Registered number
07760552
Impressions Caterers Ltd
Unaudited Filleted Accounts
31 October 2024
Impressions Caterers Ltd
Registered number: 07760552
Balance Sheet
as at 31 October 2024
Notes 2024 2023
(as restated)
£ £
Fixed assets
Tangible assets 3 72,549 75,340
Current assets
Debtors 4 72,822 79,329
Cash at bank and in hand 238,920 169,839
311,742 249,168
Creditors: amounts falling due within one year 5 (170,028) (163,002)
Net current assets 141,714 86,166
Total assets less current liabilities 214,263 161,506
Creditors: amounts falling due after more than one year 6 (20,366) (31,022)
Provisions for liabilities (13,216) -
Net assets 180,681 130,484
2024 2023
Capital and reserves £ £
Called up share capital 100 100
Profit and loss account 180,581 130,384
Shareholders' funds 180,681 130,484
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 members have 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.
…...........................................
S Jones
Director
Approved by the board on 29 July 2025
Impressions Caterers Ltd
Notes to the Accounts
for the year ended 31 October 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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 20% reducing basis
Motor vehicles 20% reducing basis
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 20
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 100,761 47,440 148,201
Additions 16,246 19,500 35,746
Disposals (25,500) - (25,500)
At 31 October 2024 91,507 66,940 158,447
Depreciation
At 1 November 2023 58,890 13,971 72,861
Charge for the year 7,543 10,594 18,137
On disposals (5,100) - (5,100)
At 31 October 2024 61,333 24,565 85,898
Net book value
At 31 October 2024 30,174 42,375 72,549
At 31 October 2023 41,871 33,469 75,340
4 Debtors 2024 2023
£ £
Trade debtors 72,822 79,329
5 Creditors: amounts falling due within one year 2024 2023
(as restated)
£ £
Trade creditors 64,529 94,084
Director's loan account (note 9.prior years reduced by £31,225) 3,636 17,201
Taxation and social security costs 94,494 44,812
Other creditors 7,369 6,905
170,028 163,002
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans (BBL) 20,366 31,022
7 Loans 2024 2023
£ £
Creditors include:
Secured 6 yr. bounce back bank loan ( secured by Government) 31,022 31,022
8 Profit and loss account 2024 2023 2023
(as restated) (original)
£ £ £
Brought forward 130,384 47,079 47,079
Prior year adjustment ( see note 9) - 31,225 -
Brought forward ( as restated) 130,384 78,304 47,079
Profit 50,197 52,080 52,080
Dividends - - -
180,581 130,384 99,159
9 Prior year adjustment (PYA)
The accounts have been restated to incorporate the impact of an error in the dividends stated in the year ended 31 October 2022 at £61,225 ( instead of £30,000), an oversight by the director being the same amount as the year prior. The director has therefore made a PYA to correct the material error. The change has resulted in the profit and loss reserve available for distribution at 31 October 2022 increasing by £31,225 from the original £47,079 to the restated figure of £78,304. In summary the prior year accounting impact for the year ended 31 October 2022 was a reduction in the dividends distributed in that year and a reduction in the directors loan account under creditors by £31,225.There was no impact to the corporation tax as the error only affected the distributable profit and loss reserves.
10 Controlling party
The ultimate controlling party is the director S Jones by virtue of his majority shareholding in the company .
11 Other information
Impressions Caterers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
New Inn
Silver Street
Abthorpe, Towcester
Northants
NN12 8QR
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