Company registration number NI624876 (Northern Ireland)
PRESTIGE CATERING (GLENGORMLEY) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
PRESTIGE CATERING (GLENGORMLEY) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
PRESTIGE CATERING (GLENGORMLEY) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Gina McCourt
Kevin McCourt
Company number
NI624876
Registered office
5 Sandyholme Way
Newtownabbey
Co. Antrim
BT36 5BH
Accountants
Johnston Kennedy DFK
10 Pilots View
Heron Road
Belfast
BT3 9LE
Business address
5 Sandyholme Way
Newtownabbey
Co. Antrim
BT36 5BH
Bankers
Ulster Bank
202-206 York Street
Belfast
BT15 1HY
PRESTIGE CATERING (GLENGORMLEY) LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
431,914
518,955
Current assets
Stocks
6
24,815
28,637
Debtors
7
31,885
4,419
Cash at bank and in hand
112,094
342,029
168,794
375,085
Creditors: amounts falling due within one year
8
(173,009)
(372,323)
Net current (liabilities)/assets
(4,215)
2,762
Total assets less current liabilities
427,699
521,717
Creditors: amounts falling due after more than one year
9
(68,154)
(30,086)
Provisions for liabilities
10
(44,000)
(90,419)
Net assets
315,545
401,212
Capital and reserves
Called up share capital
11
100
100
Profit and loss reserves
315,445
401,112
Total equity
315,545
401,212
The notes on pages 4 to 9 form part of these financial statements
PRESTIGE CATERING (GLENGORMLEY) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 3 -
Directors' statement in respect of the financial statements

For the financial year ended 31 May 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 of its financial statements for the year in question in accordance with section 476 of the Companies 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 financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the Financial Reporting Standard 102 1A-Small Entities.

The financial statements were approved by the board of directors and authorised for issue on 29 October 2024 and are signed on its behalf by:
Kevin McCourt
Gina McCourt
..............................
..............................
Kevin McCourt
Gina McCourt
Director
Director
Company Registration No. NI624876
The notes on pages 4 to 9 form part of these financial statements
PRESTIGE CATERING (GLENGORMLEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
1
Accounting policies
Company information

Prestige Catering (Glengormley) Limited is a private company limited by shares incorporated in Northern Ireland. The registered office and business address is 5 Sandyholme Way, Newtownabbey, Co. Antrim, BT36 5BH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

 

The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Alcohol license
20% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Long leasehold property
10% reducing balance
Fixtures, fittings and equipment
20% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and net realisable value.

PRESTIGE CATERING (GLENGORMLEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

PRESTIGE CATERING (GLENGORMLEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
49
55
3
Dividends
2024
2023
£
£
Interim paid 31 March 2024
6,000
30,000
PRESTIGE CATERING (GLENGORMLEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
4
Intangible fixed assets
Alcohol license
£
Cost
At 1 June 2023 and 31 May 2024
50,000
Amortisation and impairment
At 1 June 2023 and 31 May 2024
50,000
Carrying amount
At 31 May 2024
-
0
At 31 May 2023
-
0
5
Tangible fixed assets
Long leasehold property
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2023
192,836
423,136
150,565
766,537
Additions
16,853
25,958
-
0
42,811
Disposals
-
0
-
0
(83,979)
(83,979)
At 31 May 2024
209,689
449,094
66,586
725,369
Depreciation and impairment
At 1 June 2023
35,558
149,928
62,096
247,582
Depreciation charged in the year
16,431
55,875
18,181
90,487
Eliminated in respect of disposals
-
0
-
0
(44,614)
(44,614)
At 31 May 2024
51,989
205,803
35,663
293,455
Carrying amount
At 31 May 2024
157,700
243,291
30,923
431,914
At 31 May 2023
157,278
273,208
88,469
518,955
6
Stocks
2024
2023
£
£
Stocks
24,815
28,637
PRESTIGE CATERING (GLENGORMLEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 8 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,885
2,529
Corporation tax recoverable
-
0
1,890
Other debtors
30,000
-
0
31,885
4,419
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,491
9,994
Obligations under finance leases
-
0
10,979
Other borrowings
16,667
-
0
Trade creditors
55,547
127,596
Other taxation and social security
71,074
68,041
Other creditors
2,314
2,713
Accruals and deferred income
17,916
153,000
173,009
372,323
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,765
20,753
Other creditors
56,389
9,333
68,154
30,086
10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
44,000
90,419
PRESTIGE CATERING (GLENGORMLEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
10
Deferred taxation
(Continued)
- 9 -
2024
Movements in the year:
£
Liability at 1 June 2023
90,419
Credit to profit or loss
(46,419)
Liability at 31 May 2024
44,000
11
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
100 ordinary shares of £1 each
100
100
12
Operating lease commitments
Lessee

At 31 May 2024 the company was committed to making the following payments under non-cancellable operating leases in the year to 31 May 2024:

2024
2023
£
£
Within one year
60,000
60,000
13
Capital commitments

The company had no capital commitments at the year end 31 May 2024 and 31 May 2023.

14
Related party transactions

The balance on the directors' loan account amounted to £2,314 (2023: £2,713) and is included in creditors due within one year. No interest is charged on this loan.

 

2024-05-312023-06-01false29 October 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityGina McCourtKevin McCourtfalsefalseNI6248762023-06-012024-05-31NI624876bus:Director12023-06-012024-05-31NI624876bus:Director22023-06-012024-05-31NI624876bus:RegisteredOffice2023-06-012024-05-31NI624876bus:Agent12023-06-012024-05-31NI6248762024-05-31NI6248762023-05-31NI624876core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-05-31NI624876core:FurnitureFittings2024-05-31NI624876core:MotorVehicles2024-05-31NI624876core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-05-31NI624876core:FurnitureFittings2023-05-31NI624876core:MotorVehicles2023-05-31NI624876core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-31NI624876core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-31NI624876core:Non-currentFinancialInstrumentscore:AfterOneYear2024-05-31NI624876core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-31NI624876core:CurrentFinancialInstruments2024-05-31NI624876core:CurrentFinancialInstruments2023-05-31NI624876core:Non-currentFinancialInstruments2024-05-31NI624876core:Non-currentFinancialInstruments2023-05-31NI624876core:ShareCapital2024-05-31NI624876core:ShareCapital2023-05-31NI624876core:RetainedEarningsAccumulatedLosses2024-05-31NI624876core:RetainedEarningsAccumulatedLosses2023-05-31NI624876core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-31NI624876core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-06-012024-05-31NI624876core:LandBuildingscore:LongLeaseholdAssets2023-06-012024-05-31NI624876core:FurnitureFittings2023-06-012024-05-31NI624876core:MotorVehicles2023-06-012024-05-31NI6248762022-06-012023-05-31NI624876core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-05-31NI624876core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-05-31NI624876core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-05-31NI624876core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-05-31NI624876core:FurnitureFittings2023-05-31NI624876core:MotorVehicles2023-05-31NI6248762023-05-31NI624876core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-06-012024-05-31NI624876core:WithinOneYear2024-05-31NI624876core:WithinOneYear2023-05-31NI624876bus:PrivateLimitedCompanyLtd2023-06-012024-05-31NI624876bus:SmallCompaniesRegimeForAccounts2023-06-012024-05-31NI624876bus:FRS1022023-06-012024-05-31NI624876bus:AuditExemptWithAccountantsReport2023-06-012024-05-31NI624876bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP