Registered number
10949385
BAG Katering Limited
Filleted Accounts
30 September 2024
BAG Katering Limited
Registered number: 10949385
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 40,467 69,392
Current assets
Stocks 4,954 18,107
Debtors 4 37,560 45,634
Cash at bank and in hand 27,096 78,368
69,610 142,109
Creditors: amounts falling due within one year 5 (174,565) (224,166)
Net current liabilities (104,955) (82,057)
Total assets less current liabilities (64,488) (12,665)
Creditors: amounts falling due after more than one year 6 (35,384) (37,095)
Net liabilities (99,872) (49,760)
Capital and reserves
Called up share capital 101 101
Profit and loss account (99,973) (49,861)
Shareholder's funds (99,872) (49,760)
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.
Gezim velo
Director
Approved by the board on 4 April 2025
BAG Katering Limited
Notes to the Accounts
for the year ended 30 September 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 sales of food and drink (excluding VAT) taken daily by cash or credit card.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Fixtures, fittings, and equipment between 2 and 15 years
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
The nature of the business means there are no trade debtors.
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. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 34 34
3 Tangible fixed assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 October 2023 87,535 2,375 89,910
Additions 413 - 413
Disposals (41,218) (2,375) (43,593)
At 30 September 2024 46,730 - 46,730
Depreciation
At 1 October 2023 19,330 1,188 20,518
Charge for the year 3,577 - 3,577
On disposals (16,644) (1,188) (17,832)
At 30 September 2024 6,263 - 6,263
Net book value
At 30 September 2024 40,467 - 40,467
At 30 September 2023 68,205 1,187 69,392
4 Debtors 2024 2023
£ £
Other debtors 37,560 45,634
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,000 5,000
Trade creditors 51,074 118,343
Taxation and social security costs 93,367 86,280
Other creditors 25,124 14,543
174,565 224,166
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 35,384 37,095
7 Events after the reporting date
On the 21st October 2024 Gezim Velo acquired the entire share capital of the company.
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 247,230 345,000
9 Other information
BAG Katering Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Spring
1 Ferry Path
Cambridge
CB4 1HB
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