1 January 2023 v2024.40.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP085094142023-01-012023-12-31085094142023-12-31085094142022-12-3108509414core:WithinOneYear2023-12-3108509414core:WithinOneYear2022-12-3108509414core:AfterOneYear2023-12-3108509414core:AfterOneYear2022-12-3108509414core:ShareCapital2023-12-3108509414core:ShareCapital2022-12-3108509414core:RetainedEarningsAccumulatedLosses2023-12-3108509414core:RetainedEarningsAccumulatedLosses2022-12-3108509414bus:Director12023-01-012023-12-3108509414bus:RegisteredOffice2023-01-012023-12-3108509414core:FurnitureFittingsToolsEquipment2023-01-012023-12-31085094142022-01-012022-12-3108509414core:PlantMachinery2023-12-3108509414core:PlantMachinery2023-01-0108509414core:PlantMachinery2023-01-012023-12-3108509414core:PlantMachinery2022-12-3108509414countries:EnglandWales2023-01-012023-12-3108509414bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3108509414bus:PrivateLimitedCompanyLtd2023-01-012023-12-3108509414bus:SmallEntities2023-01-012023-12-3108509414bus:FullAccounts2023-01-012023-12-31
Company registration number:
08509414
Harry's Catering Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2023
Harry's Catering Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Harry's Catering Limited
Year ended
31 December 2023
As described on the statement of financial position, the Board of Directors of
Harry's Catering Limited
are responsible for the preparation of the
financial statements
for the year ended
31 December 2023
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Harry's Catering Limited
Statement of Financial Position
31 December 2023
20232022
Note££
Fixed assets    
Tangible assets 5
1,127
 
1,503
 
Current assets    
Stocks
102,346
 
53,683
 
Debtors 6
225,036
 
5,140
 
Cash at bank and in hand
541,763
 
624,185
 
869,145
 
683,008
 
Creditors: amounts falling due within one year 7
(707,024
)
(543,442
)
Net current assets
162,121
 
139,566
 
Total assets less current liabilities 163,248   141,069  
Creditors: amounts falling due after more than one year 8
(42,500
)
(72,500
)
Net assets
120,748
 
68,569
 
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
119,748
 
67,569
 
Shareholders funds
120,748
 
68,569
 
For the year ending
31 December 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.
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
30 August 2024
, and are signed on behalf of the board by:
J Graziani
Director
Company registration number:
08509414
Harry's Catering Limited
Notes to the Financial Statements
Year ended
31 December 2023

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
77 Grey Street
,
Newcastle Upon Tyne
,
NE1 6EF
, England.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.
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:
Fixtures, fittings and equipment
25% of written down value

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. 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.

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 and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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
73
(2022:
80.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2023
and
31 December 2023
15,014
 
Depreciation  
At
1 January 2023
13,511
 
Charge
376
 
At
31 December 2023
13,887
 
Carrying amount  
At
31 December 2023
1,127
 
At 31 December 2022
1,503
 

6 Debtors

20232022
££
Trade debtors
5,036
 
5,140
 
Other debtors
220,000
  -  
225,036
 
5,140
 

7 Creditors: amounts falling due within one year

20232022
££
Trade creditors
347,156
 
303,581
 
Taxation and social security
153,915
 
135,219
 
Other creditors
205,953
 
104,642
 
707,024
 
543,442
 

8 Creditors: amounts falling due after more than one year

20232022
££
Other creditors
42,500
 
72,500
 
A fixed and floating charge was registered on 23 June 2020 in favour of Lloyds Bank PLC

9 Guarantees and other financial commitments

The rent agreement dated 19 December 2014 and amended 29 December 2016 has a 6 month rolling renewal for either party to give notice and the amount due in less than 12 months is £880,000. At the balance sheet date and at the date of signing no notice has been given nor has one been received.

10 Controlling party

The controlling party is the director of the company Mrs Judith Graziani.