Fivestar Catering Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03873433 (England and Wales)

Fivestar Catering Ltd

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2020

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:

97 Camberwell Station Road

London

SE5 9JJ

REGISTERED NUMBER:

03873433 (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 Fivestar Catering Ltd for the year ended 31 March 2020 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 Fivestar Catering Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fivestar Catering Ltd and state those matters that we have agreed to state to the director of Fivestar Catering Ltd 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 Fivestar Catering Ltd and its director for our work or for this report.

It is your duty to ensure that Fivestar Catering Ltd 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 loss of Fivestar Catering Ltd. You consider that Fivestar Catering Ltd 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 Fivestar Catering Ltd. 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

21 December 2020

FIXED ASSETS

Property, plant and equipment

4

691,207

696,384

CURRENT ASSETS

Inventories

5

78,887

79,302

Debtors

6

262,531

346,753

Cash in hand

9,973

33,511

351,391

459,566

CREDITORS

Amounts falling due within one year

7

377,604

407,907

NET CURRENT (LIABILITIES)/ASSETS

(26,213

)

51,659

TOTAL ASSETS LESS CURRENT LIABILITIES

664,994

748,043

CREDITORS

Amounts falling due after more than one year

8

(108,073

)

(111,898

)

PROVISIONS FOR LIABILITIES

10

(121,515

)

(120,281

)

NET ASSETS

435,406

515,864

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

12

434,406

514,864

SHAREHOLDERS' FUNDS

435,406

515,864

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 2020 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 and authorised for issue on 21 December 2020 and were signed by:

Mr S Huseyin - Director

1.	STATUTORY INFORMATION

Fivestar Catering Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

20% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 24 (2019 - 27 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 April 2019

1,819,473

Additions

117,707

Disposals

(140

)

At 31 March 2020

1,937,040

DEPRECIATION

At 1 April 2019

1,123,089

Charge for year

122,783

Eliminated on disposal

(39

)

At 31 March 2020

1,245,833

NET BOOK VALUE

At 31 March 2020

691,207

At 31 March 2019

696,384

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2019

931,898

Additions

96,096

At 31 March 2020

1,027,994

DEPRECIATION

At 1 April 2019

600,399

Charge for year

64,518

At 31 March 2020

664,917

NET BOOK VALUE

At 31 March 2020

363,077

At 31 March 2019

331,499

5.	INVENTORIES

2020

2019

£

£

Stocks

78,887

79,302

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

30,831

124,787

Other debtors

231,700

221,966

262,531

346,753

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

47,734

33,128

Hire purchase contracts (see note 9)

65,244

45,455

Trade creditors

86,884

159,564

Taxation and social security

6,128

7,071

Other creditors

171,614

162,689

377,604

407,907

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

24,207

29,835

Hire purchase contracts (see note 9)

83,866

82,063

108,073

111,898

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

24,207

29,835

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2020

2019

£

£

Net obligations repayable:

Within one year

65,244

45,455

Between one and five years

83,866

82,063

149,110

127,518

Non-cancellable operating

leases

2020

2019

£

£

Within one year

13,450

4,115

Between one and five years

25,045

-

38,495

4,115

10.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

121,515

120,281

Deferred

tax

£

Balance at 1 April 2019

120,281

Charge to Statement of Income and Retained Earnings during year

1,234

Balance at 31 March 2020

121,515

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.

RESERVES

Retained

earnings

£

At 1 April 2019

514,864

Deficit for the year

(80,458

)

At 31 March 2020

434,406

13.	RELATED PARTY DISCLOSURES

Transactions with member of key management personnel:

1.During the year, company paid rent of £31,191 (2019:£31,191) for business premises.

2.Company owe £21,837 (2019: £24,439) at balance sheet date.The loan is interest free and payable on demand and is presented within creditors: amounts falling due within one year.

Intercompany transactions:

1.Company owe £95,156 (2019:£112,932) at balance sheet date to related party. The loan is Interest free, have no fixed date of repayment and is presented within creditors: amounts falling due within one year.

2. During the year, company's total commercial transactions worth £167,919 with related party. This related to sales of goods and services and management fees. At balance sheet date nil balance owed by related party.