Corbett Catering Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: SC720652

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		63,000		72,000
Tangible Assets	5		252,793		256,410

			315,793		328,410
CURRENT ASSETS
Stocks	6	6,038		4,751
Debtors	7	5,000		5,158
Cash at bank and in hand		105,029		59,247

		116,067		69,156
Creditors: Amounts Falling Due Within One Year	8	(49,331 )		(47,441 )

NET CURRENT ASSETS (LIABILITIES)			66,736		21,715

TOTAL ASSETS LESS CURRENT LIABILITIES			382,529		350,125

Creditors: Amounts Falling Due After More Than One Year	9		(200,796 )		(169,737 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,305 )		(3,992 )

NET ASSETS			178,428		176,396

CAPITAL AND RESERVES
Called up share capital	10		168,020		168,010
Profit and Loss Account			10,408		8,386

SHAREHOLDERS' FUNDS			178,428		176,396

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Corbett Catering Ltd

Balance Sheet (continued)

As At 31 January 2026

For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr C Corbett

Director

23/04/2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Corbett Catering Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC720652 . The registered office is 23 Fyrish Court, Evanton, Dingwall, IV16 9UQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements for the year-ended 31 January 2026 are the first financial statements of Corbett Catering Ltd that comply with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1st February 2025.

The transition to FRS 102 has resulted in a small number of changes in accounting policies compared to those used previously. Note 8 to the financial statements describes the effect the transition has had on opening equity and profit for the comparative period.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	%
Plant & Machinery	20% RB
Fixtures & Fittings	20%RB
Computer Equipment	25%RB

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Corbett Catering Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 18 (2025: 15)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 February 2025	90,000

As at 31 January 2026	90,000

Amortisation
As at 1 February 2025	18,000
Provided during the period	9,000

As at 31 January 2026	27,000

Net Book Value
As at 31 January 2026	63,000

As at 1 February 2025	72,000

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Corbett Catering Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 February 2025	235,400	27,228	3,900	740	267,268
Additions	-	-	-	805	805

As at 31 January 2026	235,400	27,228	3,900	1,545	268,073

Depreciation
As at 1 February 2025	-	9,084	1,404	370	10,858
Provided during the period	-	3,629	499	294	4,422

As at 31 January 2026	-	12,713	1,903	664	15,280

Net Book Value
As at 31 January 2026	235,400	14,515	1,997	881	252,793

As at 1 February 2025	235,400	18,144	2,496	370	256,410

6. Stocks

	2026	2025
	£	£
Stock	6,038	4,751

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	-	158
Other debtors	5,000	5,000

	5,000	5,158

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	10,254	9,995
Bank loans and overdrafts	7,980	3,600
Other creditors	1,240	1,603
Taxation and social security	29,857	32,243

	49,331	47,441

9. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	200,796	169,737

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Corbett Catering Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	168,020	168,010

11. Transition to FRS 102

	Note	At 1 February 2024	At 31 January 2025
Capital and reserves (as previously stated)		153,692	180,388
Recognition of deferred taxation		0	-3,992
Capital and reserves (as restated)		153,692	176.396

Note		At 31 January 2025
Profit for the year (as previously stated)		26,696
Recognition of deferred taxation		-3,992
Profit for the year (as restated)		22,704

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