2022-12-012023-11-302023-11-30false01797458United Distributing Company (Coin Machine Sales) Limited(The)2024-08-12iso4217:GBPxbrli:pure017974582022-12-01017974582023-11-30017974582022-12-012023-11-30017974582021-12-01017974582022-11-30017974582021-12-012022-11-3001797458bus:SmallEntities2022-12-012023-11-3001797458bus:AuditExempt-NoAccountantsReport2022-12-012023-11-3001797458bus:FullAccounts2022-12-012023-11-3001797458bus:PrivateLimitedCompanyLtd2022-12-012023-11-3001797458core:WithinOneYear2023-11-3001797458core:AfterOneYear2023-11-3001797458core:WithinOneYear2022-11-3001797458core:AfterOneYear2022-11-3001797458core:ShareCapital2023-11-3001797458core:SharePremium2023-11-3001797458core:RevaluationReserve2023-11-3001797458core:OtherReservesSubtotal2023-11-3001797458core:RetainedEarningsAccumulatedLosses2023-11-3001797458core:ShareCapital2022-11-3001797458core:SharePremium2022-11-3001797458core:RevaluationReserve2022-11-3001797458core:OtherReservesSubtotal2022-11-3001797458core:RetainedEarningsAccumulatedLosses2022-11-3001797458core:LandBuildings2023-11-3001797458core:PlantMachinery2023-11-3001797458core:Vehicles2023-11-3001797458core:FurnitureFittings2023-11-3001797458core:OfficeEquipment2023-11-3001797458core:NetGoodwill2023-11-3001797458core:IntangibleAssetsOtherThanGoodwill2023-11-3001797458core:ListedExchangeTraded2023-11-3001797458core:UnlistedNon-exchangeTraded2023-11-3001797458core:LandBuildings2022-11-3001797458core:PlantMachinery2022-11-3001797458core:Vehicles2022-11-3001797458core:FurnitureFittings2022-11-3001797458core:OfficeEquipment2022-11-3001797458core:NetGoodwill2022-11-3001797458core:IntangibleAssetsOtherThanGoodwill2022-11-3001797458core:ListedExchangeTraded2022-11-3001797458core:UnlistedNon-exchangeTraded2022-11-3001797458core:LandBuildings2022-12-012023-11-3001797458core:PlantMachinery2022-12-012023-11-3001797458core:Vehicles2022-12-012023-11-3001797458core:FurnitureFittings2022-12-012023-11-3001797458core:OfficeEquipment2022-12-012023-11-3001797458core:NetGoodwill2022-12-012023-11-3001797458core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3001797458core:ListedExchangeTraded2022-12-012023-11-3001797458core:UnlistedNon-exchangeTraded2022-12-012023-11-3001797458core:MoreThanFiveYears2022-12-012023-11-3001797458core:Non-currentFinancialInstruments2023-11-3001797458core:Non-currentFinancialInstruments2022-11-3001797458dpl:CostSales2022-12-012023-11-3001797458dpl:DistributionCosts2022-12-012023-11-3001797458core:LandBuildings2022-12-012023-11-3001797458core:PlantMachinery2022-12-012023-11-3001797458core:Vehicles2022-12-012023-11-3001797458core:FurnitureFittings2022-12-012023-11-3001797458core:OfficeEquipment2022-12-012023-11-3001797458dpl:AdministrativeExpenses2022-12-012023-11-3001797458core:NetGoodwill2022-12-012023-11-3001797458core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3001797458dpl:GroupUndertakings2022-12-012023-11-3001797458dpl:ParticipatingInterests2022-12-012023-11-3001797458dpl:GroupUndertakingscore:ListedExchangeTraded2022-12-012023-11-3001797458core:ListedExchangeTraded2022-12-012023-11-3001797458dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-12-012023-11-3001797458core:UnlistedNon-exchangeTraded2022-12-012023-11-3001797458dpl:CostSales2021-12-012022-11-3001797458dpl:DistributionCosts2021-12-012022-11-3001797458core:LandBuildings2021-12-012022-11-3001797458core:PlantMachinery2021-12-012022-11-3001797458core:Vehicles2021-12-012022-11-3001797458core:FurnitureFittings2021-12-012022-11-3001797458core:OfficeEquipment2021-12-012022-11-3001797458dpl:AdministrativeExpenses2021-12-012022-11-3001797458core:NetGoodwill2021-12-012022-11-3001797458core:IntangibleAssetsOtherThanGoodwill2021-12-012022-11-3001797458dpl:GroupUndertakings2021-12-012022-11-3001797458dpl:ParticipatingInterests2021-12-012022-11-3001797458dpl:GroupUndertakingscore:ListedExchangeTraded2021-12-012022-11-3001797458core:ListedExchangeTraded2021-12-012022-11-3001797458dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-12-012022-11-3001797458core:UnlistedNon-exchangeTraded2021-12-012022-11-3001797458core:NetGoodwill2023-11-3001797458core:IntangibleAssetsOtherThanGoodwill2023-11-3001797458core:LandBuildings2023-11-3001797458core:PlantMachinery2023-11-3001797458core:Vehicles2023-11-3001797458core:FurnitureFittings2023-11-3001797458core:OfficeEquipment2023-11-3001797458core:AfterOneYear2023-11-3001797458core:WithinOneYear2023-11-3001797458core:ListedExchangeTraded2023-11-3001797458core:UnlistedNon-exchangeTraded2023-11-3001797458core:ShareCapital2023-11-3001797458core:SharePremium2023-11-3001797458core:RevaluationReserve2023-11-3001797458core:OtherReservesSubtotal2023-11-3001797458core:RetainedEarningsAccumulatedLosses2023-11-3001797458core:NetGoodwill2022-11-3001797458core:IntangibleAssetsOtherThanGoodwill2022-11-3001797458core:LandBuildings2022-11-3001797458core:PlantMachinery2022-11-3001797458core:Vehicles2022-11-3001797458core:FurnitureFittings2022-11-3001797458core:OfficeEquipment2022-11-3001797458core:AfterOneYear2022-11-3001797458core:WithinOneYear2022-11-3001797458core:Liste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United Distributing Company (Coin Machine Sales) Limited(The)

