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REGISTERED NUMBER: 07302772 (England and Wales)















Financial Statements for the Year Ended 30 November 2021

for

Allbikes and Allspares Limited

Allbikes and Allspares Limited (Registered number: 07302772)






Contents of the Financial Statements
for the Year Ended 30 November 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Allbikes and Allspares Limited

Company Information
for the Year Ended 30 November 2021







DIRECTORS: Mr P Hall
Mr K J Hall





REGISTERED OFFICE: C/o Haines Watts
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA





REGISTERED NUMBER: 07302772 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Allbikes and Allspares Limited (Registered number: 07302772)

Balance Sheet
30 November 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 78,881 87,112
Tangible assets 5 9,732 12,937
88,613 100,049

CURRENT ASSETS
Stocks 228,034 192,292
Debtors 6 1,642 34,976
229,676 227,268
CREDITORS
Amounts falling due within one year 7 155,743 165,162
NET CURRENT ASSETS 73,933 62,106
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,546

162,155

CREDITORS
Amounts falling due after more than one
year

8

(57,273

)

(75,248

)

PROVISIONS FOR LIABILITIES (2,433 ) (2,458 )
NET ASSETS 102,840 84,449

CAPITAL AND RESERVES
Called up share capital 10 90 90
Retained earnings 102,750 84,359
SHAREHOLDERS' FUNDS 102,840 84,449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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.

Allbikes and Allspares Limited (Registered number: 07302772)

Balance Sheet - continued
30 November 2021


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 Board of Directors and authorised for issue on 12 August 2022 and were signed on its behalf by:





Mr P Hall - Director


Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements
for the Year Ended 30 November 2021

1. STATUTORY INFORMATION

Allbikes and Allspares 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.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take in to account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts.

Turnover from the provision of goods and services is recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Government grants
Government grants receivable in relation to the Coronavirus Job Retention Scheme (CJRS) are recognised as income over the periods necessary to match them against the related costs which they are intended to compensate, on a systematic basis.

Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

2. ACCOUNTING POLICIES - continued

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

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2020
and 30 November 2021 164,621
AMORTISATION
At 1 December 2020 77,509
Amortisation for year 8,231
At 30 November 2021 85,740
NET BOOK VALUE
At 30 November 2021 78,881
At 30 November 2020 87,112

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2020
and 30 November 2021 939 2,507 55,439 6,763 65,648
DEPRECIATION
At 1 December 2020 735 1,963 43,613 6,400 52,711
Charge for year 31 81 2,956 137 3,205
At 30 November 2021 766 2,044 46,569 6,537 55,916
NET BOOK VALUE
At 30 November 2021 173 463 8,870 226 9,732
At 30 November 2020 204 544 11,826 363 12,937

Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 1,642 2,673
Other debtors - 32,303
1,642 34,976

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 56,941 76,734
Trade creditors 39,951 28,421
Taxation and social security 30,945 47,311
Other creditors 27,906 12,696
155,743 165,162

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 57,273 75,248

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 17,787

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank overdrafts 37,204 34,597
Bank loans 77,010 117,385
114,214 151,982

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
90 Ordinary £1 90 90