Company Registration No. 05097211 (England and Wales)
Marshall-Banks Vending Services Limited
Unaudited accounts
for the year ended 31 May 2018
Marshall-Banks Vending Services Limited
Unaudited accounts
Contents
Marshall-Banks Vending Services Limited
Company Information
for the year ended 31 May 2018
Director
Kenneth Arnold Marshall
Company Number
05097211 (England and Wales)
Registered Office
37 Walker Road
Birstall
Leicester
LE4 3BP
Accountants
Mendes & Co Limited
55a London Road
Leicester
LE2 0PE
Marshall-Banks Vending Services Limited
Statement of financial position
as at 31 May 2018
Tangible assets
9,381
9,979
Cash at bank and in hand
76,868
68,710
Creditors: amounts falling due within one year
(58,457)
(70,388)
Net current assets
77,598
57,420
Total assets less current liabilities
86,980
67,400
Creditors: amounts falling due after more than one year
-
(833)
Provisions for liabilities
Deferred tax
(1,782)
(1,896)
Called up share capital
100
100
Profit and loss account
85,098
64,571
Shareholders' funds
85,198
64,671
For the year ending 31 May 2018 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 director acknowledges his 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.
Approved by the Board on 12 February 2019.
Kenneth Arnold Marshall
Director
Company Registration No. 05097211
Marshall-Banks Vending Services Limited
Notes to the Accounts
for the year ended 31 May 2018
Marshall-Banks Vending Services Limited is a private company, limited by shares, registered in England and Wales, registration number 05097211. The registered office is 37 Walker Road, Birstall, Leicester, LE4 3BP.
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.
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:
Motor vehicles
25% straight line
Computer equipment
25% straight line
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.
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.
Marshall-Banks Vending Services Limited
Notes to the Accounts
for the year ended 31 May 2018
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
5
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2017
13,995
4,830
18,825
At 31 May 2018
13,995
6,579
20,574
At 1 June 2017
5,038
3,808
8,846
Charge for the year
1,791
556
2,347
At 31 May 2018
6,829
4,364
11,193
At 31 May 2018
7,166
2,215
9,381
At 31 May 2017
8,957
1,022
9,979
Finished goods
18,424
50,777
Marshall-Banks Vending Services Limited
Notes to the Accounts
for the year ended 31 May 2018
Trade debtors
40,101
8,117
8
Creditors: amounts falling due within one year
2018
2017
Obligations under finance leases and hire purchase contracts
833
3,332
Trade creditors
11,590
13,751
Taxes and social security
11,473
8,665
Other creditors
1,723
1,650
Loans from directors
32,838
42,990
9
Creditors: amounts falling due after more than one year
2018
2017
Obligations under finance leases and hire purchase contracts
-
833
10
Deferred taxation
2018
2017
Accelerated capital allowances
1,782
1,896
Provision at start of year
1,896
2,495
Credited to the profit and loss account
(114)
(599)
Provision at end of year
1,782
1,896
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
12
Operating lease commitments
2018
2017
At 31 May 2018 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
4,650
4,500
Marshall-Banks Vending Services Limited
Notes to the Accounts
for the year ended 31 May 2018
13
Average number of employees
During the year the average number of employees was 2 (2017: 1).
