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Registration number: 10068932

Vendor 2 Tender Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Vendor 2 Tender Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Vendor 2 Tender Limited

Company Information

Directors

Mr Andrew Mark Chapman

James Dowler

Registered office

10 Roundhill Way
Cobham
Surrey
KT11 2EX

Accountants

Re:Accounts Limited
Chartered AccountantsSuite 1C Meadway Court
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF

 

Vendor 2 Tender Limited

(Registration number: 10068932)
Balance Sheet as at 30 June 2024

Note

30 June
2024
£

30 June
2023
£

Fixed assets

 

Tangible assets

4

1,416

1,498

Current assets

 

Debtors

5

795,374

739,026

Cash at bank and in hand

 

96,751

57,941

 

892,125

796,967

Creditors: Amounts falling due within one year

6

(863,835)

(763,543)

Net current assets

 

28,290

33,424

Total assets less current liabilities

 

29,706

34,922

Creditors: Amounts falling due after more than one year

6

(10,510)

(30,765)

Net assets

 

19,196

4,157

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

18,196

3,157

Shareholders' funds

 

19,196

4,157

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 March 2025 and signed on its behalf by:
 

 

Vendor 2 Tender Limited

(Registration number: 10068932)
Balance Sheet as at 30 June 2024 (continued)

.........................................
Mr Andrew Mark Chapman
Director

.........................................
James Dowler
Director

 

Vendor 2 Tender Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
10 Roundhill Way
Cobham
Surrey
KT11 2EX
England

These financial statements were authorised for issue by the Board on 31 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Vendor 2 Tender Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold 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 obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Vendor 2 Tender Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Vendor 2 Tender Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

3,077

3,077

Additions

916

916

At 30 June 2024

3,993

3,993

Depreciation

At 1 July 2023

1,579

1,579

Charge for the year

998

998

At 30 June 2024

2,577

2,577

Carrying amount

At 30 June 2024

1,416

1,416

At 30 June 2023

1,498

1,498

5

Debtors

Current

30 June
2024
£

30 June
2023
£

Trade debtors

208,331

216,714

Prepayments

442,000

442,000

Other debtors

145,043

80,312

 

795,374

739,026

6

Creditors

Creditors: amounts falling due within one year

 

Vendor 2 Tender Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

6

Creditors (continued)

Note

30 June
2024
£

30 June
2023
£

Due within one year

 

Loans and borrowings

8

10,255

-

Trade creditors

 

416,011

339,048

Taxation and social security

 

263,794

314,409

Accruals and deferred income

 

80,810

4,719

Other creditors

 

92,965

105,367

 

863,835

763,543

 

Vendor 2 Tender Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

30 June
2024
£

30 June
2023
£

Due after one year

 

Loans and borrowings

8

10,510

30,765

7

Share capital

Allotted, called up and fully paid shares

30 June
2024

30 June
2023

No.

£

No.

£

Ordinary of £0.00 each

1,000,000

1,000

1,000,000

1,000

       

8

Loans and borrowings

Non-current loans and borrowings

30 June
2024
£

30 June
2023
£

Bank borrowings

10,510

30,765

Current loans and borrowings

30 June
2024
£

30 June
2023
£

Bank borrowings

10,255

-

9

Dividends

Final dividends paid

30 June
2024
£

30 June
2023
£

Final dividend of £Nil per each Ordinary

-

-

 

 

Interim dividends paid

 

Vendor 2 Tender Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

9

Dividends (continued)

30 June
2024
£

30 June
2023
£

Interim dividend of £250.00 (2023 - £200.00) per each Ordinary

250,000

200,000

 

 

10

Related party transactions

At the year end loans from the company to the directors totalled £145,043 (2023: £80,311). Interest of £2,900 (2023: £1,890) was paid to the company. All loans were repaid within 9 months of the year end.

Included within creditors at the year end was £43,595 (2023: £28,753) owed to directors. The loans to the company were interest free with no fixed date for repayment.