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REGISTERED NUMBER: SC143435 (Scotland)





















Unaudited Financial Statements

For The Year Ended 30 June 2023

for

Excel Vending Limited

Excel Vending Limited (Registered number: SC143435)






Contents of the Financial Statements
For The Year Ended 30 June 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Excel Vending Limited

Company Information
For The Year Ended 30 June 2023







DIRECTORS: Mrs J MacDonald
Mr J MacDonald



REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH



REGISTERED NUMBER: SC143435 (Scotland)



ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH



BANKERS: Clydesdale Bank
The Olympia
East Kilbride
G74 1PG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Excel Vending Limited

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 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 Excel Vending Limited for the year ended 30 June 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Excel Vending 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 Excel Vending Limited and state those matters that we have agreed to state to the Board of Directors of Excel Vending Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Excel Vending 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 Excel Vending Limited. You consider that Excel Vending 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 Excel Vending 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.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


21 November 2023

Excel Vending Limited (Registered number: SC143435)

Statement of Financial Position
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 609,912 416,300
609,912 416,300

CURRENT ASSETS
Stocks 296,299 174,069
Debtors 6 209,032 193,615
Cash at bank and in hand 1,197,741 936,600
1,703,072 1,304,284
CREDITORS
Amounts falling due within one year 7 989,334 827,707
NET CURRENT ASSETS 713,738 476,577
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,323,650

892,877

CREDITORS
Amounts falling due after more than one
year

8

(201,081

)

(42,200

)

PROVISIONS FOR LIABILITIES 10 (100,138 ) (57,974 )
NET ASSETS 1,022,431 792,703

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 1,002,431 772,703
SHAREHOLDERS' FUNDS 1,022,431 792,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

Excel Vending Limited (Registered number: SC143435)

Statement of Financial Position - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





Mrs J MacDonald - Director


Excel Vending Limited (Registered number: SC143435)

Notes to the Financial Statements
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

Excel Vending Limited is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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
Telemetry hardware - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% 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.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.


Excel Vending Limited (Registered number: SC143435)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Revenue recognition - commissions and royalties
Commission and Royalties are recognised by the company on a cash basis, as these amounts are not guaranteed as income until paid to the company. Value added tax is accounted on the date at which the income has been agreed or the cash received, whichever is earlier.

Provisions
A specific provision is made against debts identified as doubtful by the directors. This is reviewed and updated regularly and the debts are written off when required.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2022 - 34 ) .

Excel Vending Limited (Registered number: SC143435)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 62,343
AMORTISATION
At 1 July 2022
and 30 June 2023 62,343
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Short Telemetry Plant and
leasehold hardware machinery
£    £    £   
COST
At 1 July 2022 9,772 253,956 1,195,468
Additions - 63,564 83,718
Disposals - (50 ) (22,733 )
At 30 June 2023 9,772 317,470 1,256,453
DEPRECIATION
At 1 July 2022 2,328 123,688 1,058,827
Charge for year 3,041 55,199 72,495
Eliminated on disposal - - (18,256 )
At 30 June 2023 5,369 178,887 1,113,066
NET BOOK VALUE
At 30 June 2023 4,403 138,583 143,387
At 30 June 2022 7,444 130,268 136,641

Excel Vending Limited (Registered number: SC143435)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 22,964 385,213 87,565 1,954,938
Additions 6,283 268,378 5,962 427,905
Disposals - (42,702 ) - (65,485 )
At 30 June 2023 29,247 610,889 93,527 2,317,358
DEPRECIATION
At 1 July 2022 13,489 272,151 68,155 1,538,638
Charge for year 3,871 81,392 11,597 227,595
Eliminated on disposal - (40,531 ) - (58,787 )
At 30 June 2023 17,360 313,012 79,752 1,707,446
NET BOOK VALUE
At 30 June 2023 11,887 297,877 13,775 609,912
At 30 June 2022 9,475 113,062 19,410 416,300

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022 239,684
Additions 260,819
Disposals (14,224 )
At 30 June 2023 486,279
DEPRECIATION
At 1 July 2022 141,080
Charge for year 69,560
Eliminated on disposal (14,224 )
At 30 June 2023 196,416
NET BOOK VALUE
At 30 June 2023 289,863
At 30 June 2022 98,604

Excel Vending Limited (Registered number: SC143435)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 158,956 149,666
Other debtors 50,076 43,949
209,032 193,615

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 67,123 27,271
Trade creditors 334,657 321,038
Taxation and social security 176,359 168,507
Other creditors 411,195 310,891
989,334 827,707

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 201,081 42,200

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Hire purchase contracts 268,204 69,471

10. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 100,138 57,974

Deferred
tax
£   
Balance at 1 July 2022 57,974
Provided during year 42,164
Balance at 30 June 2023 100,138

Excel Vending Limited (Registered number: SC143435)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2023

11. OTHER FINANCIAL COMMITMENTS

The company has operating leases for maintenance of vehicles as follows:

30.6.2330.6.22
££
due within 1 year4,05019,381
due 2-5 years24,6599,691
28,70929,072