Registered Number
01797458
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

United Distributing Company (Coin Machine Sales) Limited(The)
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Mrs L Horwood
Mr M Horwood

Registered Address

10 Western Road
Romford
RM1 3JT

Registered Number

01797458 (England and Wales)
United Distributing Company (Coin Machine Sales) Limited(The)
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets33,025,5873,029,687
Investments422,44818,311
3,048,0353,047,998
Current assets
Stocks52,746,0672,169,012
Debtors61,028,6661,690,804
Cash at bank and on hand1,490,6851,552,426
5,265,4185,412,242
Creditors amounts falling due within one year7(612,799)(1,001,241)
Net current assets (liabilities)4,652,6194,411,001
Total assets less current liabilities7,700,6547,458,999
Creditors amounts falling due after one year8(833,621)(1,050,289)
Provisions for liabilities9(622,531)(473,115)
Net assets6,244,5025,935,595
Capital and reserves
Called up share capital5,0005,000
Revaluation reserve1,740,1801,874,702
Profit and loss account4,499,3224,055,893
Shareholders' funds6,244,5025,935,595
The financial statements were approved and authorised for issue by the Board of Directors on 12 August 2024, and are signed on its behalf by:
Mr M Horwood
Director
Registered Company No. 01797458
United Distributing Company (Coin Machine Sales) Limited(The)
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Operating leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Land and buildings freehold Remeasurement to fair value

Reducing balance (%)
Fixtures and fittings10
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20232022
Average number of employees during the year2221
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 December 222,924,664382,0523,306,716
Additions-16,36616,366
Disposals-(2,385)(2,385)
At 30 November 232,924,664396,0333,320,697
Depreciation and impairment
At 01 December 2274,664202,365277,029
Charge for year-19,50919,509
On disposals-(1,428)(1,428)
At 30 November 2374,664220,446295,110
Net book value
At 30 November 232,850,000175,5873,025,587
At 30 November 222,850,000179,6873,029,687
The fair value of the property at 30 November 2023 has been arrived at on the basis of a valuation carried out by Mr M Horwood, a director of the company who is not a professional qualified valuer. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties. The historical cost of the freehold land and buildings is £620,075.
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 December 2218,31118,311
Additions384384
Revaluations3,7533,753
At 30 November 2322,44822,448
Net book value
At 30 November 2322,44822,448
At 30 November 2218,31118,311

Notes

1Other investments other than loans
5.Stocks

2023

2022

££
Finished goods2,746,0672,169,012
Total2,746,0672,169,012
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables813,0901,546,729
Other debtors35,0409,352
Prepayments and accrued income180,536134,723
Total1,028,6661,690,804
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables395,654386,426
Bank borrowings and overdrafts107,41396,449
Taxation and social security94,598485,005
Other creditors-18,649
Accrued liabilities and deferred income15,13414,712
Total612,7991,001,241
The bank overdraft and bank loan due within and after more than one year are secured by a charge over the company's freehold properties at 181, 182a and 182b Park Avenue London, NW10 7XH, in charges registered by Barclays Bank PLC on 25 March 1986, 5 April 1988 and 29 June 2005 respectively. Barclays Bank PLC also hold a fixed and floating debenture over all of the company's assets dated 26 February 2010.
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts833,6211,050,289
Total833,6211,050,289
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)622,531473,115
Total622,531473,115
10.Other commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows: 2023 £8,285 (2022 £15,362).
11.Directors advances, credits and guarantees
At the end of the year the company owed the directors £nil (2022 £92) by way of their directors current accounts.