Registered number
04408233
Signature Catering Group Limited
Unaudited Filleted Accounts
30 September 2024
Signature Catering Group Limited
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 5 11,397 15,187
Current assets
Stocks 3,000 3,500
Debtors 6 11,595 26,975
Cash at bank and in hand 191,962 139,334
206,557 169,809
Creditors: amounts falling due within one year 7 (112,208) (104,327)
Net current assets 94,349 65,482
Total assets less current liabilities 105,746 80,669
Provisions for liabilities (2,063) (2,422)
Net assets 103,683 78,247
Capital and reserves
Called up share capital 50 100
Capital redemption reserve 50 -
Profit and loss account 103,583 78,147
Shareholders' funds 103,683 78,247
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr R Abson
Director
Approved by the board on 16 June 2025
Company registration number: 04408233
Signature Catering Group 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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on despatch of 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 fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Goodwill 5% 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 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:
Plant and machinery 15-25% reducing balance
Motor vehicles 25% 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Profit before taxation 2024 2023
£ £
Profit before taxation is stated after charging
Depreciation of tangible assets 4,731 6,703
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 33 38
4 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 28,000
At 30 September 2024 28,000
Amortisation
At 1 October 2023 28,000
At 30 September 2024 28,000
Net book value
At 30 September 2024 -
Goodwill was written off in equal annual instalments over its estimated economic life of 5 years.
5 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 86,250 45,441 131,691
Additions 941 - 941
At 30 September 2024 87,191 45,441 132,632
Depreciation
At 1 October 2023 81,847 34,657 116,504
Charge for the year 2,035 2,696 4,731
At 30 September 2024 83,882 37,353 121,235
Net book value
At 30 September 2024 3,309 8,088 11,397
At 30 September 2023 4,403 10,784 15,187
6 Debtors 2024 2023
£ £
Trade debtors 6,425 15,588
Other debtors 5,170 11,387
11,595 26,975
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 7,499
Trade creditors 19,920 19,966
Taxation and social security costs 41,802 27,387
Other creditors 50,486 49,475
112,208 104,327
On 16 June 2020 a Bounce Back Loan of £25,000 was obtained. This was repayable over 72 months and bore interest at 2.5%. On 23 February 2021 a further £25,000 loan was obtained. At 30 September 2024 a total of £nil (2023 £7,499) remained outstanding of which £nil (2023 £7,499) is included in bank loans and falls due for repayment within one year.
8 Events after the reporting date
Following the loss of the company's principal contract effective from 13 January 2025, the decision has been taken to close down the company. The accounts have therefore been prepared using the break-up basis.
9 Other information
Signature Catering Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
Epsilon House
Enterprise Road
Southampton Science Park
Southampton
SO16 7NS
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