Registered number:
FOR THE YEAR ENDED 30 NOVEMBER 2022
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A TO Z CATERING SUPPLIES LIMITED
COMPANY INFORMATION
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A TO Z CATERING SUPPLIES LIMITED
CONTENTS
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A TO Z CATERING SUPPLIES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2022
The director presents his strategic report accompanying the financial statements for the year ended 30 November 2022.
The company’s principal activity consists of the wholesale distribution and cash and carry of foodstuffs and packaging to catering establishment’s i.e. restaurants, cafes, schools, retail outlets and private customers.
The company’s main strategy is to provide a complete service to both its usual business and to private customers it has gained through the pandemic when it launched a direct to customer service as the general public sought alternatives to the big supermarkets during the peak of the pandemic.
The company has always funded its operation from its own generated cash resources. Trade debtors are managed by credit and cash flow risk policies concerning the credit offered to customers as well as regular monitoring of amounts outstanding. Trade creditors are managed by ensuring that sufficient funds are available to meet payment terms.
Foreign currency risk Although most purchases are made in sterling, the company does make purchases in Euro’s which can fluctuate. The company manages the risk by agreeing forward contracts and agreeing to pay in sterling where possible. Future prospects The director expects the company to accustom itself to its customer needs and invest in new product range where permitted. This exercise will be financed through the use of retained profits.
Disclosure is not required regarding key financial and non-financial performance indicators for an understanding of the business.
This report was approved by the board and signed on its behalf.
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A TO Z CATERING SUPPLIES LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2022
The director presents his report and the financial statements for the year ended 30 November 2022.
The director is responsible for preparing the strategic report, the director's report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,161,677 (2021 - £606,283).
The director who served during the year was:
The director is hopeful of opening a number of cash and carry sites in the future. He hopes this will lead to a greater level of turnover and higher profitability for years to come.
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A TO Z CATERING SUPPLIES LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
There have been no significant events affecting the company since the year end.
The auditors, Barnes Roffe LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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A TO Z CATERING SUPPLIES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF A TO Z CATERING SUPPLIES LIMITED
We have audited the financial statements of A to Z Catering Supplies Limited (the 'company') for the year ended 30 November 2022, which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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A TO Z CATERING SUPPLIES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF A TO Z CATERING SUPPLIES LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the strategic report and the director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report.
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A TO Z CATERING SUPPLIES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF A TO Z CATERING SUPPLIES LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows: • The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; • We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the catering supply industry; • The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows: o Companies Act 2006; o FRS102; o Food Satefy and Hygiene regulation; o Goods Vehicle Operator's Licence Guidelines; o Data Protection Act 2018; o Health and Safety at Work Act; o Employment legislation; and o Tax legislation. • We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting legal correspondence and invoices; • Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by: • Making enquires of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud; • Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; • Reviewing the financial statements and testing the disclosures against supporting documentation; • Inspecting and testing journal entries to identify unusual or unexpected transactions; • Assessing whether judgement and assumptions made in determining significant accounting estimates, including accruals, bad debt provision and depreciation were indicative of management bias; and • Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business.
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A TO Z CATERING SUPPLIES LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF A TO Z CATERING SUPPLIES LIMITED (CONTINUED)
The areas that we identified as being susceptible to misstatement through fraud were:
• Management bias in regard to accounting estimates and judgements made; • Management override of controls; and • Posting of unusual journals or transactions Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants & Statutory Auditor
1st Floor
73-81 Southwark Bridge Road
SE1 0NQ
Date:
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A TO Z CATERING SUPPLIES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2022
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A TO Z CATERING SUPPLIES LIMITED
REGISTERED NUMBER: 03682173
BALANCE SHEET
AS AT 30 NOVEMBER 2022
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 11 to 24 form part of these financial statements.
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A TO Z CATERING SUPPLIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2021
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
A to Z Catering Supplies Limited is a company limited by shares and incorporated in England and Wales. The address of the registered office is Brother House 15a Cranford Way, Hornsey, London, N8 9DG. The principal activity of the company is that of a wholesale catering company.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of A to Z Brothers Limited as at 30 November 2021 and these financial statements may be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.
During the year and subsequently the company has continued to deal with the coronavirus pandemic and the associated measures put in place to deal with it. Whilst there have been some short term adverse impacts on the company, the company has been able to continue to trade and the director is confident that business plans are sufficiently robust to ensure the future of the company. Based on the above accounts have been prepared on the poing concern basis.
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
2.Accounting policies (continued)
Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
2.Accounting policies (continued)
No significant judgements have had to be made by the company in preparing these financial statements. b) Key accounting estimates and assumptions The company holds a significant amount of product stock and is subject to perishability as well as changing consumer demands and industry trends. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the condition of the stock and remaining life, as well as applying assumptions around anticipated saleability of stock. As per note 15 the value of stock as at 30 November 2022 is £1,184,506 (2021: £1,313,872) and this includes a stock provision of £420,613 (2021: £412,907). Furthermore, included within accruals is a dilapidation provision of £180,000 (2021: £180,000) to cover repairs, maintenance and decorations of the leased properties. This is in line with the terms of the rental contract.
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
11.Taxation (continued)
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
11.Taxation (continued)
There were no factors that may affect future tax charges.
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
13.Tangible fixed assets (continued)
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £83,213 (2021: £71,286).
The amount due to the scheme at 30 November 2022 was £Nil (2021: £Nil).
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A TO Z CATERING SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
The ultimate parent undertaking is A to Z Brothers Limited, a company registered in England and Wales.
There is no single ultimate controlling party.
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