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REGISTERED NUMBER: SC358792 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ABERCROMBY VENDING LTD.

ABERCROMBY VENDING LTD. (REGISTERED NUMBER: SC358792)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABERCROMBY VENDING LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: T Graham





REGISTERED OFFICE: 8-30 Arrol Road
Dalmarnock
Glasgow
G40 3DQ





REGISTERED NUMBER: SC358792 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

ABERCROMBY VENDING LTD. (REGISTERED NUMBER: SC358792)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,447,741 1,321,447
1,447,741 1,321,447

CURRENT ASSETS
Stocks 80,920 80,920
Debtors 6 572,174 648,063
Cash at bank and in hand 469,728 498,216
1,122,822 1,227,199
CREDITORS
Amounts falling due within one year 7 499,519 544,484
NET CURRENT ASSETS 623,303 682,715
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,071,044

2,004,162

CREDITORS
Amounts falling due after more than one
year

8

(144,193

)

(121,173

)

PROVISIONS FOR LIABILITIES (260,911 ) (187,212 )
NET ASSETS 1,665,940 1,695,777

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 1,645,940 1,675,777
1,665,940 1,695,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

ABERCROMBY VENDING LTD. (REGISTERED NUMBER: SC358792)

BALANCE SHEET - continued
31 MAY 2024


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 director and authorised for issue on 24 September 2024 and were signed by:





T Graham - Director


ABERCROMBY VENDING LTD. (REGISTERED NUMBER: SC358792)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Abercromby Vending Ltd. 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 stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 25 years
Plant & machinery - 15% on reducing balance
Fixtures & fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% 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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2009 and 2017, is being amortised evenly over their estimated useful lives of ten years and five years respectively.

ABERCROMBY VENDING LTD. (REGISTERED NUMBER: SC358792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Government grants
Government grants were received in 2014. These have been credited to a reserve account to match expenditure on fixed assets. The grants are being released to the Profit and Loss Account over 25 years.

Covid related Government grants are eligible for recognition within the financial statements once they become receivable

Basic financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 280,000
AMORTISATION
At 1 June 2023
and 31 May 2024 280,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

ABERCROMBY VENDING LTD. (REGISTERED NUMBER: SC358792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant & Fixtures
property machinery & fittings
£    £    £   
COST
At 1 June 2023 523,419 1,784,666 26,186
Additions - 255,584 23,250
Disposals - - -
At 31 May 2024 523,419 2,040,250 49,436
DEPRECIATION
At 1 June 2023 149,311 1,077,336 22,044
Charge for year 20,937 135,618 4,109
Eliminated on disposal - - -
At 31 May 2024 170,248 1,212,954 26,153
NET BOOK VALUE
At 31 May 2024 353,171 827,296 23,283
At 31 May 2023 374,108 707,330 4,142

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 535,583 24,617 2,894,471
Additions 88,265 - 367,099
Disposals (12,000 ) - (12,000 )
At 31 May 2024 611,848 24,617 3,249,570
DEPRECIATION
At 1 June 2023 306,337 17,996 1,573,024
Charge for year 70,092 6,621 237,377
Eliminated on disposal (8,572 ) - (8,572 )
At 31 May 2024 367,857 24,617 1,801,829
NET BOOK VALUE
At 31 May 2024 243,991 - 1,447,741
At 31 May 2023 229,246 6,621 1,321,447

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 66,906 74,140
Other debtors 505,268 573,923
572,174 648,063

ABERCROMBY VENDING LTD. (REGISTERED NUMBER: SC358792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 227,229 261,157
Taxation and social security 136,590 172,948
Other creditors 135,700 110,379
499,519 544,484

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Other creditors 144,193 121,173

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Loans 36,554 68,556

The Clydesdale Bank PLC hold a fixed charge over the property and a floating charge over the assets of the company.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
T Graham
Balance outstanding at start of year (147,482 ) (147,482 )
Amounts advanced - 8,395
Amounts repaid (4,237 ) (8,395 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (151,719 ) (147,482 )

Loans to/from directors are interest free and repayable upon demand.