Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30truesale, servicing and operating of vending machinestrue222023-05-01false22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04706996 2023-05-01 2024-04-30 04706996 2022-05-01 2023-04-30 04706996 2024-04-30 04706996 2023-04-30 04706996 c:Director1 2023-05-01 2024-04-30 04706996 d:PlantMachinery 2023-05-01 2024-04-30 04706996 d:PlantMachinery 2024-04-30 04706996 d:PlantMachinery 2023-04-30 04706996 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04706996 d:MotorVehicles 2023-05-01 2024-04-30 04706996 d:MotorVehicles 2024-04-30 04706996 d:MotorVehicles 2023-04-30 04706996 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04706996 d:FurnitureFittings 2023-05-01 2024-04-30 04706996 d:FurnitureFittings 2024-04-30 04706996 d:FurnitureFittings 2023-04-30 04706996 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04706996 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04706996 d:Goodwill 2024-04-30 04706996 d:Goodwill 2023-04-30 04706996 d:CurrentFinancialInstruments 2024-04-30 04706996 d:CurrentFinancialInstruments 2023-04-30 04706996 d:Non-currentFinancialInstruments 2024-04-30 04706996 d:Non-currentFinancialInstruments 2023-04-30 04706996 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 04706996 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 04706996 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 04706996 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 04706996 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 04706996 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 04706996 d:ShareCapital 2024-04-30 04706996 d:ShareCapital 2023-04-30 04706996 d:RetainedEarningsAccumulatedLosses 2024-04-30 04706996 d:RetainedEarningsAccumulatedLosses 2023-04-30 04706996 c:FRS102 2023-05-01 2024-04-30 04706996 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04706996 c:FullAccounts 2023-05-01 2024-04-30 04706996 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04706996 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 04706996 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 04706996 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 04706996 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 04706996 2 2023-05-01 2024-04-30 04706996 6 2023-05-01 2024-04-30 04706996 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-04-30 04706996 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-30 04706996 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-04-30 04706996 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-30 04706996 d:LeasedAssetsHeldAsLessee 2024-04-30 04706996 d:LeasedAssetsHeldAsLessee 2023-04-30 04706996 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 04706996









REVIVE VENDING LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
REVIVE VENDING LTD
REGISTERED NUMBER: 04706996

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
330,618
414,166

Investments
 6 
1
1

  
330,619
414,167

Current assets
  

Stocks
 7 
260,744
296,747

Debtors: amounts falling due within one year
 8 
745,258
767,480

Cash at bank and in hand
 9 
11,439
19,427

  
1,017,441
1,083,654

Creditors: amounts falling due within one year
 10 
(1,035,045)
(962,727)

Net current (liabilities)/assets
  
 
 
(17,604)
 
 
120,927

Total assets less current liabilities
  
313,015
535,094

Creditors: amounts falling due after more than one year
 11 
(148,989)
(300,967)

  

Net assets
  
164,026
234,127


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
163,926
234,027

  
164,026
234,127


Page 1

 
REVIVE VENDING LTD
REGISTERED NUMBER: 04706996
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 January 2025.




................................................
Timothy Varney
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
REVIVE VENDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The Company was incorporated in England and Wales and is a private company limited by share capital. The principal activity of the Company is that of the sale, servicing and operating of vending machines.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
REVIVE VENDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


Page 4

 
REVIVE VENDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Plant and machinery
-
10 years straight line
Motor vehicles
-
25% reducing balance
Fixtures, fittings & equipment
-
15% reducing balance

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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Stocks

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. Work in progress and finished goods include labour and attributable overheads.

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.

 
2.13

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.

Page 5

 
REVIVE VENDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term 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.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2023 - 22).


