Blue Monkey Vending (Holdings) Limited Filleted accounts for Companies House (small and micro)

BLUE MONKEY VENDING (HOLDINGS) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09027852

Blue Monkey Vending (Holdings) Limited

Filleted Unaudited Financial Statements

30 November 2018

Blue Monkey Vending (Holdings) Limited

Financial Statements

Year ended 30 November 2018

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Blue Monkey Vending (Holdings) Limited

Statement of Financial Position

30 November 2018

	2018	2017
Note	£	£

Fixed assets

Intangible assets	4	7,270	8,300
Investments	5	300	300
		-------	-------
		7,570	8,600

Current assets

Debtors	6	223,615	223,123
Cash at bank and in hand		38,015	38,075
		---------	---------
		261,630	261,198
		---------	---------
Net current assets		261,630	261,198
		---------	---------
Total assets less current liabilities		269,200	269,798

Creditors: amounts falling due after more than one year	7	269,075	269,673
		---------	---------
Net assets		125	125
		---------	---------

Capital and reserves

Called up share capital	125	125
	----	----
Shareholders funds	125	125
	----	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 November 2018 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Blue Monkey Vending (Holdings) Limited

Statement of Financial Position (continued)

30 November 2018

These financial statements were approved by the board of directors and authorised for issue on 31 July 2019 , and are signed on behalf of the board by:

Mr J F Holmes

Director

Company registration number: 09027852

Blue Monkey Vending (Holdings) Limited

Notes to the Financial Statements

Year ended 30 November 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 144 Walter Road, Swansea, SA1 5RW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, rounded to the nearest £1.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the supply of services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on the supply of the services, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Patents, trademarks and licences	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Intangible assets

	Patents, trademarks and licences
	£
Cost
At 1 December 2017 and 30 November 2018	10,427
	--------
Amortisation
At 1 December 2017	2,127
Charge for the year	1,030
	--------
At 30 November 2018	3,157
	--------
Carrying amount
At 30 November 2018	7,270
	--------
At 30 November 2017	8,300
	--------

5. Investments

	Shares in group undertakings
	£
Cost
At 1 December 2017 and 30 November 2018	300
	----
Impairment
At 1 December 2017 and 30 November 2018	–
	----

Carrying amount
At 30 November 2018	300
	----
At 30 November 2017	300
	----

6. Debtors

	2018	2017
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	223,615	223,123
	---------	---------

The debtors above include the following amounts falling due after more than one year:

	2018	2017
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	223,615	223,123
	---------	---------

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

	2018	2017
	£	£
Other creditors	269,075	269,673
	---------	---------

8. Secured debts

The following secured debts are included within creditors:

	2018	2017
	£	£
Directors' loan accounts	269,075	269,673
	---------	---------

The directors hold a fixed and floating charge over the assets of Blue Monkey Vending (Holdings) Limited dated 21 January 2016.

9. Related party transactions

At the beginning of the year the company was owed £223,123 by Blue Monkey Vending Limited, one of its wholly owned subsidiaries. During the year a further £492 was loaned to Blue Monkey Vending Limited. As a result the balance due from that company increased to £223,615 by the year end. No repayments were made in the year and no interest has been charged on the outstanding balance. The loan has no fixed repayment date. The balance receivable is included in Amounts owed by group undertakings under Debtors: Amounts falling due after more than one year. At the year end the company owed its directors £269,075 (2017 £269,673). Interest has not been charged on any outstanding amounts and the balance has no fixed repayment date. The balance payable is included in Directors' loan accounts under Creditors: Amounts falling due after more than one year.

10. Controlling party

The company is controlled by J F Holmes who is one of its directors.

11. Subsidiary companies

At 30 November 2018 the company held all of the issued shares in Blue Monkey Vending Limited, Blue Monkey Retail Limited and Blue Monkey Manufacturing Limited. The company has produced accounts which show only the affairs of the company as the group which it controls falls within the definition of a small group. Blue Monkey Vending Limited reported a profit after taxation of £45,691 for the period ended 30 November 2018 (2017 £7,074) and had net liabilities of £33,527 at 30 November 2018 (2017 £79,218). Blue Monkey Retail Limited and Blue Monkey Manufacturing Limited were both dormant during the period ended 30 November 2018 and each had a balance sheet value of £100 at 30 November 2018.