Registered number
09696016
Catergas Limited
Filleted Accounts
31 July 2024
Catergas Limited
Registered number: 09696016
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 84,081 76,990
Current assets
Stocks 300 300
Debtors 4 70,838 22,972
Cash at bank and in hand 80,393 27,782
151,531 51,054
Creditors: amounts falling due within one year 5 (60,849) (33,067)
Net current assets 90,682 17,987
Total assets less current liabilities 174,763 94,977
Creditors: amounts falling due after more than one year 6 (171,807) (90,332)
Provisions for liabilities (2,479) (2,112)
Net assets 477 2,533
Capital and reserves
Called up share capital 1 1
Profit and loss account 476 2,532
Shareholder's funds 477 2,533
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A E Gray
Director
Approved by the board on 19 April 2025
Catergas Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 25% per annum on reducing balance
Motor vehicles 25% per annum on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 August 2023 24,709 102,215 126,924
Additions 6,281 47,613 53,894
Disposals - (62,313) (62,313)
At 31 July 2024 30,990 87,515 118,505
Depreciation
At 1 August 2023 13,592 36,342 49,934
Charge for the year 4,350 14,819 19,169
On disposals - (34,679) (34,679)
At 31 July 2024 17,942 16,482 34,424
Net book value
At 31 July 2024 13,048 71,033 84,081
At 31 July 2023 11,117 65,873 76,990
4 Debtors 2024 2023
£ £
Trade debtors 67,872 17,745
Other debtors - 1,583
Prepayments 2,966 3,644
70,838 22,972
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 19,021 12,552
Obligations under finance lease and hire purchase contracts 9,730 11,689
Trade creditors 12,452 3,433
Taxation and social security costs 16,895 2,154
Director's current account 844 1,756
Accruals 1,907 1,483
60,849 33,067
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 112,708 31,972
Obligations under finance lease and hire purchase contracts 59,099 58,360
171,807 90,332
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 11,194
Secured bank loans 99,756 7,674
The bank loan is secured by a guarantee provided by the director.
8 Related party transactions
At the balance sheet date, as included under creditors, the company owed monies to Mr A E Gray amounting to £844 (2023 - £1,756) on an unsecured interest free basis.
9 Controlling party
The ultimate controlling party is Mr A E Gray by virtue of him owning 100% of the company's issued share capital.
10 Other information
Catergas Limited is a private company limited by shares and incorporated in England. Its registered office is:
St Dunstans House
15-17 South Street
Tarring
Worthing
West Sussex
BN14 7LG
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