S.O. Catering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05317451 (England and Wales)

S.O. Catering Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2018

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

Mr S 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 2018 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 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

1 October 2018

FIXED ASSETS

Property, plant and equipment

4

655,104

678,041

CURRENT ASSETS

Inventories

5

1,050

2,153

Debtors

6

87,363

10,371

Cash at bank and in hand

72,258

100,852

160,671

113,376

CREDITORS

Amounts falling due within one year

7

151,165

175,474

NET CURRENT ASSETS/(LIABILITIES)

9,506

(62,098

)

TOTAL ASSETS LESS CURRENT LIABILITIES

664,610

615,943

CREDITORS

Amounts falling due after more than one year

8

-

(10,000

)

PROVISIONS FOR LIABILITIES

9

(4,824

)

(6,396

)

NET ASSETS

659,786

599,547

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

659,686

599,447

SHAREHOLDERS' FUNDS

659,786

599,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings for the year ended 31 March 2018 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 director on 1 October 2018 and were signed by:

Mr S 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 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 order.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

not provided

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.

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

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 5 (2017 - 10 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2017

629,712

148,363

47,979

826,054

Additions

-

2,204

-

2,204

Disposals

-

(123,470

)

-

(123,470

)

At 31 March 2018

629,712

27,097

47,979

704,788

DEPRECIATION

At 1 April 2017

-

110,645

37,368

148,013

Charge for year

-

2,889

1,591

4,480

Eliminated on disposal

-

(102,809

)

-

(102,809

)

At 31 March 2018

-

10,725

38,959

49,684

NET BOOK VALUE

At 31 March 2018

629,712

16,372

9,020

655,104

At 31 March 2017

629,712

37,718

10,611

678,041

5.	INVENTORIES

2018

2017

£

£

Stocks

1,050

2,153

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

18,053

9,783

Other debtors

69,310

588

87,363

10,371

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

381

1,097

Trade creditors

7,979

14,952

Taxation and social security

35,011

31,925

Other creditors

107,794

127,500

151,165

175,474

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

-

10,000

9.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

4,824

6,396

Deferred

tax

£

Balance at 1 April 2017

6,396

Credit to Abridged Statement of Comprehensive Income during year

(1,572

)

Balance at 31 March 2018

4,824

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 April 2017

599,447

Profit for the year

79,239

Dividends

(19,000

)

At 31 March 2018

659,686

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £9,500 (2017 - £10,000) were paid to the director .

Fivestar Catering Ltd

A company in which Mr S Huseyin is a shareholder and director.

1. Amount of £68,926 due from related party at balance sheet date.

2. Related party has charged £100,000 as management charges to S.O. Catering Ltd for the year.

3. Related party hired S.O. Catering Ltd vans and paid £28,790 as van rental charges for the year.

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr S & Mrs J Husseyin. Together they hold 70% of the issued share

capital of the company.