TANDEM CICLO LTD

Company Registration Number:
10003955 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2021

Period of accounts

Start date: 1 July 2021

End date: 31 December 2021

TANDEM CICLO LTD

Contents of the Financial Statements

for the Period Ended 31 December 2021

Balance sheet
Additional notes
Balance sheet notes

TANDEM CICLO LTD

Balance sheet

As at 31 December 2021

Notes 31 December 2021 30 June 2021


£

£
Fixed assets
Tangible assets: 3 58,880 68,831
Total fixed assets: 58,880 68,831
Current assets
Debtors: 4 113,481 45,930
Cash at bank and in hand: 17,554 63,022
Total current assets: 131,035 108,952
Creditors: amounts falling due within one year: 5 ( 86,431 ) ( 58,143 )
Net current assets (liabilities): 44,604 50,809
Total assets less current liabilities: 103,484 119,640
Creditors: amounts falling due after more than one year: 6 ( 131,060 ) ( 150,000 )
Total net assets (liabilities): (27,576) (30,360)
Capital and reserves
Called up share capital: 80 80
Profit and loss account: (27,656 ) (30,440 )
Total Shareholders' funds: ( 27,576 ) (30,360)

The notes form part of these financial statements

TANDEM CICLO LTD

Balance sheet statements

For the year ending 31 December 2021 the company was entitled to exemption 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 directors acknowledge their 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 15 August 2022
and signed on behalf of the board by:

Name: P. Petrillo
Status: Director

The notes form part of these financial statements

TANDEM CICLO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Fixtures, fittings and equipment - over 4 years, Leasehold improvements - over the lease term.

    Other accounting policies

    Debtors - Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.Creditors - Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.Taxation - A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.Foreign currency translation: Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.Pensions - Contributions to defined contribution plans are expensed in the period to which they relate.

TANDEM CICLO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 2. Employees

    31 December 2021 30 June 2021
    Average number of employees during the period 12 7

TANDEM CICLO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2021 53,154 25,628 78,782
Additions
Disposals
Revaluations
Transfers
At 31 December 2021 53,154 25,628 78,782
Depreciation
At 1 July 2021 3,544 6,407 9,951
Charge for year 3,544 6,407 9,951
On disposals
Other adjustments
At 31 December 2021 7,088 12,814 19,902
Net book value
At 31 December 2021 46,066 12,814 58,880
At 30 June 2021 49,610 19,221 68,831

TANDEM CICLO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

4. Debtors

31 December 2021 30 June 2021
£ £
Trade debtors 13,715 3,030
Prepayments and accrued income 20,287
Other debtors 79,479 42,900
Total 113,481 45,930

TANDEM CICLO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

5. Creditors: amounts falling due within one year note

31 December 2021 30 June 2021
£ £
Bank loans and overdrafts 10,800
Trade creditors 39,669 18,574
Taxation and social security 5,285 13,447
Other creditors 30,677 26,122
Total 86,431 58,143

TANDEM CICLO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

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

31 December 2021 30 June 2021
£ £
Bank loans and overdrafts 34,700 50,000
Other creditors 96,360 100,000
Total 131,060 150,000

TANDEM CICLO LTD

Notes to the Financial Statements

for the Period Ended 31 December 2021

7. Financial Commitments

Total future minimum payments under non-cancellable operating leases at 31 December 2021: £1,120,000 (30 June 2021: £1,120,000)