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COMPANY REGISTRATION NUMBER: 07974944
Damask Catering Limited
Filleted Unaudited Financial Statements
30 June 2024
Damask Catering Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
7,440
9,920
Tangible assets
6
498,576
623,726
---------
---------
506,016
633,646
Current assets
Stocks
57,457
85,377
Debtors
7
761,111
505,171
Investments
8
50,000
Cash at bank and in hand
11,414
38,456
---------
---------
879,982
629,004
Creditors: amounts falling due within one year
9
3,443,155
2,425,321
------------
------------
Net current liabilities
2,563,173
1,796,317
------------
------------
Total assets less current liabilities
( 2,057,157)
( 1,162,671)
Creditors: amounts falling due after more than one year
10
( 91,516)
314,936
------------
------------
Net liabilities
( 1,965,641)
( 1,477,607)
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,965,741)
( 1,477,707)
------------
------------
Shareholders deficit
( 1,965,641)
( 1,477,607)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Damask Catering Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 25 October 2024 , and are signed on behalf of the board by:
Mr Ridha
Director
Company registration number: 07974944
Damask Catering Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jubilee House, Townsend Lane, London, NW9 8TZ, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intangible Assets
-
20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and Buildings
-
15% straight line
Plant and machinery
-
20% straight line
Fixtures and Fittings
-
15% straight line
Motor Vehicles
-
15% straight line
Equipment
-
15 % straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 50 (2023: 50 ).
5. Intangible assets
Intangible asset user defined 1
£
Cost
Additions
12,400
--------
At 30 June 2024
12,400
--------
Amortisation
At 1 July 2023
2,480
Charge for the year
2,480
--------
At 30 June 2024
4,960
--------
Carrying amount
At 30 June 2024
7,440
--------
At 30 June 2023
( 2,480)
--------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jul 2023
685,877
380,863
65,058
32,745
21,393
1,185,936
Additions
21,231
34,538
30,474
239
86,482
---------
---------
--------
--------
--------
------------
At 30 Jun 2024
707,108
415,401
95,532
32,745
21,632
1,272,418
---------
---------
--------
--------
--------
------------
Depreciation
At 1 Jul 2023
211,783
297,346
12,030
27,833
13,218
562,210
Charge for the year
106,066
83,080
14,330
4,912
3,244
211,632
---------
---------
--------
--------
--------
------------
At 30 Jun 2024
317,849
380,426
26,360
32,745
16,462
773,842
---------
---------
--------
--------
--------
------------
Carrying amount
At 30 Jun 2024
389,259
34,975
69,172
5,170
498,576
---------
---------
--------
--------
--------
------------
At 30 Jun 2023
474,094
83,517
53,028
4,912
8,175
623,726
---------
---------
--------
--------
--------
------------
7. Debtors
2024
2023
£
£
Trade debtors
206,845
272,982
Amounts owed by group undertakings and undertakings in which the company has a participating interest
142,499
142,499
Other debtors
411,767
89,690
---------
---------
761,111
505,171
---------
---------
8. Investments
2024
2023
£
£
Investment from France in GL
50,000
--------
----
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,808
10,644
Trade creditors
594,794
363,956
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,261,800
641,673
Social security and other taxes
67,604
16,468
EL&N France Hold
50,000
Other creditors
1,458,149
1,392,580
------------
------------
3,443,155
2,425,321
------------
------------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,570
18,382
Amounts owed to group undertakings and undertakings in which the company has a participating interest
( 178,246)
189,283
EL&N International Ltd
79,160
76,200
EL&N Heathrow (EL&N Speciality Coffee Limited)
31,071
---------
---------
( 91,516)
314,936
---------
---------
11. Director's advances, credits and guarantees
12. Related party transactions
Alerma Limited, Black point Partnership Limited and Boundary Health food specialists are related parties with Damask Catering by the virtue of common shareholding. At the year end Damask catering Limites has the below mentioned balance with these companies: Black Point Partnerhsip Ltd £409,859.10 Cr Boundary Health Food specialists £352,629.14 Cr Alerma Limited £19,829.54 Cr