinery 2022-12-01 2023-11-30 06432859 countries:England 2022-12-01 2023-11-30 06432859 bus:FRS102 2022-12-01 2023-11-30 06432859 bus:FilletedAccounts 2022-12-01 2023-11-30 06432859 2023-11-30 06432859 core:WithinOneYear 2023-11-30 06432859 core:AfterOneYear 2023-11-30 06432859 core:ShareCapital 2023-11-30 06432859 core:RetainedEarningsAccumulatedLosses 2023-11-30 06432859 core:Goodwill 2023-11-30 06432859 core:PlantMachinery 2023-11-30 06432859 2022-11-30 06432859 core:Goodwill 2022-11-30 06432859 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure