Company Registration No. 08346285 (England and Wales)
Fairtrade Vending Limited
Unaudited accounts
for the year ended 31 December 2024
Fairtrade Vending Limited
Unaudited accounts
Contents
Fairtrade Vending Limited
Company Information
for the year ended 31 December 2024
Directors
Mr R M Steel
Miss V L Steel
Company Number
08346285 (England and Wales)
Registered Office
Unit 1 Henley Business Park
Medway City Estate
Rochester
ME2 4FR
England
Fairtrade Vending Limited
Statement of financial position
as at 31 December 2024
Intangible assets
500
1,500
Tangible assets
82,399
66,773
Inventories
193,734
155,404
Cash at bank and in hand
155,302
192,173
Creditors: amounts falling due within one year
(112,910)
(114,599)
Net current assets
331,798
318,088
Total assets less current liabilities
414,697
386,361
Creditors: amounts falling due after more than one year
(23,755)
(52,126)
Provisions for liabilities
Deferred tax
(10,460)
(10,460)
Net assets
380,482
323,775
Called up share capital
102
102
Profit and loss account
380,380
323,673
Shareholders' funds
380,482
323,775
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by
Mr R M Steel
Director
Company Registration No. 08346285
Fairtrade Vending Limited
Notes to the Accounts
for the year ended 31 December 2024
Fairtrade Vending Limited is a private company, limited by shares, registered in England and Wales, registration number 08346285. The registered office is Unit 1 Henley Business Park, Medway City Estate, Rochester, ME2 4FR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line and 25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Straight Line
Computer equipment
25% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fairtrade Vending Limited
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 January 2024
5,000
4,310
9,310
At 31 December 2024
5,000
4,310
9,310
At 1 January 2024
4,000
3,810
7,810
Charge for the year
500
500
1,000
At 31 December 2024
4,500
4,310
8,810
At 31 December 2024
500
-
500
At 31 December 2023
1,000
500
1,500
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
68,246
49,804
5,258
1,924
125,232
Additions
44,200
-
125
499
44,824
Disposals
-
(3,200)
-
-
(3,200)
At 31 December 2024
112,446
46,604
5,383
2,423
166,856
At 1 January 2024
32,738
21,650
2,516
1,555
58,459
Charge for the year
20,986
6,958
717
217
28,878
On disposals
-
(2,880)
-
-
(2,880)
At 31 December 2024
53,724
25,728
3,233
1,772
84,457
At 31 December 2024
58,722
20,876
2,150
651
82,399
At 31 December 2023
35,508
28,154
2,742
369
66,773
Amounts falling due within one year
Trade debtors
65,176
76,224
Other debtors
30,496
8,886
Fairtrade Vending Limited
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
20,137
19,890
Obligations under finance leases and hire purchase contracts
7,987
-
Trade creditors
32,562
32,970
Taxes and social security
23,035
35,630
Loans from directors
29,189
-
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
9,103
17,090
9
Average number of employees
During the year the average number of employees was 6 (2023: 7).