3 false false false false false false false false false true false false false false false false No description of principal activity 2022-08-31 Sage Accounts Production Advanced 2021 - FRS102_2021 17,661 4,861 12,800 12,386 2,617 4,861 10,142 2,658 5,275 xbrli:pure xbrli:shares iso4217:GBP 05011896 2022-08-31 2023-08-30 05011896 2023-08-30 05011896 2022-08-30 05011896 2021-08-31 2022-08-30 05011896 2022-08-30 05011896 core:MotorVehicles 2022-08-31 2023-08-30 05011896 bus:OrdinaryShareClass1 2022-08-31 2023-08-30 05011896 bus:OrdinaryShareClass2 2022-08-31 2023-08-30 05011896 bus:Director2 2022-08-31 2023-08-30 05011896 core:WithinOneYear 2023-08-30 05011896 core:WithinOneYear 2022-08-30 05011896 core:MotorVehicles 2022-08-30 05011896 core:MotorVehicles 2023-08-30 05011896 core:AfterOneYear 2023-08-30 05011896 core:AfterOneYear 2022-08-30 05011896 core:ShareCapital 2023-08-30 05011896 core:ShareCapital 2022-08-30 05011896 core:RetainedEarningsAccumulatedLosses 2023-08-30 05011896 core:RetainedEarningsAccumulatedLosses 2022-08-30 05011896 core:AcceleratedTaxDepreciationDeferredTax 2023-08-30 05011896 core:AcceleratedTaxDepreciationDeferredTax 2022-08-30 05011896 core:MotorVehicles 2022-08-30 05011896 bus:SmallEntities 2022-08-31 2023-08-30 05011896 bus:AuditExemptWithAccountantsReport 2022-08-31 2023-08-30 05011896 bus:FullAccounts 2022-08-31 2023-08-30 05011896 bus:SmallCompaniesRegimeForAccounts 2022-08-31 2023-08-30 05011896 bus:PrivateLimitedCompanyLtd 2022-08-31 2023-08-30 05011896 bus:OrdinaryShareClass1 2023-08-30 05011896 bus:OrdinaryShareClass1 2022-08-30 05011896 bus:OrdinaryShareClass2 2023-08-30 05011896 bus:OrdinaryShareClass2 2022-08-30 05011896 bus:AllOrdinaryShares 2023-08-30 05011896 bus:AllOrdinaryShares 2022-08-30 05011896 core:AfterOneYear 1 2022-08-30
COMPANY REGISTRATION NUMBER: 05011896
CATERING SOLUTIONS (NORTH EAST) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 August 2023
CATERING SOLUTIONS (NORTH EAST) LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30th AUGUST 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 7
CATERING SOLUTIONS (NORTH EAST) LIMITED
STATEMENT OF FINANCIAL POSITION
30 August 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
2,658
5,275
CURRENT ASSETS
Stock and work in progress
6
16,152
18,737
Debtors
7
24,726
31,994
Cash at bank and in hand
59,243
227,077
----------
----------
100,121
277,808
CREDITORS: amounts falling due within one year
8
45,541
49,157
----------
----------
NET CURRENT ASSETS
54,580
228,651
---------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
57,238
233,926
CREDITORS: amounts falling due after more than one year
9
7,333
143,910
PROVISIONS
Taxation including deferred tax
216
649
---------
----------
NET ASSETS
49,689
89,367
---------
----------
CAPITAL AND RESERVES
Called up share capital
11
200
200
Profit and loss account
49,489
89,167
---------
---------
SHAREHOLDERS FUNDS
49,689
89,367
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30th August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CATERING SOLUTIONS (NORTH EAST) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 August 2023
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
A. L. Scott
Director
Company registration number: 05011896
CATERING SOLUTIONS (NORTH EAST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30th AUGUST 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 6 Morgan Business Centre, Mylord Crescent, Camperdown, Newcastle upon Tyne, NE12 5UJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on the going concern basis. The directors consider that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's directors, bankers and other lending agents during this time.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
25% straight line
Stock and work in progress
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 stock to its present location and condition. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. Profit is included in the valuation of work in progress if it is reasonably certain that it is appropriate to do so.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
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.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. TANGIBLE ASSETS
Motor vehicles
£
Cost
At 31st August 2022
17,661
Disposals
( 4,861)
---------
At 30th August 2023
12,800
---------
Depreciation
At 31st August 2022
12,386
Charge for the year
2,617
Disposals
( 4,861)
---------
At 30th August 2023
10,142
---------
Carrying amount
At 30th August 2023
2,658
---------
At 30th August 2022
5,275
---------
6. STOCK AND WORK IN PROGRESS
2023
2022
£
£
Stock
15,290
17,000
Work in progress
862
1,737
---------
---------
16,152
18,737
---------
---------
7. DEBTORS
2023
2022
£
£
Trade debtors
21,050
31,852
Prepayments and accrued income
76
142
Corporation tax repayable
3,600
---------
---------
24,726
31,994
---------
---------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans
4,278
4,624
Trade creditors
1,020
10,451
Accruals and deferred income
3,705
3,443
Corporation tax
9,445
Social security and other taxes
10,231
10,198
Director loan accounts
16,105
Other creditors
10,202
10,996
---------
---------
45,541
49,157
---------
---------
9. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans
7,333
11,333
Director's loan account
132,577
-------
----------
7,333
143,910
-------
----------
10. DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions
216
649
----
----
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
216
649
----
----
11. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
Ordinary 'A' shares of £ 1 each
100
100
100
100
----
----
----
----
200
200
200
200
----
----
----
----
12. RELATED PARTY TRANSACTIONS
A director's loan account processes the transactions between the director, B. G. Glover and Catering Solutions (North East) Limited. At the year end £16,105 (2022: £132,577) was owing on this loan and this is included within creditors: amounts falling due within one year (2022: creditors: amounts falling due after more than one year). No further transactions with related parties were undertaken such as are required to be disclosed under the FRS 102 Section 1A small entities.