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Registered number: 03295512










ARTIZIAN CATERING SERVICES LIMITED










DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
ARTIZIAN CATERING SERVICES LIMITED
 

COMPANY INFORMATION


Director
A S Frith 




Registered number
03295512



Registered office
C/O James Cowper Kreston
8th Floor Reading Bridge House

George Street

Reading

Berkshire

RG1 8LS




Independent auditors
James Cowper Kreston Audit
Chartered Accountants and Statutory Auditor

8th Floor Reading Bridge House

George Street

Reading

Berkshire

RG1 8LS





 
ARTIZIAN CATERING SERVICES LIMITED
 

CONTENTS



Page
Director's report
1 - 2
Independent auditors' report
3 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Analysis of net debt
10
Notes to the financial statements
11 - 19

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The director presents her report and the financial statements for the year ended 31 March 2024.

Director

The director who served during the year was:

A S Frith 

Director's responsibilities statement

The director is responsible for preparing the Director's report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable her to ensure that the financial statements comply with the Companies Act 2006She is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:
 
so far as she is aware, there is no relevant audit information of which the Company's auditors are unaware, and

she has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsJames Cowper Kreston Auditwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Page 1

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024


Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 



A S Frith
Director
Date: 19 August 2024
Page 2

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARTIZIAN CATERING SERVICES LIMITED
 

Opinion


We have audited the financial statements of Artizian Catering Services Limited (the 'Company') for the year ended 31 March 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 March 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 3

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARTIZIAN CATERING SERVICES LIMITED (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Director's report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Director's report and from the requirement to prepare a Strategic report.


Responsibilities of directors
 

As explained more fully in the Director's responsibilities statement set out on page 1, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 4

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARTIZIAN CATERING SERVICES LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.


The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:
 
Enquiry of management and those charged with governance around actual and potential litigation and claims;
Enquiry of management and those charged with governance to identify any material instances of non compliance with laws and regulations;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work  to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.
 
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.


Page 5

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARTIZIAN CATERING SERVICES LIMITED (CONTINUED)



Darren O'Connor BSc (Hons) FCCA ACA (Senior Statutory Auditor)
  
for and on behalf of
James Cowper Kreston Audit
 
Chartered Accountants and Statutory Auditor
  
8th Floor Reading Bridge House
George Street
Reading
Berkshire
RG1 8LS

21 August 2024
Page 6

 
ARTIZIAN CATERING SERVICES LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
Note
£
£

  

Turnover
 4 
11,309,754
9,388,560

Cost of sales
  
(10,288,158)
(8,417,545)

Gross profit
  
1,021,596
971,015

Administrative expenses
  
(947,368)
(904,603)

Operating profit
 5 
74,228
66,412

Interest receivable and similar income
  
11,167
1,983

Profit before tax
  
85,395
68,395

Tax on profit
 9 
(20,237)
(9,061)

Profit for the financial year
  
65,158
59,334

There was no other comprehensive income for 2024 (2023: £NIL).

The notes on pages 11 to 19 form part of these financial statements.
Page 7

 
ARTIZIAN CATERING SERVICES LIMITED
REGISTERED NUMBER: 03295512

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 10 
7,089
5,838

  
7,089
5,838

Current assets
  

Debtors: amounts falling due within one year
 11 
1,949,225
2,122,418

Cash at bank and in hand
 12 
829,616
456,986

  
2,778,841
2,579,404

Creditors: amounts falling due within one year
 13 
(2,052,255)
(1,916,725)

Net current assets
  
 
 
726,586
 
 
662,679

Total assets less current liabilities
  
733,675
668,517

  

Net assets
  
733,675
668,517


Capital and reserves
  

Called up share capital 
 14 
16,200
16,200

Share premium account
 15 
48,100
48,100

Profit and loss account
 15 
669,375
604,217

  
733,675
668,517


The Company's financial statements have been prepared in accordance with the 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: 


A S Frith
Director
Date: 19 August 2024

The notes on pages 11 to 19 form part of these financial statements.
Page 8

 
ARTIZIAN CATERING SERVICES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
16,200
48,100
604,217
668,517



Profit for the year
-
-
65,158
65,158


At 31 March 2024
16,200
48,100
669,375
733,675


The notes on pages 11 to 19 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
16,200
48,100
544,883
609,183



Profit for the year
-
-
59,334
59,334


At 31 March 2023
16,200
48,100
604,217
668,517


The notes on pages 11 to 19 form part of these financial statements.

