Registered number
13422654
K & G Catering Limited
Unaudited Filleted Accounts
31 March 2024
K & G Catering Limited
Registered number: 13422654
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 24,770 35,860
Current assets
Stocks 2,000 2,800
Cash at bank and in hand 39,301 48,161
41,301 50,961
Creditors: amounts falling due within one year 4 (32,890) (66,924)
Net current assets/(liabilities) 8,411 (15,963)
Total assets less current liabilities 33,181 19,897
Provisions for liabilities (5,000) (7,000)
Net assets 28,181 12,897
Capital and reserves
Called up share capital 100 100
Profit and loss account 28,081 12,797
Shareholders' funds 28,181 12,897
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Ellinas
Director
Approved by the board on 20 August 2024
K & G Catering Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% on a straight line basis.
Fixtures, fittings and equipment 20% on a straight line basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 59,708
Additions 1,080
At 31 March 2024 60,788
Depreciation
At 1 April 2023 23,848
Charge for the year 12,170
At 31 March 2024 36,018
Net book value
At 31 March 2024 24,770
At 31 March 2023 35,860
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,790 2,362
Taxation and social security costs 17,457 16,115
Other creditors 11,643 48,447
32,890 66,924
5 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 3,667 3,667
6 Other information
K & G Catering Limited is a private company limited by shares and incorporated in England. Its registered office is:
6a Little Aston Lane
Little Aston
Sutton Coldfield
B74 3UF
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