L&V Catering Ltd - Accounts

L&V Catering Ltd - Accounts

L&V CATERING LTD - Company Information

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Registered Number: 09367449
England and Wales

 

 

 

L&V CATERING LTD


Abridged Accounts
 


Period of accounts

Start date: 01 May 2019

End date: 30 April 2020

L&V Catering Ltd
Contents Page
For the year ended 30 April 2020
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 April 2020 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Kays Accountants
30 April 2020



....................................................
Kays Accountants
170 Park Lane

Manchester
M45 7PX
30 April 2021
1
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Intangible fixed assets 2 112,771    135,325 
Tangible fixed assets 3 89,996    100,339 
202,767    235,664 
Current assets      
Stocks 7,339    6,320 
Debtors 27,487    32,232 
Cash at bank and in hand 100,069    114,681 
134,895    153,233 
Creditors: amount falling due within one year (313,056)   (352,612)
Net current liabilities (178,161)   (199,379)
 
Total assets less current liabilities 24,606    36,285 
Net assets 24,606    36,285 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 24,506    36,185 
Shareholders funds 24,606    36,285 
 


For the year ended 30 April 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 30 April 2021 and were signed by:


--------------------------------
L Brumby
Director
2
General Information
L&V Catering Ltd is a private company, limited by shares,registered in England and Wales,registration number 09367449,registration address 170 Park Lane, Whitefield, Manchester, United Kingdom, M45 7PX

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of ten years.


Amortisation is using the straight line method
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:


15% reducing balance
Plant and Machinery 15 Reducing Balance
Motor Vehicles 15 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 May 2019 225,541    225,541 
Additions -    - 
Disposals -    - 
At 30 April 2020 225,541    225,541 
Amortisation
At 01 May 2019 90,216    90,216 
Charge for year 22,554    22,554 
On disposals -    - 
At 30 April 2020 112,770    112,770 
Net book values
At 30 April 2020 112,771    112,771 
At 30 April 2019 135,325    135,325 


3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 May 2019 162,892    21,997    184,889 
Additions 4,707    -    4,707 
Disposals -    -    - 
At 30 April 2020 167,599    21,997    189,596 
Depreciation
At 01 May 2019 73,630    10,920    84,550 
Charge for year 13,389    1,661    15,050 
On disposals -    -    - 
At 30 April 2020 87,019    12,581    99,600 
Net book values
Closing balance as at 30 April 2020 80,580    9,416    89,996 
Opening balance as at 01 May 2019 89,262    11,077    100,339 


4.

Average number of employees

Average number of employees during the year was 17 (2019 : 14).
3