London Catering Services (SE) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05532527 (England and Wales)

London Catering Services (SE) Limited

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

DIRECTORS:

Mr O Hussein

Mrs S Hussein

SECRETARY:

Mrs S Hussein

REGISTERED OFFICE:

Rochester Airport Industrial Estate

3 Laker Road

Rochester

ME1 3QX

REGISTERED NUMBER:

05532527 (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 directors 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 Income Statement and certain other primary statements and the Report of the Directors 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 London Catering Services (SE) Limited for the year ended 31 March 2020 which comprise the 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 Board of Directors of London Catering Services (SE) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of London Catering Services (SE) Limited and state those matters that we have agreed to state to the Board of Directors of London Catering Services (SE) Limited, as a body, 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 London Catering Services (SE) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that London Catering Services (SE) 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 loss of London Catering Services (SE) Limited. You consider that London Catering Services (SE) 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 London Catering Services (SE) 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

8 February 2021

FIXED ASSETS

Property, plant and equipment

4

841,368

751,860

CURRENT ASSETS

Inventories

5

58,817

59,580

Debtors

6

993,116

675,862

Cash at bank and in hand

28,874

25,453

1,080,807

760,895

CREDITORS

Amounts falling due within one year

7

1,197,914

729,554

NET CURRENT (LIABILITIES)/ASSETS

(117,107

)

31,341

TOTAL ASSETS LESS CURRENT LIABILITIES

724,261

783,201

CREDITORS

Amounts falling due after more than one year

8

(194,791

)

(77,405

)

PROVISIONS FOR LIABILITIES

9

(146,136

)

(126,435

)

NET ASSETS

383,334

579,361

CAPITAL AND RESERVES

Called up share capital

10

100,000

100,000

Retained earnings

11

283,334

479,361

SHAREHOLDERS' FUNDS

383,334

579,361

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 8 February 2021 and were signed on its behalf by:

Mr O Hussein - Director

Mrs S Hussein - Director

1.	STATUTORY INFORMATION

London Catering Services (SE) 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 generated from the ordinary activities of the business and is recognised when the customer takes delivery of the goods.

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.

Short leasehold

-

20% on cost

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% 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 on a first in first out basis. Net realisable value is the selling price of the item 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 15 (2019 - 10 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2019

4,670

2,056,584

2,061,254

Additions

-

372,835

372,835

Disposals

-

(154,508

)

(154,508

)

At 31 March 2020

4,670

2,274,911

2,279,581

DEPRECIATION

At 1 April 2019

3,736

1,305,658

1,309,394

Charge for year

934

265,289

266,223

Eliminated on disposal

-

(137,404

)

(137,404

)

At 31 March 2020

4,670

1,433,543

1,438,213

NET BOOK VALUE

At 31 March 2020

-

841,368

841,368

At 31 March 2019

934

750,926

751,860

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

955,927

Additions

266,515

Disposals

(152,508

)

At 31 March 2020

1,069,934

DEPRECIATION

At 1 April 2019

566,624

Charge for year

159,716

Eliminated on disposal

(135,554

)

At 31 March 2020

590,786

NET BOOK VALUE

At 31 March 2020

479,148

At 31 March 2019

389,303

5.	INVENTORIES

2020

2019

£

£

Stocks

58,817

59,580

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

564,141

512,775

Other debtors

428,975

163,087

993,116

675,862

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

53,467

-

Hire purchase contracts

139,997

54,157

Trade creditors

660,509

348,531

Taxation and social security

19,034

28,976

Other creditors

324,907

297,890

1,197,914

729,554

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

50,000

-

Hire purchase contracts

144,791

77,405

194,791

77,405

9.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

146,136

126,435

Deferred

tax

£

Balance at 1 April 2019

126,435

Charge to Statement of Income and Retained Earnings during year

19,701

Balance at 31 March 2020

146,136

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100,000

Ordinary

£1

100,000

100,000

11.

RESERVES

Retained

earnings

£

At 1 April 2019

479,361

Deficit for the year

(196,027

)

At 31 March 2020

283,334

12.	RELATED PARTY DISCLOSURES

Transactions with member of key management personnel:

1.During the year, company paid additional rent of £8,333 (2019:£50,000).

2.Company owe £160,243 (2019:£196,384) at balance sheet date. The loan is interest free, payable on demand and is presented within creditors: amounts falling due within one year.

Transactions with companies under common control:

1.At balance sheet date an amount of £289,219 due from related party. The loan is interest free, have no fixed date of repayment and is presented within debtors: amounts falling due within one year.

2.At balance sheet date an amount of £156,000 owe 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.