Page 9

 
ARTIZIAN CATERING SERVICES LIMITED
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2024




At 1 April 2023
Cash flows
At 31 March 2024
£

£

£

Cash at bank and in hand

456,986

372,630

829,616


456,986
372,630
829,616

The notes on pages 11 to 19 form part of these financial statements.
Page 10

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Artizian Catering Services Limited, registered number 03295512, is a private limited company incorporated and domiciled in England and Wales. The address of the registered office is 8th Floor, Reading Bridge House, George Street, Reading, RG1 8LS and its trading address is 5 Beech Court, Wokingham Road, Hurst, Berkshire, RG10 0RQ.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Artizian Group Limited as at 31 March 2023 and these financial statements may be obtained from the registered office.

 
2.3

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.
Page 11

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33% straight line basis
Computer equipment
-
25% - 50% straight line basis

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.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 12

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Taxation

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.

 
2.11

Financial instruments

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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results may ultimately differ from those estimates. The directors consider the following items to be areas subject to estimation and judgement.
Revenue recognition
The company recognises revenue at the time of delivery and when collection of the resulting receivable is reasonably assured. Payments received in advance of revenue recognition are recorded as deferred income in the event that revenue is received but management do not believe the delivery of goods and services has been performed.

Page 13

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Goods and services
11,309,754
9,388,560

11,309,754
9,388,560


All turnover arose within the United Kingdom.


5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Operating lease rentals
39,027
44,545

Depreciation of tangible fixed assets
(7,287)
3,222

Defined contribution pension costs
128,171
109,512


6.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
10,500
10,000

Fees payable to the Company's auditors in respect of:

Taxation compliance services
2,100
2,000

All other services
2,600
2,500

Page 14

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Employees

2024
2023
£
£

Wages and salaries
4,339,678
3,693,326

Social security costs
409,002
351,414

Cost of defined contribution scheme
128,172
109,512

4,876,852
4,154,252


The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Catering
163
138



Administration
2
2

165
140


8.


Director's remuneration

2024
2023
£
£

Director's emoluments
71,862
70,323

Company contributions to defined contribution pension schemes
5,030
14,424

76,892
84,747



9.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
20,714
9,061

Adjustments in respect of previous periods
(477)
-


Total current tax
20,237
9,061

Page 15

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
9.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
85,395
68,395


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
21,349
12,995

Effects of:


Fixed asset differences
-
(284)

Expenses not deductible for tax purposes
181
267

Group relief surrendered/(claimed)
(755)
(1,752)

Remeasurement of deferred tax for changes in tax rates
-
706

Marginal relief
(7)
-

Adjustments to tax charge in respect of previous periods
(477)
-

Movement in deferred tax not recognised
(54)
(2,871)

Total tax charge for the year
20,237
9,061


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 16

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
11,451
116,304
127,755


Additions
-
8,538
8,538



At 31 March 2024

11,451
124,842
136,293



Depreciation


At 1 April 2023
11,451
110,466
121,917


Charge for the year
-
7,287
7,287



At 31 March 2024

11,451
117,753
129,204



Net book value



At 31 March 2024
-
7,089
7,089



At 31 March 2023
-
5,838
5,838


11.


Debtors

2024
2023
£
£


Trade debtors
1,887,210
2,086,825

Amounts owed by group undertakings
5,410
1,602

Other debtors
50,358
25,664

Prepayments and accrued income
6,247
8,327

1,949,225
2,122,418



12.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
829,616
456,986

829,616
456,986


Page 17

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
850,937
947,870

Amounts owed to group undertakings
-
2,392

Corporation tax
20,714
9,061

Other taxation and social security
501,832
440,736

Other creditors
149,953
104,156

Accruals and deferred income
528,819
412,510

2,052,255
1,916,725



14.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



16,200 (2023 - 16,200) Ordinary shares of £1.00 each
16,200
16,200



15.


Reserves

Share premium account

Includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account

Includes all current and prior period retained profits and losses


16.


Pension commitments

The company operates a defined contribution pension scheme and the pension charge of £128,171 (2023: £109,512) represents the amount payable by the company to the fund in respect of the year. At the year end contributions amounting to £20,053 (2023: £15,799) were outstanding.

Page 18

 
ARTIZIAN CATERING SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

17.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
33,500
33,500

Later than 1 year and not later than 5 years
4,956
39,083

38,456
72,583


18.


Related party transactions

The company has taken advantage of the exemptions of disclosing transactions with related companies under the provision of Section 33 of Financial Reporting Standard 102.
Included in other debtors is £10,000 (2023: £10,000) due from J Marriott. As at 31 March 2024 there was £963 (2023: £488) owed to A Frith.
The remuneration of the key management personnel for the year was £85,554 (2023: £94,846).


19.


Controlling party

The immediate parent undertaking is Artizian Group Limited, a company incorporated in England and Wales.
The ultimate controlling party is A S Frith.

Page 19