GWF Catering Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07905298 (England and Wales)

Financial Statements for the Year Ended 31 January 2017

for

GWF Catering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J P Fay

REGISTERED OFFICE:

116 Duke Street

Liverpool

Merseyside

L1 5JW

REGISTERED NUMBER:

07905298 (England and Wales)

ACCOUNTANTS:

Cobham Murphy Limited

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Tangible assets

4

21,456

24,295

CURRENT ASSETS

Stocks

20,200

8,130

Debtors

5

5,000

11,187

Cash at bank

-

366

25,200

19,683

CREDITORS

Amounts falling due within one year

6

40,385

34,307

NET CURRENT LIABILITIES

(15,185

)

(14,624

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,271

9,671

CREDITORS

Amounts falling due after more than one year

7

1,031

3,506

NET ASSETS

5,240

6,165

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,140

6,065

SHAREHOLDERS' FUNDS

5,240

6,165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 on 19 October 2017 and were signed by:

J P Fay - Director

1.	STATUTORY INFORMATION

GWF 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.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2016

27,788

5,065

2,128

34,981

Additions

1,169

-

-

1,169

At 31 January 2017

28,957

5,065

2,128

36,150

DEPRECIATION

At 1 February 2016

7,781

1,055

1,850

10,686

Charge for year

3,421

528

59

4,008

At 31 January 2017

11,202

1,583

1,909

14,694

NET BOOK VALUE

At 31 January 2017

17,755

3,482

219

21,456

At 31 January 2016

20,007

4,010

278

24,295

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

Motor

vehicles

£

COST

At 1 February 2016

and 31 January 2017

5,065

DEPRECIATION

At 1 February 2016

and 31 January 2017

1,055

NET BOOK VALUE

At 31 January 2017

4,010

At 31 January 2016

4,010

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Other debtors

5,000

11,187

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans and overdrafts

3,934

2,475

Hire purchase contracts

910

2,276

Trade creditors

10,387

12,769

Taxation and social security

20,755

14,077

Other creditors

4,399

2,710

40,385

34,307

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans

1,031

3,506

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J P Fay.