Company registration number 01053238 (England and Wales)
J. ELLINGWORTH (CATERERS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
J. ELLINGWORTH (CATERERS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
J. ELLINGWORTH (CATERERS) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
210,816
216,873
Investment properties
5
1,405,614
1,405,614
1,616,430
1,622,487
Current assets
Debtors
6
340,117
363,367
Cash at bank and in hand
3,006
6,782
343,123
370,149
Creditors: amounts falling due within one year
7
(64,891)
(83,950)
Net current assets
278,232
286,199
Total assets less current liabilities
1,894,662
1,908,686
Provisions for liabilities
(94,204)
(94,425)
Net assets
1,800,458
1,814,261
Capital and reserves
Called up share capital
800
800
Fair value reserve
408,921
408,921
Other reserves
450,200
450,200
Profit and loss reserves
940,537
954,340
Total equity
1,800,458
1,814,261
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
J. ELLINGWORTH (CATERERS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 30 January 2025
Mr D King
Director
Company Registration No. 01053238
J. ELLINGWORTH (CATERERS) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Fair value reserve
Other reserves
Profit and loss reserves
Total
£
£
£
£
£
Balance at 30 November 2021
800
431,369
450,200
895,534
1,777,903
Period ended 31 March 2023:
Profit and total comprehensive income for the period
-
-
-
36,358
36,358
Transfers
-
(22,448)
-
22,448
-
Balance at 31 March 2023
800
408,921
450,200
954,340
1,814,261
Year ended 31 March 2024:
Loss and total comprehensive income for the year
-
-
-
(13,803)
(13,803)
Balance at 31 March 2024
800
408,921
450,200
940,537
1,800,458
J. ELLINGWORTH (CATERERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
J. Ellingworth (Caterers) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gladstone House, 77/79 High Street, Egham, Surrey, United Kingdom, TW20 9HY.
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, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Other operating income relates to rent receivable and is recognised at the fair value of the consideration received or receivable for services provided.
1.3
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:
Freehold land and buildings
Straight line over 50 years
Fixtures and fittings
25% 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.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include deposits held at call with banks.
1.6
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.
J. ELLINGWORTH (CATERERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
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, 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.
1.7
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.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.
J. ELLINGWORTH (CATERERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following critical estimates and assumptions have had the most significant effect on amounts recognised in the financial statements.
Investment properties
The company's investment properties are valued, on the basis of market value, by the director of the company. The investment properties are valued at £1,405,614 at the period end.
The director is of the opinion that the estimates and assumptions that they have used in the valuation of the investment properties are appropriate.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
252,499
36,562
3,170
292,231
Additions
518
518
At 31 March 2024
252,499
37,080
3,170
292,749
Depreciation and impairment
At 1 April 2023
41,241
30,971
3,146
75,358
Depreciation charged in the year
5,051
1,517
7
6,575
At 31 March 2024
46,292
32,488
3,153
81,933
Carrying amount
At 31 March 2024
206,207
4,592
17
210,816
At 31 March 2023
211,258
5,591
24
216,873
J. ELLINGWORTH (CATERERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
5
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
1,405,614
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
44,393
38,578
Other debtors
295,724
324,789
340,117
363,367
7
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
3,008
26,538
Other taxation and social security
2,833
Other creditors
59,050
57,412
64,891
83,950