London Catering Services (SE) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05532527 (England and Wales)

London Catering Services (SE) 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

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 Abridged 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 2023 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 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 profit 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

23 February 2024

FIXED ASSETS

Property, plant and equipment

4

449,602

588,862

CURRENT ASSETS

Inventories

5

66,123

94,367

Debtors

6

745,374

1,058,907

Cash at bank and in hand

467,037

44,597

1,278,534

1,197,871

CREDITORS

Amounts falling due within one year

7

1,572,403

2,102,494

NET CURRENT LIABILITIES

(293,869

)

(904,623

)

TOTAL ASSETS LESS CURRENT LIABILITIES

155,733

(315,761

)

CREDITORS

Amounts falling due after more than one year

8

(141,667

)

(263,138

)

PROVISIONS FOR LIABILITIES

9

(78,608

)

(111,884

)

NET LIABILITIES

(64,542

)

(690,783

)

CAPITAL AND RESERVES

Called up share capital

10

100,000

100,000

Retained earnings

11

(164,542

)

(790,783

)

SHAREHOLDERS' FUNDS

(64,542

)

(690,783

)

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 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings 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 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 22 February 2024 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 9 (2022 - 8 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 April 2022

13,876

142,467

1,027,005

Additions

-

-

7,353

At 31 March 2023

13,876

142,467

1,034,358

DEPRECIATION

At 1 April 2022

5,575

99,727

852,658

Charge for year

921

14,246

45,425

At 31 March 2023

6,496

113,973

898,083

NET BOOK VALUE

At 31 March 2023

7,380

28,494

136,275

At 31 March 2022

8,301

42,740

174,347

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2022

93,047

1,168,420

2,444,815

Additions

2,241

-

9,594

At 31 March 2023

95,288

1,168,420

2,454,409

DEPRECIATION

At 1 April 2022

63,622

834,371

1,855,953

Charge for year

4,750

83,512

148,854

At 31 March 2023

68,372

917,883

2,004,807

NET BOOK VALUE

At 31 March 2023

26,916

250,537

449,602

At 31 March 2022

29,425

334,049

588,862

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

Motor

vehicles

£

COST

At 1 April 2022

511,318

Transfer to ownership

(401,800

)

At 31 March 2023

109,518

DEPRECIATION

At 1 April 2022

294,473

Charge for year

68,111

Transfer to ownership

(246,559

)

At 31 March 2023

116,025

NET BOOK VALUE

At 31 March 2023

(6,507

)

At 31 March 2022

216,845

5.	INVENTORIES

2023

2022

£

£

Stocks

66,123

94,367

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

494,784

953,429

Other debtors

250,590

105,478

745,374

1,058,907

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

50,000

96,188

Hire purchase contracts

2,571

96,096

Trade creditors

722,288

1,298,986

Taxation and social security

227,165

6,829

Other creditors

570,379

604,395

1,572,403

2,102,494

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

141,667

260,249

Hire purchase contracts

-

2,889

141,667

263,138

9.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

78,608

111,884

Deferred

tax

£

Balance at 1 April 2022

111,884

Provided during year

(33,276

)

DT on capital allowances

Balance at 31 March 2023

78,608

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100,000

Ordinary

£1

100,000

100,000

11.

RESERVES

Retained

earnings

£

At 1 April 2022

(790,783

)

Profit for the year

626,241

At 31 March 2023

(164,542

)

12.	RELATED PARTY DISCLOSURES

Transactions with member of key management personnel:

1. Company owe £931 (2022 - £448,654) 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 £8,951 (2022: -12,000 debtor) was owed to the related party. The loan is interest free, have no fixed date of repayment and is presented within creditor; amounts falling due within one year.

2.At the balance sheet date an amount of £353,254 (2022: £142,000) was owed to the related party. The loan is interest free, have no fixed date of repayment and is presented within creditors: amounts falling due within one year .Also included in the P & L rent payable is rent of £68,333 (2022 - £60,000) for a renting a property from them.