IRIS Accounts Production v25.1.4.42 02981147 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh029811472023-12-31029811472024-12-31029811472024-01-012024-12-31029811472022-12-31029811472023-01-012023-12-31029811472023-12-3102981147ns14:PoundSterling2024-01-012024-12-3102981147ns10:Director12024-01-012024-12-3102981147ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3102981147ns10:SmallEntities2024-01-012024-12-3102981147ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3102981147ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3102981147ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3102981147ns10:FullAccounts2024-01-012024-12-3102981147ns10:Director22024-01-012024-12-3102981147ns10:Director32024-01-012024-12-3102981147ns10:Director42024-01-012024-12-3102981147ns10:CompanySecretary12024-01-012024-12-3102981147ns10:RegisteredOffice2024-01-012024-12-3102981147ns5:CurrentFinancialInstruments2024-12-3102981147ns5:CurrentFinancialInstruments2023-12-3102981147ns5:Non-currentFinancialInstruments2024-12-3102981147ns5:Non-currentFinancialInstruments2023-12-3102981147ns5:ShareCapital2024-12-3102981147ns5:ShareCapital2023-12-3102981147ns5:SharePremium2024-12-3102981147ns5:SharePremium2023-12-3102981147ns5:CapitalRedemptionReserve2024-12-3102981147ns5:CapitalRedemptionReserve2023-12-3102981147ns5:RetainedEarningsAccumulatedLosses2024-12-3102981147ns5:RetainedEarningsAccumulatedLosses2023-12-3102981147ns5:NetGoodwill2024-01-012024-12-3102981147ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3102981147ns5:PlantMachinery2024-01-012024-12-3102981147ns5:LandBuildings2023-12-3102981147ns5:PlantMachinery2023-12-3102981147ns5:LandBuildings2024-01-012024-12-3102981147ns5:LandBuildings2024-12-3102981147ns5:PlantMachinery2024-12-3102981147ns5:LandBuildings2023-12-3102981147ns5:PlantMachinery2023-12-3102981147ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-12-3102981147ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-12-3102981147ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-12-3102981147ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-31
REGISTERED NUMBER: 02981147












BULK VENDING SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024






BULK VENDING SYSTEMS LIMITED (REGISTERED NUMBER: 02981147)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BULK VENDING SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: L A J Dineen
N J Dineen
T J Dineen
Mrs J A Hurran





SECRETARY: L A J Dineen





REGISTERED OFFICE: 8 - 11 James Court
Viking Way
Winch Wen Industrial Estate
Swansea
SA1 7DA





REGISTERED NUMBER: 02981147






BULK VENDING SYSTEMS LIMITED (REGISTERED NUMBER: 02981147)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 886,754 851,270

CURRENT ASSETS
Stocks 155,342 169,264
Debtors 5 74,050 168,021
Cash at bank 433,227 312,858
662,619 650,143
CREDITORS
Amounts falling due within one year 6 406,510 402,498
NET CURRENT ASSETS 256,109 247,645
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,142,863

1,098,915

CREDITORS
Amounts falling due after more than one year 7 217,668 337,426
NET ASSETS 925,195 761,489

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Share premium 11,865 11,865
Capital redemption reserve 37,750 37,750
Retained earnings 825,580 661,874
925,195 761,489

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Statement of Income and Retained Earnings has not been delivered.

BULK VENDING SYSTEMS LIMITED (REGISTERED NUMBER: 02981147)

BALANCE SHEET - continued
31 DECEMBER 2024



The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2025 and were signed on its behalf by:





T J Dineen - Director


BULK VENDING SYSTEMS LIMITED (REGISTERED NUMBER: 02981147)

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

1. STATUTORY INFORMATION

Bulk Vending Systems Limited is a private company, limited by shares , registered in Not specified/Other. 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, is the amount paid in connection with the acquisition of a business.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% reducing balance

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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BULK VENDING SYSTEMS LIMITED (REGISTERED NUMBER: 02981147)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


BULK VENDING SYSTEMS LIMITED (REGISTERED NUMBER: 02981147)

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

2. ACCOUNTING POLICIES - continued
Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Cash at bank and cash in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Functional and Presentation Currency
The company's functional and presentation currency is pounds sterling.


Loan Received
The company received £150,000 in 2020 as government assistance in the form of the Coronavirus Business Interruption Loan Scheme (CBILS).

There are no unfulfilled conditions attached to these to the above grants received.

Going Concern
The accounts have been prepared on the going concern basis, on the understanding that the director and shareholder will continue to financially support the company for a period of 12 months from the date of these financial statements. This support will be reviewed at that time.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 24 ) .

BULK VENDING SYSTEMS LIMITED (REGISTERED NUMBER: 02981147)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 476,737 867,139 1,343,876
Additions - 81,484 81,484
At 31 December 2024 476,737 948,623 1,425,360
DEPRECIATION
At 1 January 2024 - 492,606 492,606
Charge for year - 46,000 46,000
At 31 December 2024 - 538,606 538,606
NET BOOK VALUE
At 31 December 2024 476,737 410,017 886,754
At 31 December 2023 476,737 374,533 851,270

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 74,050 168,021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,500 30,000
Trade creditors 300,504 303,107
Tax 70,586 26,403
Social security and other taxes 12,920 42,988
406,510 402,498

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 20,000 30,000
Bank loans - 2-5 years - 12,500
Hire purchase contracts 73,668 116,926
Directors' loan accounts 124,000 178,000
217,668 337,426

8. RELATED PARTY DISCLOSURES

At the year end there is an amount of £124,000 (2023: £178,000) owed to the directors, this is provided on terms that are interest-free and repayable on demand.