El Vato Loco Ltd 13939747 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Event Catering Digita Accounts Production Advanced 6.30.9574.0 true true 13939747 2023-03-01 2024-02-29 13939747 2024-02-29 13939747 core:CurrentFinancialInstruments 2024-02-29 13939747 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 13939747 core:PlantMachinery 2024-02-29 13939747 bus:SmallEntities 2023-03-01 2024-02-29 13939747 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13939747 bus:FilletedAccounts 2023-03-01 2024-02-29 13939747 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13939747 bus:RegisteredOffice 2023-03-01 2024-02-29 13939747 bus:Director1 2023-03-01 2024-02-29 13939747 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13939747 core:PlantMachinery 2023-03-01 2024-02-29 13939747 countries:EnglandWales 2023-03-01 2024-02-29 13939747 2023-02-28 13939747 core:PlantMachinery 2023-02-28 13939747 2022-02-25 2023-02-28 13939747 2023-02-28 13939747 core:CurrentFinancialInstruments 2023-02-28 13939747 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13939747 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 13939747

El Vato Loco Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 29 February 2024

 

El Vato Loco Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

El Vato Loco Ltd

Company Information

Director

Miss Kimberley Sysum

Registered office

Onyx House
12 Phoenix Business Park
Avenue Close
Birmingham
West Midlands
B7 4NU

Accountants

Onyx Accountants Limited
Chartered Management Accountants
Onyx House
12 Phoenix Business Park
Avenue Close
Birmingham
West Midlands
B7 4NU

 

El Vato Loco Ltd

(Registration number: 13939747)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

676

6,162

Current assets

 

Debtors

5

28,360

27,186

Cash at bank and in hand

 

9

-

 

28,369

27,186

Prepayments and accrued income

 

1,500

-

Creditors: Amounts falling due within one year

(4,532)

(11,165)

Net current assets

 

25,337

16,021

Total assets less current liabilities

 

26,013

22,183

Provisions for liabilities

(128)

(1,171)

Accruals and deferred income

 

(6,500)

(1,020)

Net assets

 

19,385

19,992

Capital and reserves

 

Called up share capital

100

100

Retained earnings

19,285

19,892

Shareholders' funds

 

19,385

19,992

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

El Vato Loco Ltd

(Registration number: 13939747)
Abridged Balance Sheet as at 29 February 2024

Approved and authorised by the director on 19 November 2024
 

.........................................
Miss Kimberley Sysum
Director

 

El Vato Loco Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Onyx House
12 Phoenix Business Park
Avenue Close
Birmingham
West Midlands
B7 4NU
England

These financial statements were authorised for issue by the director on 19 November 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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 and deferred 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.

 

El Vato Loco Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

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

Plant and Machinery

15% 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

El Vato Loco Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

7,250

7,250

Additions

795

795

Disposals

(7,250)

(7,250)

At 29 February 2024

795

795

Depreciation

At 1 March 2023

1,088

1,088

Charge for the year

119

119

Eliminated on disposal

(1,088)

(1,088)

At 29 February 2024

119

119

Carrying amount

At 29 February 2024

676

676

At 28 February 2023

6,162

6,162

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.