London Catering Services (SE) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05532527 (England and Wales)

London Catering Services (SE) Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2017

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

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 2017 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

31 January 2018

FIXED ASSETS

Property, plant and equipment

4

648,078

689,090

CURRENT ASSETS

Inventories

5

72,435

95,661

Debtors

6

310,200

250,362

Cash in hand

11,689

1,911

394,324

347,934

CREDITORS

Amounts falling due within one year

7

392,208

292,770

NET CURRENT ASSETS

2,116

55,164

TOTAL ASSETS LESS CURRENT LIABILITIES

650,194

744,254

CREDITORS

Amounts falling due after more than one year

8

(17,928

)

(94,119

)

PROVISIONS FOR LIABILITIES

10

(106,260

)

(101,639

)

NET ASSETS

526,006

548,496

CAPITAL AND RESERVES

Called up share capital

11

100,000

100,000

Retained earnings

12

426,006

448,496

SHAREHOLDERS' FUNDS

526,006

548,496

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 Statement of Income and Retained Earnings for the year ended 31 March 2017 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 on 31 January 2018 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

-

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.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 13 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 April 2016

4,670

142,467

551,362

Additions

-

-

155,493

At 31 March 2017

4,670

142,467

706,855

DEPRECIATION

At 1 April 2016

934

14,247

329,214

Charge for year

934

14,246

94,410

Eliminated on disposal

-

-

-

At 31 March 2017

1,868

28,493

423,624

NET BOOK VALUE

At 31 March 2017

2,802

113,974

283,231

At 31 March 2016

3,736

128,220

222,148

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2016

73,798

773,049

1,545,346

Additions

-

-

155,493

Disposals

-

(108,849

)

(108,849

)

At 31 March 2017

73,798

664,200

1,591,990

DEPRECIATION

At 1 April 2016

23,753

488,108

856,256

Charge for year

7,507

68,511

185,608

Eliminated on disposal

-

(97,952

)

(97,952

)

At 31 March 2017

31,260

458,667

943,912

NET BOOK VALUE

At 31 March 2017

42,538

205,533

648,078

At 31 March 2016

50,045

284,941

689,090

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 2016

166,306

513,409

679,715

Additions

122,000

-

122,000

Disposals

-

(108,849

)

(108,849

)

At 31 March 2017

288,306

404,560

692,866

DEPRECIATION

At 1 April 2016

96,001

292,826

388,827

Charge for year

48,076

52,422

100,498

Eliminated on disposal

-

(97,952

)

(97,952

)

At 31 March 2017

144,077

247,296

391,373

NET BOOK VALUE

At 31 March 2017

144,229

157,264

301,493

At 31 March 2016

70,305

220,583

290,888

5.	INVENTORIES

2017

2016

£

£

Stocks

72,435

95,661

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

267,663

240,945

Other debtors

42,537

9,417

310,200

250,362

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts (see note 9)

49,450

4,558

Hire purchase contracts

104,157

106,955

Trade creditors

189,785

62,261

Taxation and social security

40,866

106,747

Other creditors

7,950

12,249

392,208

292,770

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

17,928

94,119

9.

LOANS

An analysis of the maturity of loans is given below:

2017

2016

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

49,450

4,558

10.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

106,260

101,639

Deferred

tax

£

Balance at 1 April 2016

101,639

Charge to Abridged Income Statement during year

4,621

Balance at 31 March 2017

106,260

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100,000

Ordinary

£1

100,000

100,000

12.

RESERVES

Retained

earnings

£

At 1 April 2016

448,496

Profit for the year

93,510

Dividends

(116,000

)

At 31 March 2017

426,006

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £116,000 (2016 - £75,000) were paid to the directors .

During the year company paid rent of £62,500 (2016: £62,500) to director Mr O Hussein for the use of

premises.

Company owes £952 in total to directors Mr O Hussein and Mrs S Hussein at balance sheet date.

(included in the Other creditors -Note 10)

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.