Company registration number 04029373 (England and Wales)
D & J MOBILE CATERING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
D & J MOBILE CATERING LIMITED
COMPANY INFORMATION
Directors
D J Greaves
J M Greaves
Secretary
J M Greaves
Company number
04029373
Registered office
2 Merus Court
Meridian Business Park
Leicester
LE19 1RJ
Auditor
Mayfield & Co.
2 Merus Court
Meridian Business Park
Leicester
LE19 1RJ
D & J MOBILE CATERING LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Statement of cash flows
13
Notes to the financial statements
14 - 23
D & J MOBILE CATERING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -

The directors present the strategic report for the year ended 31 January 2024.

Review of the business

The company saw a decrease in turnover of £425,932 (£13,034,291 – 2023) down to £12,608,359 during 2024.

 

The main income streams for the company are ‘Catering sales’ and ‘Wholesale sales’. Catering sales consist of selling food and beverage items to the public from our mobile catering units during events such as music festivals and sporting events.

 

Wholesale sales consist of selling food and beverage items to other catering providers. We are licenced by Coca-Cola to distribute their products wholesale for outdoor catering events.

 

Site rents and Site services are also a turnover stream for the company which occur when D&J are the main catering contractor for an event and the site positions are sold to other catering companies to place their catering units on.

 

Event management income is the final major turnover stream, although this has reduced in recent years due to many larger event management clients taking much of this work in house. The decision for these event management companies to change their models in the respect has been driven by IT and money collection infrastructure developments.

 

In May 2023, D&J suffered a very unfortunate and devastating fire at the office premises at Gallops Farm. The fire struck at night when the office was closed and fortunately nobody was injured. The fire destroyed all of the building where the accounts, admin and concessions team operated from as well as the 60-pallet cold store and some stock located within the warehouse. This placed a large amount of stress and pressure on the company financially and emotionally, especially due to the company being a few weeks into peak operating season. The responses of the Directors, management team and key staff were incredible, and we were back up and running within a matter of days. Catering turnover during the period was only marginally affected because all events planned and contracted to were delivered. Wholesale sales were affected to a larger extent, but only small levels of wholesale stocks are held and therefore lost in the fire. Plans to rebuild the property in a similar layout as before have been progressing by the landlord, and build works are expected to start in November 2024 lasting around six months.

 

Wholesale sales were down by 44.5% from the previous year due to several factors. The wholesale market had become largely disturbed due to a very warm start to the summer months of May and June which meant that many soft drinks manufacturers stockpiled expecting the weather to last. This did not happen, with July, August and September being extremely wet and mild. The result of this was a large amount of heavily reduced stock circulating the market making it challenging for sales. The fire damaged wholesale stock and wholesale operating areas in the warehouse resulting in the company operating at a reduced rate and causing loss of sales with customers going elsewhere for their wholesale goods.

 

Catering sales were up 22.6% from the previous year. The company had been applying for more work with other concession management companies and events resulting in the increase in catering sales. The weather being milder than the previous year in the summer months helps with catering sales. The retail price of the products going over the counter had increased from the previous year helping the catering sales.

 

Site rents recharged for the company increased from £1,480,750 to £3,503,661 along with site services recharged from £166,069 in 2023 to £503,934 in 2024. The company has secured more work as concession managers of large-scale events where the operation requires recharges.

 

Cost of sales increased by £485,492 from £8,754,284 in 2023 to £9,239,776 in 2024. Cost of sales includes all wholesale purchases which are sold on as both pure wholesale sales and as catering sales. Also included are other catering purchases from non Coca-Cola suppliers as well as site rent and services costs and travelling costs. Gross profit was down by £911,424 to £3,368,583 (26.72% margin compared with 32.84% in 2023). Despite the impact the fire had on wholesale sales during the year, margins remain strong. Fluctuations in the gross margin is expected each year due to wholesale price rises and falls and on the catering side factors such as the weather have significant effect on sales.

 

Overall administrative expenses were up from £2,334,917 in 2023 year end to £3,052,708 in 2024 year end accounts.

