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REGISTERED NUMBER: 05581858 (England and Wales)













Unaudited Financial Statements for the Year Ended 31 December 2021

for

Islabikes Ltd

Islabikes Ltd (Registered number: 05581858)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Islabikes Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTOR: T Bundegaard-Goodall





REGISTERED OFFICE: Unit 10
Lower Barns Business Park
Ludford
Ludlow
Shropshire
SY8 4DS





REGISTERED NUMBER: 05581858 (England and Wales)





ACCOUNTANTS: Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Islabikes Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Islabikes Ltd for the year ended 31 December 2021 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Islabikes Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Islabikes Ltd and state those matters that we have agreed to state to the director of Islabikes Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Islabikes Ltd and its director for our work or for this report.

It is your duty to ensure that Islabikes Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Islabikes Ltd. You consider that Islabikes Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Islabikes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS


15 August 2022

Islabikes Ltd (Registered number: 05581858)

Balance Sheet
31 December 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 350,481 370,763
Investments 5 16 10,741
350,497 381,504

CURRENT ASSETS
Stocks 1,310,675 886,860
Debtors 6 2,262,628 34,935
Cash at bank and in hand 1,155,137 3,432,754
4,728,440 4,354,549
CREDITORS
Amounts falling due within one year 7 (1,101,225 ) (525,170 )
NET CURRENT ASSETS 3,627,215 3,829,379
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,977,712

4,210,883

PROVISIONS FOR LIABILITIES (29,585 ) (28,471 )
NET ASSETS 3,948,127 4,182,412

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 3,947,927 4,182,212
3,948,127 4,182,412

Islabikes Ltd (Registered number: 05581858)

Balance Sheet - continued
31 December 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2022 and were signed by:





T Bundegaard-Goodall - Director


Islabikes Ltd (Registered number: 05581858)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Islabikes Ltd 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.

Preparation of consolidated financial statements
The financial statements contain information about Islabikes Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.
Improvements to leasehold property - Straight line over 10 years
Plant and machinery - 25% on reducing balance
Fixtures, fittings & equipment - Straight line over 1 years, Straight line over 3 years and straight line over 5 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 29 (2020 - 31 ) .

Islabikes Ltd (Registered number: 05581858)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Improvements
to Fixtures,
leasehold Plant and fittings
property machinery & equipment Totals
£    £    £    £   
COST
At 1 January 2021 280,542 203,320 97,857 581,719
Additions - 59,286 14,832 74,118
Disposals - (3,938 ) - (3,938 )
At 31 December 2021 280,542 258,668 112,689 651,899
DEPRECIATION
At 1 January 2021 43,895 116,069 50,992 210,956
Charge for year 28,046 40,153 22,510 90,709
Eliminated on disposal - (247 ) - (247 )
At 31 December 2021 71,941 155,975 73,502 301,418
NET BOOK VALUE
At 31 December 2021 208,601 102,693 39,187 350,481
At 31 December 2020 236,647 87,251 46,865 370,763

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2021 10,741
Disposals (10,725 )
At 31 December 2021 16
NET BOOK VALUE
At 31 December 2021 16
At 31 December 2020 10,741

Islabikes Ltd (Registered number: 05581858)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors - 876
Amounts owed by group undertakings 1,944,457 -
Other debtors 318,171 34,059
2,262,628 34,935

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 254,551 113,701
Amounts owed to group undertakings - 15,119
Taxation and social security 52,647 365,553
Other creditors 794,027 30,797
1,101,225 525,170

8. ULTIMATE CONTROLLING PARTY

As of 2nd March 2021, the company is a 100% wholly owned subsidiary of Sruth Limited which is registered at Unit 10 Lower Barns Road, Ludford, Ludlow, Shropshire, United Kingdom, SY8 4DS.