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Registration number: SC729370

Four Corners Global Film Catering Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Four Corners Global Film Catering Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Four Corners Global Film Catering Ltd

Company Information

Directors

Mr Chris Naylor

Mrs Kelly Naylor

Registered office

159 King Street
Rutherglen
Glasgow
G73 1BZ

Accountants

Clyde Business Services Ltd
159 King Street
Glasgow
Lanarkshire
G73 1BZ

 

Four Corners Global Film Catering Ltd

(Registration number: SC729370)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

87,380

70,186

Current assets

 

Stocks

5

15,000

-

Cash at bank and in hand

 

111,517

43,193

 

126,517

43,193

Creditors: Amounts falling due within one year

6

(83,473)

(23,555)

Net current assets

 

43,044

19,638

Net assets

 

130,424

89,824

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

130,422

89,822

Shareholders' funds

 

130,424

89,824

For the financial year ending 30 April 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 August 2024 and signed on its behalf by:
 

 

Four Corners Global Film Catering Ltd

(Registration number: SC729370)
Balance Sheet as at 30 April 2024

.........................................
Mr Chris Naylor
Director

.........................................
Mrs Kelly Naylor
Director

 

Four Corners Global Film Catering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
159 King Street
Rutherglen
Glasgow
G73 1BZ

These financial statements were authorised for issue by the Board on 12 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Four Corners Global Film Catering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

vehicles, plant & machinery

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Four Corners Global Film Catering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

 

Four Corners Global Film Catering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

68,000

19,733

87,733

Additions

-

39,039

39,039

At 30 April 2024

68,000

58,772

126,772

Depreciation

At 1 May 2023

13,600

3,947

17,547

Charge for the year

10,880

10,965

21,845

At 30 April 2024

24,480

14,912

39,392

Carrying amount

At 30 April 2024

43,520

43,860

87,380

At 30 April 2023

54,400

15,786

70,186

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

15,000

-

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

82,896

23,351

Other creditors

577

204

83,473

23,555

7

Share capital

Allotted, called up and fully paid shares

 

Four Corners Global Film Catering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £25,000.00 (2023 - £25,000.00) per ordinary share

 

50,000

 

50,000

         

9

Related party transactions

 

Four Corners Global Film Catering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

35,283

12,570