London Catering Services (SE) Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 05532527 (England and Wales)

London Catering Services (SE) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2016

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:

8 Sandgate Street

London

SE15 1LE

REGISTERED NUMBER:

05532527 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

237 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the directors and members 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 2016 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 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 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

237 Kennington Lane

London

SE11 5QU

29 December 2016

FIXED ASSETS

Property, plant and equipment

4

689,090

376,355

CURRENT ASSETS

Inventories

5

95,661

106,502

Debtors

6

250,362

135,792

Cash at bank and in hand

1,911

128,974

347,934

371,268

CREDITORS

Amounts falling due within one year

7

292,770

192,878

NET CURRENT ASSETS

55,164

178,390

TOTAL ASSETS LESS CURRENT LIABILITIES

744,254

554,745

CREDITORS

Amounts falling due after more than one year

8

(94,119

)

(30,765

)

PROVISIONS FOR LIABILITIES

10

(101,639

)

(5,812

)

NET ASSETS

548,496

518,168

CAPITAL AND RESERVES

Called up share capital

11

100,000

100,000

Retained earnings

12

448,496

418,168

SHAREHOLDERS' FUNDS

548,496

518,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2016 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 Board of Directors on 29 December 2016 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 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

-

not provided

Improvements to property

-

not provided

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated and reversed at the

balance sheet date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 April 2015

4,670

21,382

400,275

Additions

-

121,085

151,087

At 31 March 2016

4,670

142,467

551,362

DEPRECIATION

At 1 April 2015

-

-

255,164

Charge for year

934

14,247

74,050

At 31 March 2016

934

14,247

329,214

NET BOOK VALUE

At 31 March 2016

3,736

128,220

222,148

At 31 March 2015

4,670

21,382

145,111

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2015

31,261

580,981

1,038,569

Additions

42,537

192,068

506,777

At 31 March 2016

73,798

773,049

1,545,346

DEPRECIATION

At 1 April 2015

14,922

392,128

662,214

Charge for year

8,831

95,980

194,042

At 31 March 2016

23,753

488,108

856,256

NET BOOK VALUE

At 31 March 2016

50,045

284,941

689,090

At 31 March 2015

16,339

188,853

376,355

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2015

126,306

321,341

447,647

Additions

40,000

192,068

232,068

At 31 March 2016

166,306

513,409

679,715

DEPRECIATION

At 1 April 2015

72,566

219,299

291,865

Charge for year

23,435

73,527

96,962

At 31 March 2016

96,001

292,826

388,827

NET BOOK VALUE

At 31 March 2016

70,305

220,583

290,888

At 31 March 2015

53,740

102,042

155,782

5.	INVENTORIES

2016

2015

£

£

Stocks

95,661

106,502

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

22,420

8,450

Rent deposits

8,750

8,750

Site and other deposits

209,775

62,230

Other debtors

7,500

7,500

VAT

-

33,123

Prepayments

1,917

15,739

250,362

135,792

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts (see note 9)

4,558

-

Hire purchase contracts

106,955

53,642

Trade creditors

62,261

29,881

Tax

55,973

90,183

Social security and other taxes

27,188

7,847

VAT

23,586

-

Net wages control

2,053

1,365

Staff wage deductions

(254

)

272

Directors' current accounts

163

339

Accrued expenses

10,287

9,349

292,770

192,878

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

94,119

30,765

9.

LOANS

An analysis of the maturity of loans is given below:

2016

2015

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

4,558

-

10.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

101,639

5,812

Deferred

tax

£

Balance at 1 April 2015

5,812

Charge to Abridged Income Statement during year

95,827

Balance at 31 March 2016

101,639

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100,000

Ordinary

£1

100,000

100,000

12.

RESERVES

Retained

earnings

£

At 1 April 2015

418,168

Profit for the year

105,328

Dividends

(75,000

)

At 31 March 2016

448,496

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £75,000 (2015 - £230,000) were paid to the directors .

During the year company paid rent of £62,500 (2015: £50,000) to director Mr O Hussein for the use

of premises.

Company owes £163 in total to directors Mr O Hussein and Mrs S Hussein at balance sheet date.

14.	ULTIMATE CONTROLLING PARTY

The company is controlled by directors Mr O Hussein and Mrs S Hussein. Together, they hold 100%

of the company's issued share capital.