Caterbitz Ltd - Filleted accounts


Registered number
10169004
Caterbitz Ltd
Unaudited Filleted Accounts
31 May 2019
Caterbitz Ltd
Registered number: 10169004
Balance Sheet
as at 31 May 2019
Notes 2019 2018
£ £
Fixed assets
Tangible assets 3 97,497 36,191
Current assets
Stocks 67,771 55,750
Debtors 4 8,619 22,278
Cash at bank and in hand 185,370 97,096
261,760 175,124
Creditors: amounts falling due within one year 5 (80,575) (73,175)
Net current assets 181,185 101,949
Total assets less current liabilities 278,682 138,140
Creditors: amounts falling due after more than one year 6 - (4,881)
Net assets 278,682 133,259
Capital and reserves
Called up share capital 2 2
Profit and loss account 278,680 133,257
Shareholders' funds 278,682 133,259
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.
R Moreton
Director
Approved by the board on 28 February 2020
Caterbitz Ltd
Notes to the Accounts
for the year ended 31 May 2019
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 and motor vehicles 25% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2019 2018
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 June 2018 5,351 17,011 22,525 44,887
Additions - 54,703 21,023 75,726
Disposals - - (10,000) (10,000)
At 31 May 2019 5,351 71,714 33,548 110,613
Depreciation
At 1 June 2018 - 1,190 7,506 8,696
Charge for the year - 1,661 7,134 8,795
On disposals - - (4,375) (4,375)
At 31 May 2019 - 2,851 10,265 13,116
Net book value
At 31 May 2019 5,351 68,863 23,283 97,497
At 31 May 2018 5,351 15,821 15,019 36,191
4 Debtors 2019 2018
£ £
Trade debtors - 19,011
Other debtors 8,619 3,267
8,619 22,278
5 Creditors: amounts falling due within one year 2019 2018
£ £
Obligations under finance lease and hire purchase contracts - 3,415
Trade creditors 758 617
Taxation and social security costs 32,256 40,709
Other creditors 47,561 28,434
80,575 73,175
6 Creditors: amounts falling due after one year 2019 2018
£ £
Obligations under finance lease and hire purchase contracts - 4,881
7 Related party transactions
Mr R Moreton (Director) has a loan account with the company. At the balance sheet date he was owed £94 (2018: £807) by the company.
8 Controlling party
The company is controlled by Mr R Moreton, it's sole director, who together with family interests, owns 100% of the issued share capital.
9 Other information
Caterbitz Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit B3 30 Blackmoor Road
Ebblake Industrial Estate
Verwood
Dorset
BH31 6BB
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