Silverfin false false 30/04/2024 01/05/2023 30/04/2024 G E Goldstein 18/03/2020 S N Goldstein 02/01/2020 06 November 2024 The principal activity of the Company during the financial year was retail and management of vending machines. 12383412 2024-04-30 12383412 bus:Director1 2024-04-30 12383412 bus:Director2 2024-04-30 12383412 2023-04-30 12383412 core:CurrentFinancialInstruments 2024-04-30 12383412 core:CurrentFinancialInstruments 2023-04-30 12383412 core:ShareCapital 2024-04-30 12383412 core:ShareCapital 2023-04-30 12383412 core:OtherCapitalReserve 2024-04-30 12383412 core:OtherCapitalReserve 2023-04-30 12383412 core:RetainedEarningsAccumulatedLosses 2024-04-30 12383412 core:RetainedEarningsAccumulatedLosses 2023-04-30 12383412 core:OtherResidualIntangibleAssets 2023-04-30 12383412 core:OtherResidualIntangibleAssets 2024-04-30 12383412 core:OtherPropertyPlantEquipment 2023-04-30 12383412 core:OtherPropertyPlantEquipment 2024-04-30 12383412 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-04-30 12383412 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 12383412 bus:OrdinaryShareClass1 2024-04-30 12383412 2023-05-01 2024-04-30 12383412 bus:FilletedAccounts 2023-05-01 2024-04-30 12383412 bus:SmallEntities 2023-05-01 2024-04-30 12383412 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 12383412 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12383412 bus:Director1 2023-05-01 2024-04-30 12383412 bus:Director2 2023-05-01 2024-04-30 12383412 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-05-01 2024-04-30 12383412 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-05-01 2024-04-30 12383412 2022-05-01 2023-04-30 12383412 core:OtherResidualIntangibleAssets 2023-05-01 2024-04-30 12383412 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 12383412 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 12383412 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12383412 (England and Wales)

WORLD OF VENDING LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

WORLD OF VENDING LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

WORLD OF VENDING LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
WORLD OF VENDING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 4,271 0
Tangible assets 4 1,609 1,735
5,880 1,735
Current assets
Stocks 5 42,702 43,210
Debtors 6 15,224 13,752
Cash at bank and in hand 1,628 3,085
59,554 60,047
Creditors: amounts falling due within one year 7 ( 63,424) ( 22,215)
Net current (liabilities)/assets (3,870) 37,832
Total assets less current liabilities 2,010 39,567
Net assets 2,010 39,567
Capital and reserves
Called-up share capital 8 100 100
Other reserves 0 31,000
Profit and loss account 1,910 8,467
Total shareholders' funds 2,010 39,567

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of World of Vending Limited (registered number: 12383412) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S N Goldstein
Director

06 November 2024

WORLD OF VENDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
WORLD OF VENDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

World of Vending Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 May 2023 0 0
Additions 5,302 5,302
At 30 April 2024 5,302 5,302
Accumulated amortisation
At 01 May 2023 0 0
Charge for the financial year 1,031 1,031
At 30 April 2024 1,031 1,031
Net book value
At 30 April 2024 4,271 4,271
At 30 April 2023 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 2,098 2,098
Additions 272 272
At 30 April 2024 2,370 2,370
Accumulated depreciation
At 01 May 2023 363 363
Charge for the financial year 398 398
At 30 April 2024 761 761
Net book value
At 30 April 2024 1,609 1,609
At 30 April 2023 1,735 1,735

5. Stocks

2024 2023
£ £
Stocks 42,702 43,210

6. Debtors

2024 2023
£ £
Trade debtors 0 7,027
Amounts owed by related parties 10,262 6,459
Other debtors 4,962 266
15,224 13,752

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 6,201 390
Amounts owed to related parties 44,541 2,476
Taxation and social security 6,236 7,196
Other creditors 6,446 12,153
63,424 22,215

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Other related party transactions

2024 2023
£ £
Amount owed from connected companies 10,262 6,459
Amount owed to connected companies 44,541 2,476