S.O. Catering Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05317451 (England and Wales)

S.O. Catering Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2023

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

Mrs J Huseyin

SECRETARY:

Mrs J Huseyin

REGISTERED OFFICE:

239-241 Kennington Lane

London

SE11 5QU

REGISTERED NUMBER:

05317451 (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 S.O. Catering Limited for the year ended 31 March 2023 which comprise the Abridged Income Statement, 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 S.O. Catering Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S.O. Catering Limited and state those matters that we have agreed to state to the director of S.O. Catering Limited 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 S.O. Catering Limited and its director for our work or for this report.

It is your duty to ensure that S.O. Catering 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 profit of S.O. Catering Limited. You consider that S.O. Catering 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 S.O. Catering 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

21 December 2023

FIXED ASSETS

Property, plant and equipment

4

640,882

654,707

CURRENT ASSETS

Inventories

5

2,329

2,311

Debtors

6

41,597

39,828

Cash at bank and in hand

438,406

176,735

482,332

218,874

CREDITORS

Amounts falling due within one year

7

243,488

74,504

NET CURRENT ASSETS

238,844

144,370

TOTAL ASSETS LESS CURRENT LIABILITIES

879,726

799,077

CREDITORS

Amounts falling due after more than one year

8

(54,182

)

(84,390

)

PROVISIONS FOR LIABILITIES

11

(10,664

)

(9,535

)

NET ASSETS

814,880

705,152

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

814,780

705,052

SHAREHOLDERS' FUNDS

814,880

705,152

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 December 2023 and were signed by:

Mrs J Huseyin - Director

1.	STATUTORY INFORMATION

S.O. Catering 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 customers take 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.

Long leasehold

-

straight line over the life of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% 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.

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 4 (2022 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

629,712

136,014

765,726

DEPRECIATION

At 1 April 2022

25,188

85,831

111,019

Charge for year

6,297

7,528

13,825

At 31 March 2023

31,485

93,359

124,844

NET BOOK VALUE

At 31 March 2023

598,227

42,655

640,882

At 31 March 2022

604,524

50,183

654,707

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

Plant and

machinery

etc

£

COST

At 1 April 2022

33,330

Transfer to ownership

(33,330

)

At 31 March 2023

-

DEPRECIATION

At 1 April 2022

12,861

Charge for year

3,070

Transfer to ownership

(15,931

)

At 31 March 2023

-

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

20,469

5.	INVENTORIES

2023

2022

£

£

Stocks

2,329

2,311

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

29,746

25,514

Other debtors

11,851

14,314

41,597

39,828

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts (see note 9)

36,500

33,477

Hire purchase contracts (see note 10)

-

5,809

Trade creditors

89,827

6,963

Taxation and social security

56,255

2,082

Other creditors

60,906

26,173

243,488

74,504

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans (see note 9)

54,182

84,390

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

54,182

84,390

9.

LOANS

Coronavirus Business Interruption Loan Scheme (CBILS)

10.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023

2022

£

£

Net obligations repayable:

Within one year

-

5,809

11.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

10,664

9,535

Deferred

tax

£

Balance at 1 April 2022

9,535

Charge to Income Statement during year

1,129

Balance at 31 March 2023

10,664

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

13.

RESERVES

Retained

earnings

£

At 1 April 2022

705,052

Profit for the year

132,728

Dividends

(23,000

)

At 31 March 2023

814,780

14.	RELATED PARTY DISCLOSURES

Transactions with entities under common and joint control:

1.The amounts due from related party at balance sheet date £10,845 (2022:£10,845). An interest free loan is repayable on demand and presented within the debtors' note.

2. The company purchased goods and services worth £110,445 (2022:£42,246) from related party. The supplier account balance at balance sheet date is £73,695 (2022:nil).