Company No: SC213626 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	267,120		205,413
		267,120		205,413
Current assets
Stocks		103,401		90,041
Debtors	4	264,363		208,705
Cash at bank and in hand		98,057		38,881
		465,821		337,627
Creditors: amounts falling due within one year	5	( 348,394)		( 282,074)
Net current assets		117,427		55,553
Total assets less current liabilities		384,547		260,966
Creditors: amounts falling due after more than one year	6	( 161,969)		( 118,756)
Provision for liabilities	7, 8	( 30,343)		( 25,125)
Net assets		192,235		117,085
Capital and reserves
Called-up share capital	9	2		2
Profit and loss account		192,233		117,083
Total shareholders' funds		192,235		117,085

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Norscott Vending Services Limited (registered number: SC213626) were approved and authorised for issue by the Board of Directors on 25 September 2025. They were signed on its behalf by:

David Robert Newsham Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Norscott Vending Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Stadium Trading Park, Stadium Road, Inverness, IV1 1FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised when the goods are despatched or services provided to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	3 years straight line
	15 - 25 % reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	15		13

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 January 2024	110,055		23,999		311,929		8,914		454,897
Additions	0		0		205,814		1,313		207,127
Disposals	0		0		( 155,849)		( 765)		( 156,614)
At 31 December 2024	110,055		23,999		361,894		9,462		505,410
Accumulated depreciation
At 01 January 2024	110,055		19,186		113,323		6,920		249,484
Charge for the financial year	0		722		70,016		597		71,335
Disposals	0		0		( 82,021)		( 508)		( 82,529)
At 31 December 2024	110,055		19,908		101,318		7,009		238,290
Net book value
At 31 December 2024	0		4,091		260,576		2,453		267,120
At 31 December 2023	0		4,813		198,606		1,994		205,413

4. Debtors

	2024		2023
	£		£
Trade debtors	231,505		195,175
Other debtors	32,858		13,530
	264,363		208,705

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	5,472		5,472
Trade creditors	165,998		94,534
Corporation tax	68,744		48,624
Other taxation and social security	36,831		24,157
Obligations under finance leases and hire purchase contracts (secured)	51,338		59,530
Other creditors	20,011		49,757
	348,394		282,074

The bank loans consist of a Coronavirus Bounce Bank loan of £5,472 (2023 - £5,472) which is guaranteed by the UK government.

The obligations under hire purchase contracts totalling £51,338 (2023 - £59,530), are secured over the assets which the agreements relate to.

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans (secured)	24,167		29,639
Obligations under finance leases and hire purchase contracts (secured)	137,802		89,117
	161,969		118,756

The bank loans consist of a Coronavirus Bounce Bank loan of £24,167 (2023 - £29,639), which is guaranteed by the UK government.

The obligations under hire purchase contracts totalling £137,802 (2023 - £89,117), are secured over the assets which the agreements relate to.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2024		2023
	£		£
Bank loans	2,280		7,752

Bank loans consist of a Coronavirus Bounce Back loan which is guaranteed by the UK government.

7. Provision for liabilities

	2024		2023
	£		£
Deferred tax	30,343		25,125

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 25,125)		( 18,811)
Charged to the Statement of Income and Retained Earnings	( 5,218)		( 6,314)
At the end of financial year	( 30,343)		( 25,125)

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

10. Financial commitments

Commitments

	2024		2023
	£		£
Total future minimum lease payments under non-cancellable operating lease	163,676		205,926

11. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2024		2023
	£		£
Entities over which the entity has control, joint control or significant influence	(2,648)		(2,648)

This balance is included within other debtors.

Transactions with the entity's directors

	2024		2023
	£		£
Key management personnel (debtor = negative, creditor = positive)	333		1,549

This balance is included in other debtors.