WATERSIDE FOOD SERVICES LIMITED


Directors	MORGAN, Christopher
	MORGAN, Lorraine Carol
	MORGAN, Peter, Me
	MORGAN, Susan Mary


Registered Address	Unit 7 Waterside Business Park
	Wheelhouse Road
	Rugeley
	WS15 1LJ


Registered Number	09556386 (England and Wales)

Notes to the Financial Statements
for the year ended 30 April 2025

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	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).

	Revenue from sale of goods
	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.

Revenue from sale of goods

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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	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.

Deferred tax

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.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	25
	Fixtures and fittings	25
	Vehicles	25
	Office Equipment	25

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other 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.

Trade and other 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.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other 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.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	32		29

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Intangible assets

	Other	Total
	£	£
Cost or valuation
Additions	61,373	61,373
At 30 April 25	61,373	61,373
Amortisation and impairment
Charge for year	1,023	1,023
At 30 April 25	1,023	1,023
Net book value
At 30 April 25	60,350	60,350
At 30 April 24	-	-

5.	Useful life of intangible assets
	The estimated useful economic lives of intangible assets are as follows: Computer software - 5 Years

6.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 May 24	30,869	117,595	89,310	43,802	52,068	333,644
Additions	-	44,065	46,694	-	629	91,388
Disposals	(30,869)	(63,185)	(22,745)	(36,077)	(46,372)	(199,248)
At 30 April 25	-	98,475	113,259	7,725	6,325	225,784
Depreciation and impairment
At 01 May 24	-	58,545	40,932	35,286	34,470	169,233
Charge for year	-	10,961	21,771	258	1,190	34,180
On disposals	-	(36,906)	(14,759)	(28,592)	(32,905)	(113,162)
At 30 April 25	-	32,600	47,944	6,952	2,755	90,251
Net book value
At 30 April 25	-	65,875	65,315	773	3,570	135,533
At 30 April 24	30,869	59,050	48,378	8,516	17,598	164,411

7.	Stocks

	2025	2024
	£	£
Finished goods	291,878	267,968
Total	291,878	267,968

8.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	659,779	592,230
Other debtors	47,404	35,914
Prepayments and accrued income	650	-
Total	707,833	628,144

9.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	370,760	330,396
Taxation and social security	106,254	138,905
Other creditors	32,959	28,698
Accrued liabilities and deferred income	2,750	999
Total	512,723	498,998


	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.

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	48,971	27,301
Other provisions	6,874	27,230
Total	55,845	54,531

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	4		60,350		-
Tangible assets	6		135,533		164,411
			195,883		164,411
Current assets
Stocks	7	291,878		267,968
Debtors	8	707,833		628,144
Cash at bank and on hand		868,719		752,362
		1,868,430		1,648,474
Creditors amounts falling due within one year	9	(512,723)		(498,998)
Net current assets (liabilities)			1,355,707		1,149,476
Total assets less current liabilities			1,551,590		1,313,887
Provisions for liabilities	10		(55,845)		(54,531)
Net assets			1,495,745		1,259,356
Capital and reserves
Called up share capital			200		200
Profit and loss account			1,495,545		1,259,156
Shareholders' funds			1,495,745		1,259,356