 

D & J MOBILE CATERING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -

Wages and salaries within the company have increased from £1,318,563 in 2023 to £1,714,517 in 2024 (30% increase). Increased demand for admin in all areas of the business meant that more people were employed to help deal with this demand. Pay rises for individuals were made to keep in line with the rising cost of living. With the company operating on more events and increased catering sales, this naturally meant more people employed to operate the catering outlets leading to an overall increased wage and salary figure.

 

The company spent £35,326 more on advertising in the year end of 2024 accounts than the previous year. This was down to website re-design, pushing the website up in search bar priorities and in general advertising the company down different avenues.

 

The fire played a large part in the increased Computer and running cost expenditure rising from £17,852 to £49,882. All laptops, screens and servers had to be replaced along with IT systems so this would have been largely the reason for this.

 

The company's Bank balance remains healthy at £2,116,664 all be it down £1,026,497 from the previous year where the balance was at £3,143,161.

 

D&J continually invest in upgrading and replacing plant & machinery including catering units, IT hardware and motor vehicles to keep up to date with buying trends and technology advancements. During the year the company spent £279,812 on new assets and £144,740 on repairs which was financed using the cash reserves of the company.

 

 

Principal risks and uncertainties

 

Key performance indicators

Turnover, gross profit and operating profit are the most significant KPI’s relied on by the Directors which have been analysed above. Despite the difficult circumstances which have occurred during the year with the fire and general weather disruptions to trade, the KPI’s have remained strong.

 

D & J MOBILE CATERING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
Future Developments

 

 

On behalf of the board

D J Greaves
Director
11 October 2024
D & J MOBILE CATERING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -

The directors present their annual report and financial statements for the year ended 31 January 2024.

Principal activities

The principal activity of the company continued to be that of the wholesale of drinks and the provision of mobile catering at festivals and other events.

Results and dividends

The results for the year are set out on page 10.

Ordinary dividends were paid amounting to £360,000. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

D J Greaves
J M Greaves
Auditor

In accordance with the company's articles, a resolution proposing that Mayfield & Co. be reappointed as auditor of the company will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are 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 directors are required to:

 

 

The directors are 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

 

 

 

 

 

 

 

 

 

 

 

D & J MOBILE CATERING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
D J Greaves
Director
11 October 2024
D & J MOBILE CATERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF D & J MOBILE CATERING LIMITED
- 6 -
Opinion

We have audited the financial statements of D & J Mobile Catering Limited (the 'company') for the year ended 31 January 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The 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:

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 Auditor's 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 UK, including the FRC’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.

Material uncertainty relating to going concern

In auditing the financial statements, we have concluded that the directors' 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 directors 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 auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our 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.

Opinions on other matters prescribed by the Companies Act 2006

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

D & J MOBILE CATERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF D & J MOBILE CATERING LIMITED (CONTINUED)
- 7 -
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 strategic report or the directors' 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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

D & J MOBILE CATERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF D & J MOBILE CATERING LIMITED (CONTINUED)
- 8 -
Extent to which the audit was considered capable of detecting irregularities, including fraud

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

 

 

 

 

 

 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters which we are required to address

The comparative figures within these financial statements have not been audited.

 

 

 

 

 

 

 

 

 

 

 

 

D & J MOBILE CATERING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF D & J MOBILE CATERING LIMITED (CONTINUED)
- 9 -

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 2006. Our 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 auditor's 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.

Thomas Mayfield BA FCA
Senior Statutory Auditor
For and on behalf of Mayfield & Co.
Chartered Accountants
Statutory Auditor
2 Merus Court
Meridian Business Park
Leicester
LE19 1RJ
11 October 2024
D & J MOBILE CATERING LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024
- 10 -
2024
2023
Notes
£
£
Turnover
3
12,608,359
13,034,291
Cost of sales
(9,239,776)
(8,754,284)
Gross profit
3,368,583
4,280,007
Administrative expenses
(3,052,708)
(2,334,917)
Operating profit
4
315,875
1,945,090
Interest receivable and similar income
7
171
-
0
Profit before taxation
316,046
1,945,090
Tax on profit
8
(77,690)
(366,685)
Profit for the financial year
238,356
1,578,405

The profit and loss account has been prepared on the basis that all operations are continuing operations.

