Hull Catering and Shop Equipment Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01197603

HULL CATERING AND SHOP EQUIPMENT COMPANY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

HULL CATERING AND SHOP EQUIPMENT COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed Assets

Tangible assets	6		117,567		132,954

Current Assets

Stocks		70,232	76,859
Debtors	7	64,087	79,702
Cash at bank and in hand		124,070	164,989
		-----------	-----------
		258,389	321,550

Creditors: amounts falling due within one year	8	167,471		204,992
		-----------		-----------
Net Current Assets			90,918		116,558
			-----------		-----------
Total Assets Less Current Liabilities			208,485		249,512

Creditors: amounts falling due after more than one year	9	35,964	60,100
		-----------	-----------
Net Assets		172,521	189,412
		-----------	-----------

HULL CATERING AND SHOP EQUIPMENT COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

	2024		2023
Note	£	£	£	£

Capital and Reserves

Called up share capital	1,250	1,250
Revaluation reserve	48,299	48,699
Profit and loss account	122,972	139,463
	-----------	-----------
Shareholders Funds	172,521	189,412
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 10 April 2025 , and are signed on behalf of the board by:

G Tinker

Director

Company registration number: 01197603

HULL CATERING AND SHOP EQUIPMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 45 Anlaby Road, Hull, HU1 2PG.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the 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.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Amortisation

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	-	20% 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 Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	15% straight line
Motor vehicles	-	25% straight line

An amount equal to the excess of the annual depreciation charge on revalued assets over the original cost depreciation charge on those assets is transferred annually from the revaluation reserve to retained earnings.

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance Leases and Hire Purchase Contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined Contribution Plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 11 (2023: 11 ).

5. Intangible Assets

	Goodwill
	£
Cost
At 1 January 2024 and 31 December 2024	435
	-----
Amortisation
At 1 January 2024 and 31 December 2024	435
	-----
Carrying amount
At 31 December 2024	–
	-----
At 31 December 2023	–
	-----

6. Tangible Assets

	Freehold Property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	75,000	25,592	99,021	199,613
Additions	–	952	–	952
	---------	---------	---------	-----------
At 31 December 2024	75,000	26,544	99,021	200,565
	---------	---------	---------	-----------
Depreciation
At 1 January 2024	4,800	21,883	39,976	66,659
Charge for the year	600	978	14,761	16,339
	---------	---------	---------	-----------
At 31 December 2024	5,400	22,861	54,737	82,998
	---------	---------	---------	-----------
Carrying amount
At 31 December 2024	69,600	3,683	44,284	117,567
	---------	---------	---------	-----------
At 31 December 2023	70,200	3,709	59,045	132,954
	---------	---------	---------	-----------

Tangible assets held at valuation

The freehold property was valued during the year by the directors to its open market value. There is no tax implication of the revaluation .

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 December 2024
Aggregate cost	22,701
Aggregate depreciation	(2,000)
	---------
Carrying value	20,701
	---------

At 31 December 2023
Aggregate cost	22,701
Aggregate depreciation	(1,600)
	---------
Carrying value	21,101
	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	62,267	67,221
Other debtors	1,820	12,481
	---------	---------
	64,087	79,702
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	105,281	149,864
Social security and other taxes	26,053	23,771
Other creditors	26,137	21,357
	-----------	-----------
	167,471	204,992
	-----------	-----------

Included in other creditors is £14,136 (2023 - £14,136) in respect of a hire purchase agreement which is secured against motor vehicles.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	4,167	14,167
Other creditors	31,797	45,933
	---------	---------
	35,964	60,100
	---------	---------

Included in other creditors is £31,797 (2023 - £45,933) in respect of a hire purchase agreement which is secured against motor vehicles.