4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
333,709



At 30 April 2024

333,709



Amortisation


At 1 May 2023
333,709



At 30 April 2024

333,709



Net book value



At 30 April 2024
-



At 30 April 2023
-


Page 6

 
REVIVE VENDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
           4.Intangible assets (continued)



5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
1,055,575
54,624
171,048
1,281,247


Additions
20,348
-
774
21,122


Disposals
(49,019)
-
(2,065)
(51,084)



At 30 April 2024

1,026,904
54,624
169,757
1,251,285



Depreciation


At 1 May 2023
717,295
13,574
136,212
867,081


Charge for the year on owned assets
76,788
10,263
5,124
92,175


Disposals
(36,633)
-
(1,956)
(38,589)



At 30 April 2024

757,450
23,837
139,380
920,667



Net book value



At 30 April 2024
269,454
30,787
30,377
330,618



At 30 April 2023
338,280
41,050
34,836
414,166

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
16,492
24,612

Motor vehicles
26,623
34,964

43,115
59,576

Page 7

 
REVIVE VENDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 May 2023
1



At 30 April 2024
1





7.


Stocks

2024
2023
£
£

Raw materials and consumables
260,744
296,747

260,744
296,747



8.


Debtors

2024
2023
£
£


Trade debtors
78,247
98,720

Other debtors
526,260
548,541

Prepayments and accrued income
140,751
120,219

745,258
767,480



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
11,439
19,427

Less: bank overdrafts
(230,477)
(277,394)

(219,038)
(257,967)


Page 8

 
REVIVE VENDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
230,477
277,394

Bank loans
147,122
129,242

Trade creditors
235,197
301,686

Corporation tax
30,580
20,937

Other taxation and social security
154,330
102,802

Obligations under finance lease and hire purchase contracts
4,336
61,405

Other creditors
216,972
51,061

Accruals and deferred income
16,031
18,200

1,035,045
962,727




The following liabilities were secured:

2024
2023
£
£



Bank overdraft
230,477
277,393

Bank loans
147,122
129,242

Obligations under finance lease and hire purchase contracts
4,336
61,407

381,935
468,042

Details of security provided:

The bank overdraft and bank loans are secured by a floating charge on all the undertaking of the Company and all its property whatsoever or wheresoever both present and future. 
Obligations under finance lease and hire purchase contracts are secured on the relevant assets. 

Page 9

 
REVIVE VENDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
130,968
243,510

Net obligations under finance leases and hire purchase contracts
18,021
57,457

148,989
300,967


The following liabilities were secured:

2024
2023
£
£



Bank loans
130,968
243,510

Obligations under finance lease and hire purchase contracts
18,021
57,457

148,989
300,967

Details of security provided:

The bank loans are secured by a floating charge on all the undertaking of the Company and all its property whatsoever or wheresoever both present and future. 
Obligations under finance lease and hire purchase contracts are secured on the relevant assets. 


12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
147,122
129,242

Amounts falling due 1-2 years

Bank loans
130,968
243,510



278,090
372,752


Page 10

 
REVIVE VENDING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

13.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
4,336
61,405

Between 1-5 years
18,021
57,457

22,357
118,862


14.


Pension commitments

The Company operates a defined contributions 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 £20,306 (2023 - £15,992). Contributions totalling £2,268 (2023 - £4,142) were payable to the fund at the balance sheet date and are included in creditors.


15.


Related party transactions

EdUKaid is a charity in which the director, Timothy Varney, is a trustee. 
During the year transactions totalling £11,161 (2023 - £2,692) were made with this charity. At the end of the year £1,706 (2023 - £133 owed to) was owed by EdUKaid.
Giant Peach Design Limited is a company in which the director, Timothy Varney, is a shareholder. 
During the year transactions totalling £1,032 (2023 - £860) were made with this company. At the year end £72 (2023 - £72) was owed to Giant Peach Design Limited. 
Doozy Limited is a company in which the director, Timothy Varney, is a director and shareholder.
During the year transactions totalling £192 (2023 - £nil) were made with this company. At the end of the year £357,393 (2023 - £357,201) was owed by Doozy Limited. 
Honest Holidays Limited is a company in which the director, Timothy Varney, is a director and shareholder, and the director, Sarah Varney, is a director. During the year transactions totalling £nil (2023 - £9,500) were made with this company. At the end of the year £168,867 (2023 - £168,867) was owed by Honest Holidays Limited.


16.


Controlling party

The Company is controlled by the directors, Timothy Varney and Sarah Varney, by virtue of their shareholdings, as disclosed in the Directors' report. 

 
Page 11