Caterbar Limited - Period Ending 2020-03-31

Caterbar Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Caterbar Limited

Company Information

Chairman

Mr H G Stephenson

Directors

Mrs P Birch Mr P A Lochead Mr K Ashby Mr S P Abbott Mr B J Mayling Mr P G Coles Mr A G Hampton Mr J J Spence Mrs A C McGhee Mr J MacPherson Mr T G English Mr J Gelling

Company secretary

Mr B J Mayling

Registered office Registration number

Kennerley Works 161 Buxton Road Stockport Cheshire SK2 6EQ 11242864

Auditors

Brown, Scott & Main Chartered Accountants 91 West Savile Terrace Edinburgh Lothian EH9 3DP

Caterbar Limited

(Registration number: 11242864)
Balance Sheet as at 31 March 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	5	1	1
Current assets
Debtors	6	255,845	926,022
Cash at bank and in hand		14,066	5,784
		269,911	931,806
Creditors: Amounts falling due within one year	7	(263,255)	(924,709)
Net current assets		6,656	7,097
Net assets		6,657	7,098
Capital and reserves
Capital reserve		6,907	6,907
Profit and loss account		(250)	191
Total equity		6,657	7,098

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 December 2020 and signed on its behalf by:
 

.........................................

Mr H G Stephenson
Chairman

Caterbar Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

1	General information

The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Kennerley Works
161 Buxton Road
Stockport
Cheshire
SK2 6EQ
UK

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The presentation currency is sterling.

Going concern

The financial statements have been prepared on a going concern basis. The directors are satisfied the company's members will continue to provide operational and short term funding support. The directors conclude the company will be able to meet its working capital requirements as they fall due and continue to operate for the foreseeable future.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 8 January 2021 was William Main CA, who signed for and on behalf of Brown, Scott & Main.

Revenue recognition

Turnover represents the total value, excluding value added tax, of retrospective discount and marketing support earned with reasonable certainty from members' suppliers on the collective value of members' purchases from those suppliers during the period. Turnover recognised in advance of members' suppliers being billed is included in other debtors.

Caterbar Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of each asset less its residual value over its estimated useful life as follows:

Asset class	Depreciation method and rate
Office equipment	25% per annum straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank that is readily convertible to a known amount of cash and is subject to an insignificant risk of change in value.

Trade debtors

Trade debtors comprises retrospective discount receivable at and invoiced prior to the year end.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Caterbar Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2019 - 1).

4

Taxation

	2020		2019
Current tax:	£		£
UK Corporation tax	1,492		1,474
	1,492		1,474

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2019	1,865	1,865
At 31 March 2020	1,865	1,865
Depreciation
At 1 April 2019	1,864	1,864
At 31 March 2020	1,864	1,864
Carrying amount
At 31 March 2020	1	1
At 31 March 2019	1	1

6

Debtors

	2020 £	2019 £
Trade debtors	4,568	7,645
Prepayments	2,253	1,715
Other debtors	249,024	916,662
	255,845	926,022

Caterbar Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

7

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Trade creditors	20,426	1,682
Taxation and social security	8,723	18,649
Accruals and deferred income	164,742	807,091
Other creditors	69,364	97,287
	263,255	924,709

8

Reserves

The capital reserve represents the profit and loss reserve of The Catering and Bar Equipment Supply Company Limited when its business and assets were transferred to this company on 1 April 2018.

9	Related party transactions

Summary of transactions with other related parties

 Trade debtors include balances totalling £1,680 (2019 nil) due from the company's members.

Trade creditors include balances totalling £12,287 (2019 nil) due to the company's members.

Accruals and deferred income includes retrospective discount and marketing support claimable by the company's members totalling £151,806 (2019 £804,041).

Other creditors include balances totalling £16,000 (2019 £42,152) due to the company's members. These balances are interest free and have no fixed repayment date. This total includes a membership deposit of £1,000 received from each member which is repayable should their membership end.