Company registration number 9329881 (England and Wales)
S S CATERING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
S S CATERING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
S S CATERING LTD
BALANCE SHEET
AS AT 30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
10,177
14,210
Current assets
Stocks
10,761
8,933
Debtors
5
58,806
45,350
Cash at bank and in hand
65,963
46,595
135,530
100,878
Creditors: amounts falling due within one year
6
(48,429)
(36,629)
Net current assets
87,101
64,249
Total assets less current liabilities
97,278
78,459
Creditors: amounts falling due after more than one year
7
(27,407)
(35,053)
Provisions for liabilities
(2,544)
(2,700)
Net assets
67,327
40,706
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
67,227
40,606
Total equity
67,327
40,706
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 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.
The financial statements were approved by the board of directors and authorised for issue on 28 March 2025 and are signed on its behalf by:
Soteris Angelis
Director
Company Registration No. 9329881
S S CATERING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
1
Accounting policies
Company information
S S CATERING LTD is a private company limited by shares incorporated in England and Wales. The registered office is 1 Queens Parade, Brownlow Road, London, N11 2DN.
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 provided in the normal course of business, and is shown net of VAT and trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation.
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:
Fixtures, fittings & equipment
25% straight line method
Motor vehicles
25% reducing balance method
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
Stocks
Stocks are stated at the lower of cost and net realisable value.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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.
S S CATERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
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.
1.7
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 taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Leases
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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 except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Change in accounting policy
During the current year the company changed depreciation of fixtures, fittings and equipment from 25% reducing balance to 25% straight line method. This was to better reflect the useful economic life of assets in use by the business. Amounts for the previous year have not been restated and so are not fully comparable.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
S S CATERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023
50,892
Additions
158
Disposals
(5,504)
At 30 November 2024
45,546
Depreciation and impairment
At 1 December 2023
36,682
Depreciation charged in the year
3,756
Eliminated in respect of disposals
(5,069)
At 30 November 2024
35,369
Carrying amount
At 30 November 2024
10,177
At 30 November 2023
14,210
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
56,631
42,667
Other debtors
2,175
2,683
58,806
45,350
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,556
5,556
Trade creditors
14,405
11,767
Corporation tax
17,893
9,241
Other taxation and social security
5,695
5,739
Other creditors
4,880
4,326
48,429
36,629
S S CATERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,488
31,041
Other creditors
1,919
4,012
27,407
35,053
The bank loan borrowed is under the Bounce Back Loan Scheme introduced by the UK government. The government guarantees 100% of this loan.
Other creditors which represent net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
3,266
8,819
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
2,544
2,700
9
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
100 ordinary shares of £1 each
100
100
10
Directors' transactions
Dividends totalling £26,250 (2023 - £15,000) were paid in the year in respect of shares held by the company's directors.
The director's current account was overdrawn during the year and interest totalling £94 (2023: £255) was paid to the company on the overdrawn balance, at HMRC's official rate of interest. The movement on these loans are as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Directors' current account
2.25
(97)
69,171
94
(69,796)
(628)
S S CATERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
11
Controlling party
The company was controlled throughout the current and previous year by the directors and members of their close family by virtue of the fact that between them they own 100% of the company's issued share capital.