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REGISTERED NUMBER: 03192497 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

CONNECT VENDING LIMITED

CONNECT VENDING LIMITED (REGISTERED NUMBER: 03192497)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CONNECT VENDING LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTORS: S Coutts
Mrs M Coutts
E Coutts
D R Levy
Ms K Glenn





SECRETARY: Ms K Glenn





REGISTERED OFFICE: 10 London Mews
London
LONDON
W2 1HY





REGISTERED NUMBER: 03192497 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

CONNECT VENDING LIMITED (REGISTERED NUMBER: 03192497)

BALANCE SHEET
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 176,617 196,529
Investments 5 - 21,000
176,617 217,529

CURRENT ASSETS
Stocks 328,645 388,426
Debtors 6 1,312,721 1,361,769
Cash at bank and in hand 694,556 499,247
2,335,922 2,249,442
CREDITORS
Amounts falling due within one year 7 1,361,872 1,507,491
NET CURRENT ASSETS 974,050 741,951
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,150,667

959,480

PROVISIONS FOR LIABILITIES 50,444 50,444
NET ASSETS 1,100,223 909,036

CAPITAL AND RESERVES
Called up share capital 991 991
Revaluation reserve 9 26,410 37,858
Capital redemption reserve 15 15
Retained earnings 1,072,807 870,172
SHAREHOLDERS' FUNDS 1,100,223 909,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

CONNECT VENDING LIMITED (REGISTERED NUMBER: 03192497)

BALANCE SHEET - continued
30 September 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 Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:




S Coutts - Director



E Coutts - Director


CONNECT VENDING LIMITED (REGISTERED NUMBER: 03192497)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Connect Vending Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured as the fair value of consideration received or receivable, excluding value added tax. The following criteria must also be met before revenue is recognised.

Operating sales
These sales include a provision of services in respect of maintaining operation of machines including stocking and cleanliness. Sales of vends are also invoiced. The fixed and vend charges are invoiced monthly in arrears and recognised in the accounting period to which the invoice relates.

Cup plan sales
A fixed charge for each vend encompasses all the services/stock provided by the company. These are invoiced monthly in arrears and recognised in the accounting period to which the invoice relates.

Tangible fixed assets
Tangible fixed assets 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 ny management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives as indicated below:

Depreciation is provided on the following basis:

Short leasehold - 20% straight line
Plant and machinery - 25% straight line
Fixture and fittings - 33.33% and 25% straight line
Motor Vehicles - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed annually and adjusted accordingly if applicable.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

CONNECT VENDING LIMITED (REGISTERED NUMBER: 03192497)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.

The basic financial debtors and liabilities as listed above 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 payments/receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised costs using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Taxation
Taxation for the year comprises current 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 64 (2023 - 61 ) .

CONNECT VENDING LIMITED (REGISTERED NUMBER: 03192497)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 October 2023 115,566 1,327,144 567,311 2,010,021
Additions 19,552 32,526 35,855 87,933
At 30 September 2024 135,118 1,359,670 603,166 2,097,954
DEPRECIATION
At 1 October 2023 102,118 1,237,527 473,847 1,813,492
Charge for year 6,940 45,679 55,226 107,845
At 30 September 2024 109,058 1,283,206 529,073 1,921,337
NET BOOK VALUE
At 30 September 2024 26,060 76,464 74,093 176,617
At 30 September 2023 13,448 89,617 93,464 196,529

Cost or valuation at 30 September 2024 is represented by:

Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
Valuation in 2015 - 45,900 - 45,900
Valuation in 2016 - 35,400 - 35,400
Valuation in 2017 - 35,200 - 35,200
Valuation in 2018 - 18,000 - 18,000
Valuation in 2024 - (11,180 ) - (11,180 )
Cost 135,118 1,236,350 603,166 1,974,634
135,118 1,359,670 603,166 2,097,954

Vending machines are revalued from £nil following refurbishment which enables the machines to be further utilised by the company. The revaluation is performed by the director on an annual basis and reassessed annually.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023 21,000
Impairments (21,000 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 21,000

CONNECT VENDING LIMITED (REGISTERED NUMBER: 03192497)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 865,408 989,613
Other debtors 447,313 372,156
1,312,721 1,361,769

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 469,588 560,902
Taxation and social security 518,850 487,506
Other creditors 373,434 459,083
1,361,872 1,507,491

8. LEASING AGREEMENTS

Operating lease commitments not included in the balance sheet amount to £978,018 (2023: £735,567).

9. RESERVES
Revaluation
reserve
£   
At 1 October 2023 37,858
Revaluation reserve 6,199
Reserve transfer (17,647 )

At 30 September 2024 26,410

The reserves movement in the year includes the profit for the financial year, dividends paid in the sum of £664,714 and revaluation and reserves movement. Unrealised revaluation is in the sum of £6,199 (2023: £21,000) and the associated depreciation and loss on disposal on these assets in the year of £17,647 (2023:£21,354) has been transferred from retained earnings to revaluation reserve.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
S Coutts
Balance outstanding at start of year (583 ) -
Amounts advanced 31,184 (583 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,601 (583 )

CONNECT VENDING LIMITED (REGISTERED NUMBER: 03192497)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

E Coutts
Balance outstanding at start of year (34 ) -
Amounts advanced 10,463 (34 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,429 (34 )

No interest is payable or receivable on directors loan balances. The outstanding balances was fully repaid within 9 months of the year end.

In addition, other directors loaned the company £1,392 in the year. As at 30th September 2024 these directors were owed £29,408 (2023: £28,016).