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REGISTERED NUMBER: 04685619 (England and Wales)


















NAPIER CATERING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






NAPIER CATERING LIMITED (REGISTERED NUMBER: 04685619)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NAPIER CATERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P J Cooke
C G Cooke





SECRETARY: C G Cooke





REGISTERED OFFICE: Unit 1
The Turnery
Chepstow Road
Usk
NP15 1HN





REGISTERED NUMBER: 04685619 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

NAPIER CATERING LIMITED (REGISTERED NUMBER: 04685619)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,013,928 983,673

CURRENT ASSETS
Stocks 28,058 26,585
Debtors 5 66,871 61,554
Cash at bank and in hand 47,312 33,157
142,241 121,296
CREDITORS
Amounts falling due within one year 6 (496,012 ) (323,552 )
NET CURRENT LIABILITIES (353,771 ) (202,256 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

660,157

781,417

CREDITORS
Amounts falling due after more than one
year

7

(474,284

)

(425,382

)

PROVISIONS FOR LIABILITIES (39,241 ) (40,662 )
NET ASSETS 146,632 315,373

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 146,532 315,273
SHAREHOLDERS' FUNDS 146,632 315,373

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:




C G Cooke - Director


NAPIER CATERING LIMITED (REGISTERED NUMBER: 04685619)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Napier Catering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover
Turnover represents amounts billed in respect of catering services supplied during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and property - 2% & 10% on cost
Improvements to property - 15% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33.33% on cost

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

NAPIER CATERING LIMITED (REGISTERED NUMBER: 04685619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 48 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Land and to Plant and
property property machinery
£    £    £   
COST
At 1 April 2023 813,111 54,086 331,966
Additions - - 83,499
At 31 March 2024 813,111 54,086 415,465
DEPRECIATION
At 1 April 2023 45,778 35,710 181,455
Charge for year 16,948 8,113 26,426
At 31 March 2024 62,726 43,823 207,881
NET BOOK VALUE
At 31 March 2024 750,385 10,263 207,584
At 31 March 2023 767,333 18,376 150,511

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 99,407 - 1,298,570
Additions 4,400 4,311 92,210
At 31 March 2024 103,807 4,311 1,390,780
DEPRECIATION
At 1 April 2023 51,954 - 314,897
Charge for year 10,150 318 61,955
At 31 March 2024 62,104 318 376,852
NET BOOK VALUE
At 31 March 2024 41,703 3,993 1,013,928
At 31 March 2023 47,453 - 983,673

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 58,859 52,669
Other debtors 4,127 4,127
Corporation tax 3,695 -
Prepayments and accrued income 190 4,758
66,871 61,554

NAPIER CATERING LIMITED (REGISTERED NUMBER: 04685619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 166,342 130,835
Hire purchase contracts 10,251 4,620
Trade creditors 104,799 65,731
Corporation tax - 3,695
Social security and other taxes 11,544 12,137
VAT 77,999 70,015
Other creditors 87,203 8,718
Director's current accounts 28,272 22,834
Accruals and deferred income 9,602 4,967
496,012 323,552

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 434,306 411,512
Hire purchase contracts 39,978 13,870
474,284 425,382

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 546,204 504,064
Hire purchase contracts 50,229 18,490
596,433 522,554

The bank loans are secured by way of fixed and floating charges over the company's assets.

The hire purchase contracts are secured on the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. OTHER FINANCIAL COMMITMENTS

The company had operating lease commitments relating to motor vehicles at the balance sheet date totalling £14,129 (2023 : £0).