Registered number
12843615
East Midlands Vending Ltd
Filleted Accounts
31 December 2024
East Midlands Vending Ltd
Registered number: 12843615
Balance Sheet
as at 31 December 2024
As restated
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 236,812 189,326
Current assets
Stocks 66,690 45,945
Debtors 4 147,752 156,850
Cash at bank and in hand 102,315 167,330
316,757 370,125
Creditors: amounts falling due within one year 5 (288,778) (336,760)
Net current assets 27,979 33,365
Total assets less current liabilities 264,791 222,691
Creditors: amounts falling due after more than one year 6 (117,960) (85,617)
Provisions for liabilities (59,203) (47,331)
Net assets 87,628 89,743
Capital and reserves
Called up share capital 10 10
Profit and loss account 87,618 89,733
Shareholders' funds 87,628 89,743
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S J Barnett
Director
Approved by the board on 9 September 2025
East Midlands Vending Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% on reducing balance
Plant and machinery 15% on reducing balance
Fixtures, fittings, tools and equipment 25% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 13
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 22,993 226,482 249,475
Additions 14,146 125,489 139,635
Disposals - (60,785) (60,785)
At 31 December 2024 37,139 291,186 328,325
Depreciation
At 1 January 2024 7,009 53,140 60,149
Charge for the year 5,291 52,237 57,528
On disposals - (26,164) (26,164)
At 31 December 2024 12,300 79,213 91,513
Net book value
At 31 December 2024 24,839 211,973 236,812
At 31 December 2023 15,984 173,342 189,326
4 Debtors 2024 2023
£ £
Trade debtors 95,831 121,675
Other debtors 51,921 35,175
147,752 156,850
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 70,921 59,161
Trade creditors 87,769 153,302
Taxation and social security costs 108,639 114,185
Other creditors 21,449 10,112
288,778 336,760
Hire purchase liabilities are secured on the assets to which they relate.
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 117,960 85,617
Hire purchase liabilities are secured on the assets to which they relate.
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 81,526 13,425
8 Prior year adjustment
The company transitioned from FRS 105 to FRS 102 section 1A during the year.
This required provision for deferred tax where it had not previously been necessary.
Therefore, the prior year figures have been restated to reflect this and a provision for deferred tax of £47,331 has been included at 31 December 2023.
9 Controlling party
The company has no ultimate controlling party.
10 Other information
East Midlands Vending Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Gainsborough Business Park
Gainsborough Close
Long Eaton
Nottingham
NG10 1PX
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