1 April 2023 v2024.39.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP140140372023-04-012024-03-31140140372024-03-31140140372023-03-3114014037core:WithinOneYear2024-03-3114014037core:WithinOneYear2023-03-3114014037core:AfterOneYear2024-03-3114014037core:AfterOneYear2023-03-3114014037core:ShareCapital2024-03-3114014037core:ShareCapital2023-03-3114014037core:RetainedEarningsAccumulatedLosses2024-03-3114014037core:RetainedEarningsAccumulatedLosses2023-03-3114014037bus:Director12023-04-012024-03-3114014037bus:RegisteredOffice2023-04-012024-03-3114014037core:NetGoodwill2023-04-012024-03-3114014037core:PlantMachinery2023-04-012024-03-3114014037core:OfficeEquipment2023-04-012024-03-3114014037core:FurnitureFittings2023-04-012024-03-31140140372022-04-012023-03-3114014037core:NetGoodwill2024-03-3114014037core:NetGoodwill2023-04-0114014037core:NetGoodwill2023-03-3114014037core:PlantMachinery2023-04-0114014037core:PlantMachinery2024-03-3114014037core:PlantMachinery2023-03-3114014037core:BetweenOneFiveYears2024-03-3114014037core:BetweenOneFiveYears2023-03-3114014037core:MoreThanFiveYears2024-03-3114014037core:MoreThanFiveYears2023-03-311401403712023-04-012024-03-3114014037countries:EnglandWales2023-04-012024-03-3114014037bus:AuditExemptWithAccountantsReport2023-04-012024-03-3114014037bus:PrivateLimitedCompanyLtd2023-04-012024-03-3114014037bus:SmallEntities2023-04-012024-03-3114014037bus:FullAccounts2023-04-012024-03-31
Company registration number:
14014037
Vistar Catering Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2024
Vistar Catering Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Vistar Catering Limited
Year ended
31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Vistar Catering Limited
for the year ended
31 March 2024
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Chartered Institute of Management Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com/​.
This report is made solely to the Board of Directors of
Vistar Catering Limited
, as a body, in accordance with the terms of my engagement letter dated 19 January 2024. My work has been undertaken solely to prepare for your approval the
financial statements
of
Vistar Catering Limited
and state those matters that I have agreed to state to the Board of Directors of
Vistar Catering Limited
, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com/​. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Vistar Catering Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Vistar 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 loss of
Vistar Catering Limited
. You consider that
Vistar Catering Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Vistar Catering Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Skynet Accountancy and Bookkeeping Ltd
B1 Vantage Business Park
Old Gloucester Road
Hambrook
Bristol
BS16 1GW
United Kingdom
Date:
18 August 2024
Vistar Catering Limited
Statement of Financial Position
31 March 2024
20242023
Note££
Fixed assets    
Intangible assets 5
4,200
 
5,600
 
Tangible assets 6
22,622
 
33,993
 
26,822
 
39,593
 
Current assets    
Stocks
2,856
 
2,031
 
Debtors 7
8,501
 
6,915
 
Cash at bank and in hand
8,964
 
7,889
 
20,321
 
16,835
 
Creditors: amounts falling due within one year 8
(73,517
)
(66,786
)
Net current liabilities
(53,196
)
(49,951
)
Total assets less current liabilities (26,374 ) (10,358 )
Creditors: amounts falling due after more than one year 9
(11,440
)
(14,505
)
Net liabilities
(37,814
)
(24,863
)
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
(37,815
)
(24,864
)
Shareholders deficit
(37,814
)
(24,863
)
For the year ending
31 March 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
18 August 2024
, and are signed on behalf of the board by:
Mrs Nadine Travis
Director
Company registration number:
14014037
Vistar Catering Limited
Notes to the Financial Statements
Year ended
31 March 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
3 Hartwood Gardens
,
Waterlooville
,
Hampshire
,
PO8 8RA
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The financial statements are prepared on a going concern basis based on the following director's assessment:
Increase in costs are challenging factors for the business however there haven't been any material uncertainties identified related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
In making this assessment, the company has taken into account all available information about at least 12 months from the date that the financial statements are authorised for issue.
The company meets day to day working capital requirements through its own cash resources and has adequate resources to continue in business for the foreseeable future. There is continuing support from the company director. The business will be looking for opportunities to reduce costs and to increase sales in next 12 months.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for sale of goods and rendering of services in normal course of business, net of discounts and Value Added Tax. Revenue from sales are recognised at the point at which food and beverage products are sold to the customers.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets - Goodwill

Goodwill is the difference between amounts paid on the acquisition of business and the fair value of the separable net assets. It is amortised on straight line basis to profit and loss account over its estimated economic life of 5 years. The company review for impairment indication annually.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% straight line
Office equipment
20% straight line
Fixtures and fittings
20% straight line

Impairment of fixed assets

At reporting end date, the company review the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. The recoverable amount of the asset is estimated if such indication exist. Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of cash generating unit to which the asset belongs. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
6
(2023:
6
).

5 Intangible assets

Goodwill
£
Cost  
At
1 April 2023
and
31 March 2024
7,000
 
Amortisation  
At
1 April 2023
1,400
 
Charge
1,400
 
At
31 March 2024
2,800
 
Carrying amount  
At
31 March 2024
4,200
 
At 31 March 2023
5,600
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2023
42,491
 
Additions
2,520
 
Disposals
(7,148
)
At
31 March 2024
37,863
 
Depreciation  
At
1 April 2023
8,498
 
Charge
7,372
 
Disposals
(1,429
)
Impairment losses
800
 
At
31 March 2024
15,241
 
Carrying amount  
At
31 March 2024
22,622
 
At 31 March 2023
33,993
 

7 Debtors

20242023
££
Other debtors
8,501
 
6,915
 
The debtors above include the following amounts falling due after more than one year:
20242023
££
Other debtors -  
1,130
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
4,439
 
4,439
 
Trade creditors
1,002
 
1,369
 
Taxation and social security
8,270
 
6,294
 
Other creditors
59,806
 
54,684
 
73,517
 
66,786
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
11,440
 
14,505
 

10 Operating leases

The company as lessee    
20242023
££
Not later than 1 year
27,304
 
27,564.00
 
Later than 1 year and not later than 5 years
131,212
 
133,010.00
 
Later than 5 years
182,028.00
 
208,032.00
 
340,544
 
368,606
 
The lease on the premises was assigned from the previous tenant and a period of 13 years remaining. Next rent review is due on 24 June 2027 and 24 June 2032.