Whalley Catering Equipment Limited 09392819 false 2023-03-30 2024-03-29 2024-03-29 The principal activity of the company is the provision of catering equipment. Digita Accounts Production Advanced 6.30.9574.0 true true 09392819 2023-03-30 2024-03-29 09392819 2024-03-29 09392819 bus:Director4 1 2024-03-29 09392819 core:RetainedEarningsAccumulatedLosses 2024-03-29 09392819 core:ShareCapital 2024-03-29 09392819 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-29 09392819 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-29 09392819 core:CurrentFinancialInstruments 2024-03-29 09392819 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-29 09392819 core:Non-currentFinancialInstruments 2024-03-29 09392819 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-29 09392819 core:Goodwill 2024-03-29 09392819 core:FurnitureFittingsToolsEquipment 2024-03-29 09392819 bus:SmallEntities 2023-03-30 2024-03-29 09392819 bus:AuditExemptWithAccountantsReport 2023-03-30 2024-03-29 09392819 bus:FilletedAccounts 2023-03-30 2024-03-29 09392819 bus:SmallCompaniesRegimeForAccounts 2023-03-30 2024-03-29 09392819 bus:RegisteredOffice 2023-03-30 2024-03-29 09392819 bus:Director1 2023-03-30 2024-03-29 09392819 bus:Director2 2023-03-30 2024-03-29 09392819 bus:Director3 2023-03-30 2024-03-29 09392819 bus:Director4 2023-03-30 2024-03-29 09392819 bus:Director4 1 2023-03-30 2024-03-29 09392819 bus:PrivateLimitedCompanyLtd 2023-03-30 2024-03-29 09392819 bus:Agent1 2023-03-30 2024-03-29 09392819 core:Goodwill 2023-03-30 2024-03-29 09392819 core:FurnitureFittingsToolsEquipment 2023-03-30 2024-03-29 09392819 core:PlantMachinery 2023-03-30 2024-03-29 09392819 core:OtherRelatedParties 2023-03-30 2024-03-29 09392819 countries:EnglandWales 2023-03-30 2024-03-29 09392819 2023-03-29 09392819 bus:Director4 1 2023-03-29 09392819 core:Goodwill 2023-03-29 09392819 core:FurnitureFittingsToolsEquipment 2023-03-29 09392819 2022-03-30 2023-03-29 09392819 2023-03-29 09392819 bus:Director4 1 2023-03-29 09392819 core:RetainedEarningsAccumulatedLosses 2023-03-29 09392819 core:ShareCapital 2023-03-29 09392819 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-29 09392819 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-29 09392819 core:CurrentFinancialInstruments 2023-03-29 09392819 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-29 09392819 core:Non-currentFinancialInstruments 2023-03-29 09392819 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-29 09392819 core:FurnitureFittingsToolsEquipment 2023-03-29 09392819 bus:Director4 1 2022-03-30 2023-03-29 09392819 bus:Director4 1 2022-03-29 iso4217:GBP xbrli:pure

Registration number: 09392819

Whalley Catering Equipment Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 March 2024

 

Whalley Catering Equipment Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Whalley Catering Equipment Limited

Company Information

Directors

Mr D Seal

Mr J D Seal

Miss C L Seal

Mr D D Campbell

Registered office

1 Bond Street
Colne
Lancashire
BB8 9DG

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Whalley Catering Equipment Limited
for the Year Ended 29 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Whalley Catering Equipment Limited for the year ended 29 March 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Whalley Catering Equipment Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Whalley Catering Equipment Limited and state those matters that we have agreed to state to the Board of Directors of Whalley Catering Equipment Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Whalley Catering Equipment Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Whalley Catering Equipment Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Whalley Catering Equipment Limited. You consider that Whalley Catering Equipment Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Whalley Catering Equipment Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

20 December 2024

 

Whalley Catering Equipment Limited

(Registration number: 09392819)
Balance Sheet as at 29 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

44,298

38,464

Current assets

 

Stocks

6

2,435

8,383

Debtors

7

191,624

136,574

Cash at bank and in hand

 

48,092

44,294

 

242,151

189,251

Creditors: Amounts falling due within one year

8

(239,107)

(151,886)

Net current assets

 

3,044

37,365

Total assets less current liabilities

 

47,342

75,829

Creditors: Amounts falling due after more than one year

8

(29,395)

(45,981)

Provisions for liabilities

(8,417)

(5,582)

Net assets

 

9,530

24,266

Capital and reserves

 

Called up share capital

100

100

Retained earnings

9,430

24,166

Shareholders' funds

 

9,530

24,266

For the financial year ending 29 March 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.

 

Whalley Catering Equipment Limited

(Registration number: 09392819)
Balance Sheet as at 29 March 2024

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 December 2024 and signed on its behalf by:
 

.........................................
Mr D Seal
Director

 

Whalley Catering Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 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:
1 Bond Street
Colne
Lancashire
BB8 9DG

The principal place of business is:
Unit 5
Wellington Street
Clayton-le-Moors
Accrington
Lancashire
BB5 5HU

These financial statements were authorised for issue by the Board on 20 December 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.

Going concern

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

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.

 

Whalley Catering Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 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

Plant and machinery

15% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 5 years

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.

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.

 

Whalley Catering Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Whalley Catering Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 6 (2023 - 6).

 

Whalley Catering Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 30 March 2023

9,600

9,600

At 29 March 2024

9,600

9,600

Amortisation

At 30 March 2023

9,600

9,600

At 29 March 2024

9,600

9,600

Carrying amount

At 29 March 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 30 March 2023

46,132

46,132

Additions

13,479

13,479

At 29 March 2024

59,611

59,611

Depreciation

At 30 March 2023

7,668

7,668

Charge for the year

7,645

7,645

At 29 March 2024

15,313

15,313

Carrying amount

At 29 March 2024

44,298

44,298

At 29 March 2023

38,464

38,464

 

Whalley Catering Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

6

Stocks

2024
£

2023
£

Other inventories

2,435

8,383

7

Debtors

2024
£

2023
£

Trade debtors

112,548

44,960

Prepayments

3,935

7,913

Other debtors

75,141

83,701

191,624

136,574

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

16,079

16,079

Trade creditors

 

198,823

122,074

Taxation and social security

 

11,597

2,786

Accruals and deferred income

 

3,436

1,200

Other creditors

 

9,172

9,747

 

239,107

151,886

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

29,395

45,981

 

Whalley Catering Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,588

21,667

Hire purchase contracts

23,807

24,314

29,395

45,981

Current loans and borrowings

2024
£

2023
£

Bank borrowings

16,079

10,000

Hire purchase contracts

-

6,079

16,079

16,079

The Hire Purchase contracts are secured on the assets concerned.

10

Related party transactions

Transactions with directors

2024

At 30 March 2023
£

Advances to director
£

Repayments by director
£

At 29 March 2024
£

Mr D D Campbell

Repayable on demand; interest charged at the official rate

76,377

34,532

(40,000)

70,909

2023

At 30 March 2022
£

Advances to director
£

Repayments by director
£

At 29 March 2023
£

Mr D D Campbell

Repayable on demand; interest charged at the official rate

-

112,627

(36,250)

76,377

 

Whalley Catering Equipment Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 March 2024

Summary of transactions with other related parties

R. Briggs Sheetmetal Fabrications Limited
 
Mr D. Seal is a director and shareholder of R. Briggs Sheetmetal Fabrications Limited and Whalley Catering Equipment Limited.

The amount owed to R. Briggs Sheetmetal Fabrications Limited by Whalley Catering Equipment Limited at the balance sheet date amounted to £9,172 (2023 - £9,172).