S.O. Catering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05317451 (England and Wales)

S.O. Catering Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2019

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

Mr S Huseyin

SECRETARY:

Mrs J Huseyin

REGISTERED OFFICE:

239-241 Kennington Lane

London

SE11 5QU

REGISTERED NUMBER:

05317451 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Abridged Statement of Comprehensive Income

and certain other primary statements and the Report of the Director are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of S.O. Catering Limited for the year ended 31 March 2019 which comprise the Abridged Statement

of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of S.O. Catering Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S.O. Catering Limited and state those matters that we have agreed to state to the director of S.O. Catering Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S.O. Catering Limited and its director for our work or for this report.

It is your duty to ensure that S.O. Catering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of S.O. Catering Limited. You consider that S.O. Catering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of S.O. Catering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

29 October 2019

FIXED ASSETS

Property, plant and equipment

4

657,437

655,104

CURRENT ASSETS

Inventories

5

1,450

1,050

Debtors

6

140,531

87,363

Cash at bank and in hand

70,971

72,258

212,952

160,671

CREDITORS

Amounts falling due within one year

7

156,772

151,165

NET CURRENT ASSETS

56,180

9,506

TOTAL ASSETS LESS CURRENT LIABILITIES

713,617

664,610

PROVISIONS FOR LIABILITIES

8

6,464

4,824

NET ASSETS

707,153

659,786

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

707,053

659,686

SHAREHOLDERS' FUNDS

707,153

659,786

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 29 October 2019 and were signed by:

Mr S Huseyin - Director

1.	STATUTORY INFORMATION

S.O. Catering Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover is recognised when the customer takes delivery of the order.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

straight line over the life of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Cost is determined on first in first out basis. Net realisable value is the amount to be realised from sale of stock

less any cost to sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 5 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2018

629,712

27,097

47,979

704,788

Additions

-

2,544

12,089

14,633

At 31 March 2019

629,712

29,641

60,068

719,421

DEPRECIATION

At 1 April 2018

-

10,725

38,959

49,684

Charge for year

6,297

2,837

3,166

12,300

At 31 March 2019

6,297

13,562

42,125

61,984

NET BOOK VALUE

At 31 March 2019

623,415

16,079

17,943

657,437

At 31 March 2018

629,712

16,372

9,020

655,104

5.	INVENTORIES

2019

2018

£

£

Stocks

1,450

1,050

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

5,800

18,053

Other debtors

134,731

69,310

140,531

87,363

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

223

381

Trade creditors

30,459

7,979

Taxation and social security

20,514

35,011

Other creditors

105,576

107,794

156,772

151,165

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

6,464

4,824

Deferred

tax

£

Balance at 1 April 2018

4,824

Charge to Abridged Statement of Comprehensive Income during year

1,640

Balance at 31 March 2019

6,464

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 April 2018

659,686

Profit for the year

66,367

Dividends

(19,000

)

At 31 March 2019

707,053

11.	RELATED PARTY DISCLOSURES

Fivestar Catering Ltd

A company in which Mr S Huseyin is a shareholder and director.

1. At balance sheet date amount of £112,932 due from related party (reported under Note 9-Other Debtors).

2. During the year related party charged £100,000 as management charges to S.O. Catering Ltd.