General Information
The Blue Submarine Catering Ltd is a private company, limited by shares, registered in England and Wales, registration number 07211000, registration address 7 Middle Park Road, Russells Hall, Dudley, DY1 2LW.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
10% Reducing Balance
|
| Motor Vehicles |
25% Reducing Balance
|
| Fixtures and Fittings |
10% Reducing Balance
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Average number of employees
Average number of employees during the year was 15 (2024 : 15).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Improvements to property |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
24,858 |
|
43,195 |
|
99,762 |
|
70,638 |
|
238,453 |
| Additions |
- |
|
44,892 |
|
550 |
|
- |
|
45,442 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
24,858 |
|
88,087 |
|
100,312 |
|
70,638 |
|
283,895 |
| Depreciation |
| At 01 April 2024 |
5,251 |
|
26,731 |
|
- |
|
- |
|
31,982 |
| Charge for year |
1,961 |
|
15,339 |
|
34,191 |
|
- |
|
51,491 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
7,212 |
|
42,070 |
|
34,191 |
|
- |
|
83,473 |
| Net book values |
| Closing balance as at 31 March 2025 |
17,646 |
|
46,017 |
|
66,121 |
|
70,638 |
|
200,422 |
| Opening balance as at 01 April 2024 |
19,607 |
|
16,464 |
|
72,918 |
|
70,638 |
|
179,627 |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
1,647 |
|
1,497 |
|
1,647 |
|
1,497 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Prepayments |
- |
|
2,199 |
| Re: S455 CTA 2010 |
40,478 |
|
40,478 |
| Directors' Current Accounts |
113,970 |
|
220,517 |
| VAT |
7,583 |
|
- |
|
162,031 |
|
263,194 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
56,357 |
|
64,810 |
| Corporation Tax |
6,376 |
|
8,039 |
| PAYE & Social Security |
4,424 |
|
10,357 |
| Bus. Interruption Loan Scheme |
- |
|
28,000 |
| NEST |
306 |
|
- |
| Bank loans |
667 |
|
667 |
| VAT |
- |
|
36,143 |
|
68,130 |
|
148,016 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Propel Finance |
22,648 |
|
40,879 |
| Bank loans - 1-2 years |
- |
|
37,000 |
| Bank loans - 2-5 years |
123,725 |
|
33,471 |
|
146,373 |
|
111,350 |
|
| 8. |
Related Party Transaction
The director Mr A Andreas who owns the freehold, goodwill and fixtures and fittings received £20,000 rent from the company. This figure is included in the rent, rates and insurance in the accounts.
|
3
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