D & J MOBILE CATERING LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
686,449
627,038
Current assets
Stocks
11
33,040
11,291
Debtors
12
1,006,307
229,282
Cash at bank and in hand
2,116,664
3,143,161
3,156,011
3,383,734
Creditors: amounts falling due within one year
13
(754,350)
(824,646)
Net current assets
2,401,661
2,559,088
Total assets less current liabilities
3,088,110
3,186,126
Provisions for liabilities
Deferred tax liability
14
33,873
10,245
(33,873)
(10,245)
Net assets
3,054,237
3,175,881
Capital and reserves
Called up share capital
16
1,000
1,000
Profit and loss reserves
17
3,053,237
3,174,881
Total equity
3,054,237
3,175,881

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 11 October 2024 and are signed on its behalf by:
D J Greaves
Director
Company registration number 04029373 (England and Wales)
D & J MOBILE CATERING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 February 2022
1,000
1,896,476
1,897,476
Year ended 31 January 2023:
Profit and total comprehensive income
-
1,578,405
1,578,405
Dividends
9
-
(300,000)
(300,000)
Balance at 31 January 2023
1,000
3,174,881
3,175,881
Year ended 31 January 2024:
Profit and total comprehensive income
-
238,356
238,356
Dividends
9
-
(360,000)
(360,000)
Balance at 31 January 2024
1,000
3,053,237
3,054,237
D & J MOBILE CATERING LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2024
- 13 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
21
169,709
2,355,995
Income taxes paid
(584,440)
(198,147)
Net cash (outflow)/inflow from operating activities
(414,731)
2,157,848
Investing activities
Purchase of tangible fixed assets
(279,812)
(492,352)
Proceeds from disposal of tangible fixed assets
27,875
105,284
Interest received
171
-
0
Net cash used in investing activities
(251,766)
(387,068)
Financing activities
Dividends paid
(360,000)
(300,000)
Net cash used in financing activities
(360,000)
(300,000)
Net (decrease)/increase in cash and cash equivalents
(1,026,497)
1,470,780
Cash and cash equivalents at beginning of year
3,143,161
1,672,381
Cash and cash equivalents at end of year
2,116,664
3,143,161
D & J MOBILE CATERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 14 -
1
Accounting policies
Company information

D & J Mobile Catering Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Merus Court, Meridian Business Park, Leicester, LE19 1RJ. The company's place of business is Gallops Farm, Arnesby, Leicester, LE8 5WB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
25% on cost
Equipment
25% on net book value
Motor vehicles
25% on net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

D & J MOBILE CATERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 15 -
1.5
Impairment of fixed assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each reporting date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

D & J MOBILE CATERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 16 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.10
Retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

D & J MOBILE CATERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 17 -
3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Catering sales
4,205,366
3,429,612
Wholesale sales
4,138,998
7,460,267
Site rent recharged
3,503,661
1,480,750
Site services recharged
503,934
166,069
Event management fees received
99,714
342,343
Other sales
836
50,000
Accreditation fees recharged
108,350
60,250
Suppliers contributions to costs
47,500
45,000
12,608,359
13,034,291
2024
2023
£
£
Turnover analysed by geographical market
UK
12,608,359
13,034,291
2024
2023
£
£
Other revenue
Interest income
171
-

In previous years, turnover recorded in the accounts has consisted of Catering sales and Wholesale sales. All other income types were shown as other operating income. This has been amended in 2024 to shown all income types within turnover, and the comparatives have been amended to reflect this.

