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OWEN CATERING LIMITED

Registered Number
08231465
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

OWEN CATERING LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

OWEN, Thomas James

Registered Address

16 Gold Tops
Newport
NP20 4PH

Registered Number

08231465 (England and Wales)
OWEN CATERING LIMITED
Statement of Financial Position
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets315,24419,866
15,24419,866
Current assets
Stocks53,0003,000
Debtors6160,53940,564
Cash at bank and on hand50,715149,474
214,254193,038
Creditors amounts falling due within one year7(72,616)(49,573)
Net current assets (liabilities)141,638143,465
Total assets less current liabilities156,882163,331
Creditors amounts falling due after one year8(7,500)(17,500)
Provisions for liabilities9(3,811)(4,967)
Net assets145,571140,864
Capital and reserves
Called up share capital100100
Profit and loss account145,471140,764
Shareholders' funds145,571140,864
The financial statements were approved and authorised for issue by the Director on 18 June 2025, and are signed on its behalf by:
OWEN, Thomas James
Director
Registered Company No. 08231465
OWEN CATERING LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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. 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight line
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
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. When contributions are not expected to be settled wholly within twelve months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost and are 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 capital and reserves, 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 comprensive income to the extent of any previously recognised revaluation increased accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that assets, the excess shall be recognised in profit or loss. Depreciation is calculated so as to write off the cost or revaluation of an asset, less its estimated residual value, over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Stocks and work in progress
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 stocks to their present location and condition.
2.Average number of employees

20242023
Average number of employees during the year1210
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 October 2320,71121,50042,211
Additions425-425
At 30 September 2421,13621,50042,636
Depreciation and impairment
At 01 October 239,44312,90222,345
Charge for year2,8972,1505,047
At 30 September 2412,34015,05227,392
Net book value
At 30 September 248,7966,44815,244
At 30 September 2311,2688,59819,866
4.Impairment of fixed asset investments
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
5.Stocks

2024

2023

££
Raw materials and consumables3,0003,000
Total3,0003,000
6.Debtors: amounts due within one year

2024

2023

££
Other debtors160,53940,564
Total160,53940,564
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables10,0909,566
Bank borrowings and overdrafts10,00010,000
Taxation and social security50,64524,072
Other creditors2941,727
Accrued liabilities and deferred income1,5874,208
Total72,61649,573
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts7,50017,500
Total7,50017,500
9.Provisions for liabilities
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of provision as an expense, Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

2024

2023

££
Net deferred tax liability (asset)3,8114,967
Total3,8114,967
10.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
OWEN, Thomas James40,06430,85970,9230
40,06430,85970,9230
11.Controlling party
Ultimate control of the company lies with Mr T.J. Owen.