J W Vending Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04974397 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

J W VENDING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Worgan

Mrs H M Worgan

Mr L Worgan

Mr A Worgan

Mr C Worgan

SECRETARY:

Mr J Worgan

REGISTERED OFFICE:

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

REGISTERED NUMBER:

04974397 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Tangible assets

4

308,789

175,147

CURRENT ASSETS

Stocks

56,567

53,818

Debtors

5

54,549

35,011

Cash at bank and in hand

141,019

146,811

252,135

235,640

CREDITORS

Amounts falling due within one year

6

199,825

148,369

NET CURRENT ASSETS

52,310

87,271

TOTAL ASSETS LESS CURRENT LIABILITIES

361,099

262,418

PROVISIONS FOR LIABILITIES

55,964

30,595

NET ASSETS

305,135

231,823

CAPITAL AND RESERVES

Called up share capital

7

14

14

Retained earnings

8

305,121

231,809

SHAREHOLDERS' FUNDS

305,135

231,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2020 and were signed on its behalf by:

Mr J Worgan - Director

1.	STATUTORY INFORMATION

J W Vending Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2019

516,358

69,053

585,411

Additions

186,097

3,774

189,871

Disposals

-

(6,545

)

(6,545

)

At 31 December 2019

702,455

66,282

768,737

DEPRECIATION

At 1 January 2019

355,882

54,382

410,264

Charge for year

52,698

4,042

56,740

Eliminated on disposal

-

(7,056

)

(7,056

)

At 31 December 2019

408,580

51,368

459,948

NET BOOK VALUE

At 31 December 2019

293,875

14,914

308,789

At 31 December 2018

160,476

14,671

175,147

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

22,139

25,727

Other debtors

32,410

9,284

54,549

35,011

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

41,380

34,689

Taxation and social security

44,650

29,811

Other creditors

113,795

83,869

199,825

148,369

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

10

Ordinary

£1

10

10

1

Employee A Ordinary

£1

1

1

1

Employee B Ordinary

£1

1

1

1

Employee C Ordinary

£1

1

1

1

Employee D Ordinary

£1

1

1

14

14

8.

RESERVES

Retained

earnings

£

At 1 January 2019

231,809

Profit for the year

183,903

Dividends

(110,591

)

At 31 December 2019

305,121

9.	RELATED PARTY DISCLOSURES

The company maintains an interest free loan account with one of the directors. At the start of

the year the company owed the director £74,966 (2018: £44,384). During the year the

company repaid £40,801 (2018: £36,438) and were advanced £70,520 (2018: £67,020). At

the balance sheet date the company owed £104,685 (2018: £74,966).

10.	ULTIMATE CONTROLLING PARTY

The company is under control of Mr J Worgan and his immediate family due to their

ownership of the entire share capital.