4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
13,000
-
0
Depreciation of owned tangible fixed assets
196,974
145,633
Profit on disposal of tangible fixed assets
(4,448)
(13,924)
Operating lease charges
50,440
42,277
D & J MOBILE CATERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 18 -
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Administrative staff
25
22
Production staff
31
34
Total
56
56

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
1,738,517
1,342,563
Social security costs
137,358
110,376
Pension costs
23,962
20,697
1,899,837
1,473,636
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
24,000
24,000
Company pension contributions to defined contribution schemes
173
187
24,173
24,187
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Other interest income
171
-
0
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
54,062
356,440
D & J MOBILE CATERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
8
Taxation
2024
2023
£
£
(Continued)
- 19 -
Deferred tax
Origination and reversal of timing differences
23,628
10,245
Total tax charge
77,690
366,685

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
316,046
1,945,090
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
79,012
369,567
Tax effect of expenses that are not deductible in determining taxable profit
1,722
507
Effect of change in corporation tax rate
(2,194)
-
0
Permanent capital allowances in excess of depreciation
(24,187)
(13,634)
Tax at marginal rate
(291)
-
0
Deferred tax
23,628
10,245
Taxation charge for the year
77,690
366,685
9
Dividends
2024
2023
£
£
Interim paid
360,000
300,000
D & J MOBILE CATERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 20 -
10
Tangible fixed assets
Leasehold improvements
Equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2023
51,630
956,140
648,317
1,656,087
Additions
14,000
224,307
41,505
279,812
Disposals
-
0
(85,711)
(97,592)
(183,303)
At 31 January 2024
65,630
1,094,736
592,230
1,752,596
Depreciation and impairment
At 1 February 2023
51,630
749,713
227,706
1,029,049
Depreciation charged in the year
2,333
83,879
110,762
196,974
Eliminated in respect of disposals
-
0
(68,765)
(91,111)
(159,876)
At 31 January 2024
53,963
764,827
247,357
1,066,147
Carrying amount
At 31 January 2024
11,667
329,909
344,873
686,449
At 31 January 2023
-
0
206,427
420,611
627,038
11
Stocks
2024
2023
£
£
Finished goods and goods for resale
33,040
11,291
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
104,924
219,906
Corporation tax recoverable
173,938
-
0
Other debtors
720,976
3,240
Prepayments and accrued income
6,469
6,136
1,006,307
229,282
D & J MOBILE CATERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 21 -
13
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
673,448
298,252
Corporation tax
-
0
356,440
Other taxation and social security
38,969
137,475
Other creditors
21,933
24,479
Accruals and deferred income
20,000
8,000
754,350
824,646
14
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
33,873
10,245
2024
Movements in the year:
£
Liability at 1 February 2023
10,245
Charge to profit or loss
23,628
Liability at 31 January 2024
33,873
15
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
23,962
20,697

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

16
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
D & J MOBILE CATERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 22 -
17
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
3,174,881
1,896,476
Profit for the year
238,356
1,578,405
Dividends declared and paid in the year
(360,000)
(300,000)
At the end of the year
3,053,237
3,174,881
18
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
22,135
36,542
19
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2024
2023
2024
2023
£
£
£
£
Other related parties
64,375
107,784
35,000
35,000
Loans advanced
2024
2023
£
£
Key management personnel
150,000
-

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Key management personnel
150,000
-
Other related parties
8,014
3,993
D & J MOBILE CATERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 23 -
20
Directors' transactions

At the year end, there was an overdrawn loan account for one of the directors amounting to £350,343. This was repaid in full after the year end.

21
Cash generated from operations
2024
2023
£
£
Profit for the year after tax
238,356
1,578,405
Adjustments for:
Taxation charged
77,690
366,685
Investment income
(171)
-
0
Gain on disposal of tangible fixed assets
(4,448)
(13,924)
Depreciation and impairment of tangible fixed assets
196,974
145,633
Movements in working capital:
(Increase)/decrease in stocks
(21,749)
23,662
(Increase)/decrease in debtors
(603,087)
150,655
Increase in creditors
286,144
104,879
Cash generated from operations
169,709
2,355,995
22
Analysis of changes in net funds
1 February 2023
Cash flows
31 January 2024
£
£
£
Cash at bank and in hand
3,143,161
(1,026,497)
2,116,664
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