Court Catering Equipment Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01248264 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

COURT CATERING EQUIPMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A M Imlah

M A J Street

A A Fitzwater

Mrs M Imlah

A Kerr

REGISTERED OFFICE:

Unitech House

Prospect Road

Burntwood

Staffordshire

WS7 0AU

REGISTERED NUMBER:

01248264 (England and Wales)

AUDITORS:

Fortus Audit LLP

1 Rushmills

Bedford Road

Northampton

Northamptonshire

NN4 7YB

FIXED ASSETS

Tangible assets

4

74,393

102,954

CURRENT ASSETS

Stocks

66,707

148,151

Debtors

5

1,577,243

1,116,455

Cash at bank and in hand

77,475

450,870

1,721,425

1,715,476

CREDITORS

Amounts falling due within one year

6

1,539,496

1,284,036

NET CURRENT ASSETS

181,929

431,440

TOTAL ASSETS LESS CURRENT LIABILITIES

256,322

534,394

CREDITORS

Amounts falling due after more than one year

7

-

1,501

NET ASSETS

256,322

532,893

CAPITAL AND RESERVES

Called up share capital

9

2,222

2,222

Capital redemption reserve

7,778

7,778

Retained earnings

246,322

522,893

SHAREHOLDERS' FUNDS

256,322

532,893

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 July 2021 and were signed on its behalf by:

A M Imlah - Director

M A J Street - Director

1.	STATUTORY INFORMATION

Court Catering Equipment 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 company's main place of business is 8 Cowley Road, Acton, London, W3 7XA.

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.

There were no material departures from this standard.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and that the revenue can be reliably measured.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Revenue relating to contracts includes the amount agreed in the contract plus any variations in contract work to the extent that it is probable that they will result in revenue and can be reliably measured. As soon as the outcome of the contract can be measured reliably, the revenue and expense is recognised in the profit and loss account on a stage of completion basis. The stage of completion is determined by reference to a survey of the work performed.

Retentions are progress billings that are retained by the customer until certain conditions are met. Once these conditions are met, the customer pays the retention. Retentions are included in turnover and any outstanding balance the year end is included in debtors under other debtors.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Plant and machinery

-

25% on cost

Fixtures fittings & equipment

-

at varying rates on cost

Motor vehicles

-

20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Government grants

Government grants relating to the Coronavirus Job Retention Scheme are recognised in income in the period in which it becomes receivable under the performance model.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

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

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.

Going concern

The financial statements have been prepared on a going concern basis, the validity of which is dependent upon the continued financial support of Unitech Industries Ltd, the parent undertaking. At the date of approval of these financial statements, Unitech Industries Ltd has committed to support the company financially for the foreseeable future. Based on this undertaking, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

The directors have considered the impact of COVID-19 in relation to their assessment of going concern and in their opinion have taken all reasonable steps to mitigate these factors. As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2019 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

fittings

Motor

machinery

& equipment

vehicles

Totals

£

£

£

£

COST

At 1 January 2020

40,195

167,173

207,355

414,723

Additions

-

27,932

-

27,932

Disposals

-

-

(48,890

)

(48,890

)

At 31 December 2020

40,195

195,105

158,465

393,765

DEPRECIATION

At 1 January 2020

40,195

143,116

128,458

311,769

Charge for year

-

15,063

38,244

53,307

Eliminated on disposal

-

-

(45,704

)

(45,704

)

At 31 December 2020

40,195

158,179

120,998

319,372

NET BOOK VALUE

At 31 December 2020

-

36,926

37,467

74,393

At 31 December 2019

-

24,057

78,897

102,954

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

Motor

vehicles

£

COST

At 1 January 2020

71,273

Transfer to ownership

(40,384

)

At 31 December 2020

30,889

DEPRECIATION

At 1 January 2020

30,831

Charge for year

14,255

Transfer to ownership

(27,068

)

At 31 December 2020

18,018

NET BOOK VALUE

At 31 December 2020

12,871

At 31 December 2019

40,442

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,040,170

779,253

Amounts owed by group undertakings

230,659

33,166

Other debtors

182,682

129,875

Tax

24,876

15,551

Deferred tax asset

5,115

3,796

Prepayments

93,741

154,814

1,577,243

1,116,455

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

1,511

14,514

Trade creditors

1,117,373

973,955

Amounts owed to group undertakings

3,882

38,330

Corporation tax

-

18,442

Social security and other taxes

24,052

31,276

VAT

125,234

88,296

Other creditors

147,973

80,448

Accrued expenses

119,471

38,775

1,539,496

1,284,036

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

-

1,501

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

1,511

16,015

The bank borrowings were secured on the property.

Hire purchase creditors are secured on the creditors to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2,222

Ordinary

£1

2,222

2,222

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Jones FCCA (Senior Statutory Auditor)

for and on behalf of Fortus Audit LLP

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A M Imlah.