Garden County Vending Limited Filleted accounts for Companies House (small and micro)

GARDEN COUNTY VENDING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01169182

GARDEN COUNTY VENDING LIMITED

FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED

30 April 2021

GARDEN COUNTY VENDING LIMITED

ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2021

Contents	Page

Balance sheet	1

Notes to the abridged financial statements	3

GARDEN COUNTY VENDING LIMITED

BALANCE SHEET

30 April 2021

	2021		2020
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		258,594		270,362

CURRENT ASSETS

Stocks	28,484	97,436
Debtors	97,103	92,702
Cash at bank and in hand	77,440	56,457
	---------	---------
	203,027	246,595

CREDITORS: amounts falling due within one year	209,934		256,066
	---------		---------
NET CURRENT LIABILITIES		6,907		9,471
		---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES		251,687		260,891

CREDITORS: amounts falling due after more than one year		65,985		46,080

PROVISIONS

Taxation including deferred tax	45,084	41,098
	---------	---------
NET ASSETS	140,618	173,713
	---------	---------

CAPITAL AND RESERVES

Called up share capital	75	100
Share premium account	485	485
Other reserves	25	–
Profit and loss account	140,033	173,128
	---------	---------
SHAREHOLDERS FUNDS	140,618	173,713
	---------	---------

These abridged 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 Section 1A of 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 profit and loss account has not been delivered.

GARDEN COUNTY VENDING LIMITED

BALANCE SHEET (continued)

30 April 2021

For the year ending 30 April 2021 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 abridged 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 abridged financial statements .

All of the members of Garden County Vending Limited have consented to the preparation of the abridged balance sheet for the year ending 30 April 2021 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 24 January 2022 , and are signed on behalf of the board by:

P R Woodard
Director

Company registration number: 01169182

GARDEN COUNTY VENDING LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2021

1. General information

The company is a private company limited by shares, incorporated and registered in England and Wales. The address of the registered office is Unit 4 Lake Road, Quarry Wood Industrial Estate, Aylesford, Kent, England, ME20 7TQ.

2. Statement of compliance

These abridged 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value in accordance with FRS 102. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense recognised in profit or loss represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered 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. Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	over the period of the lease
Plant & Machinery	-	15% reducing balance
Motor Vehicles	-	33% reducing balance
Office Equipment	-	15% reducing balance

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised using the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 21 (2020: 21 ).

5. Tangible assets

	£
Cost
At 1 May 2020	765,426
Additions	45,169
Disposals	( 21,599)
	---------
At 30 April 2021	788,996
	---------
Depreciation
At 1 May 2020	495,064
Charge for the year	50,971
Disposals	( 15,633)
	---------
At 30 April 2021	530,402
	---------
Carrying amount
At 30 April 2021	258,594
	---------
At 30 April 2020	270,362
	---------