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

BLUE MONKEY VENDING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09082578

Blue Monkey Vending Limited

Filleted Unaudited Financial Statements

30 November 2019

Blue Monkey Vending Limited

Financial Statements

Year ended 30 November 2019

Contents	Page

Director's report	1

Statement of financial position	3

Notes to the financial statements	5

Blue Monkey Vending Limited

Director's Report

Year ended 30 November 2019

The director presents his report and the unaudited financial statements of the company for the year ended 30 November 2019 .

Director

The director who served the company during the year was as follows:

Mr J F Holmes

Review of business Blue Monkey Vending Limited is a wholly owned subsidiary of Blue Monkey Vending (Holdings) Limited and operates as a manufacturer and distributor of specialist vending equipment and confectionery. The company traded profitably and recorded an overall profit of £41,254 (2018 £45,691) after Research & Development expenditure of £12,000 (2018 £16,000). Continued investment in machine compatible technology, sales and marketing should enhance overseas and UK equipment sales whilst management establish optimum UK sites and partners enabling growth in the company's owned machine operations as well as increasing recurring confectionery vend royalties in 2019 and beyond. The financial and non-financial performance is monitored through key performance indicators for machines, including: - Analysis of transactions by volumes and values of: -Machines -Confectionery commission -Site Profit Share - Cup vends per machine - Gross margin on machine manufacture - Royalty income and site profit shares

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 25 November 2020 and signed on behalf of the board by:

Mr J F Holmes
Director

Registered office:

144 Walter Road

Swansea

SA1 5RW

Blue Monkey Vending Limited

Statement of Financial Position

30 November 2019

	2019	2018
Note	£	£

Current assets

Stocks		170,000	171,374
Debtors	4	12,956	18,617
Cash at bank and in hand		82,852	41,188
		---------	---------
		265,808	231,179

Creditors: amounts falling due within one year	5	33,236	40,891
		---------	---------
Net current assets		232,572	190,288
		---------	---------
Total assets less current liabilities		232,572	190,288

Creditors: amounts falling due after more than one year	6	224,845	223,815
		---------	---------
Net assets/(liabilities)		7,727	( 33,527)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	7,627	( 33,627)
	-------	--------
Shareholders funds/(deficit)	7,727	( 33,527)
	-------	--------

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 income and retained earnings has not been delivered.

For the year ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Blue Monkey Vending Limited

Statement of Financial Position (continued)

30 November 2019

These financial statements were approved by the board of directors and authorised for issue on 25 November 2020 , and are signed on behalf of the board by:

Mr J F Holmes
Director

Company registration number: 09082578

Blue Monkey Vending Limited

Notes to the Financial Statements

Year ended 30 November 2019

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Research and development

Expenditure on research is recognised as an expense when it is incurred. Development expenditure is recognised as an expense except where it can be demonstrated that such costs are expected to generate future economic benefits, in which case they are capitalised and deferred to the extent that recovery can reasonably be regarded as assured.

Any development expenditure which is capitalised will be amortised on a straight line basis over a period not exceeding seven years, beginning when the products are ready for sale or use.

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. Debtors

	2019	2018
	£	£
Trade debtors	10,090	18,549
Other debtors	2,866	68
	--------	--------
	12,956	18,617
	--------	--------

5. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	25,936	33,391
Other creditors	7,300	7,500
	--------	--------
	33,236	40,891
	--------	--------

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

	2019	2018
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	224,845	223,815
	---------	---------

7. Charges

The company's director, Mr J F Holmes together with Mr D J M Brown, a director of the company's ultimate parent company, Blue Monkey Vending (Holdings) Limited, holds a fixed and floating charge over the assets of the company dated 30 March 2016.

8. Related party transactions

At the 30 November 2019 the company owed a loan balance of £224,645 (2019 £223,615) to its holding company Blue Monkey Vending (Holdings) Limited. This loan had increased by £1,030 during the year. The company owes two further amounts of £100 each to both of its fellow subsidiaries, Blue Monkey Retail Limited and Blue Monkey Manufacturing Limited. No repayments of any loan balances were made in the year and no interest has been charged on the outstanding balances. The loans have no fixed repayment dates. The balances payable are included in Amounts owed to group undertakings under Creditors: Amounts falling due after more than one year.

9. Controlling party

Blue Monkey Vending (Holdings) Limited is regarded by the director as being the company's ultimate parent company. The whole of the company's share capital is owned by Blue Monkey Vending (Holdings) Limited, a company controlled by Mr J F Holmes, the director of Blue Monkey Vending Limited .