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Registered number: 09090132
Cater London Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Cornfield Accountants Limited
Chartered Accountants
5 Cornfield Terrace
Eastbourne
East Sussex
BN21 4NN
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09090132
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 78,173 78,267
78,173 78,267
CURRENT ASSETS
Debtors 5 225,583 89,300
Cash at bank and in hand 548,156 484,839
773,739 574,139
Creditors: Amounts Falling Due Within One Year 6 (814,852 ) (624,804 )
NET CURRENT ASSETS (LIABILITIES) (41,113 ) (50,665 )
TOTAL ASSETS LESS CURRENT LIABILITIES 37,060 27,602
Creditors: Amounts Falling Due After More Than One Year 7 (17,507 ) (27,598 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,543 ) -
NET ASSETS 10 4
CAPITAL AND RESERVES
Called up share capital 11 3
Profit and Loss Account (1 ) 1
SHAREHOLDERS' FUNDS 10 4
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 26 November 2024 and were signed on its behalf by:
G J Tuvey
Director
26/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Cater London Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09090132 . The registered office is 5 Cornfield Terrace, Eastbourne, East Sussex, BN21 4NN.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases, assets held under finance leases are depreciated in the same way as owned assets:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings various rates
Computer Equipment 33.33% on straight line
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2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 33 (2023: 26)
33 26
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 73,395 70,532 5,067 11,441 160,435
Additions 24,723 - 549 4,831 30,103
Disposals (1,895 ) - - - (1,895 )
As at 31 March 2024 96,223 70,532 5,616 16,272 188,643
Depreciation
As at 1 April 2023 37,203 35,323 2,078 7,564 82,168
Provided during the period 15,228 8,803 710 4,657 29,398
Disposals (1,096 ) - - - (1,096 )
As at 31 March 2024 51,335 44,126 2,788 12,221 110,470
Net Book Value
As at 31 March 2024 44,888 26,406 2,828 4,051 78,173
As at 1 April 2023 36,192 35,209 2,989 3,877 78,267
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 144,475 66,837
Other debtors 80,377 21,940
Prepayments 513 523
Other taxes and social security 218 -
225,583 89,300
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 65,651 29,570
Bank loans and overdrafts 10,091 9,793
Corporation tax 97,709 59,993
Other taxes and social security - 6,663
VAT 74,607 30,916
Other creditors 69,470 62,318
Accruals and deferred income 480,329 335,332
Directors' loan accounts 16,995 90,219
814,852 624,804
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 17,507 27,598
17,507 27,598
8. Capital Commitments
2024 2023
£ £
At the end of the period 24,300 30,420
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements relating to a lease on premises.
9. Pension Commitments
The company operates a defined contribution pension scheme for Nest. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,541 (2023 - £1,312) were due to the fund. They are included in Other Creditors.
10. Related Party Transactions
At the year end there were amounts owing to a director totalling £16,995 (2023 - £90,219). This amount is interest free and repayable on demand.
At the year end there were amounts owing to a director totalling £52,887 (2023 - £60,715). This amount is interest free and repayable on demand.
At the year end there were amounts owing to a director totalling £14,649 (2023 - £nil). This amount is interest free and repayable on demand.
During the year a company under common control issued management charges totalling £9,600 (2023 - £10,400). At the year end there was an amount owing from the company totalling £29,030 (2022 - £15,923). This amount is interest free and repayable on demand.
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