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Company Registration No. 07364163 (England and Wales)
Action Bikes Brighton Limited Unaudited accounts for the year ended 31 August 2021
Action Bikes Brighton Limited Unaudited accounts Contents
Page
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Action Bikes Brighton Limited Company Information for the year ended 31 August 2021
Director
Robert Huddleston
Company Number
07364163 (England and Wales)
Registered Office
93 London Road Brighton BN1 4JF England
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Action Bikes Brighton Limited Statement of financial position as at 31 August 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
846 
670 
Current assets
Inventories
42,124 
20,000 
Cash at bank and in hand
44,567 
66,649 
86,691 
86,649 
Creditors: amounts falling due within one year
(91,509)
(78,272)
Net current (liabilities)/assets
(4,818)
8,377 
Total assets less current liabilities
(3,972)
9,047 
Creditors: amounts falling due after more than one year
(37,500)
(50,000)
Net liabilities
(41,472)
(40,953)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(41,473)
(40,954)
Shareholders' funds
(41,472)
(40,953)
For the year ending 31 August 2021 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 August 2022 and were signed on its behalf by
Robert Huddleston Director Company Registration No. 07364163
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Action Bikes Brighton Limited Notes to the Accounts for the year ended 31 August 2021
1
Statutory information
Action Bikes Brighton Limited is a private company, limited by shares, registered in England and Wales, registration number 07364163. The registered office is 93 London Road, Brighton, BN1 4JF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% on a reducing balance basis
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Going concern
The director has confirmed that he will continue to give financial support to the company until such time as its position improves. In addition the director has confirmed that he will not recall his loans within 12 months. The director considers that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.
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Action Bikes Brighton Limited Notes to the Accounts for the year ended 31 August 2021
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 September 2020
5,460 
Additions
270 
At 31 August 2021
5,730 
Depreciation
At 1 September 2020
4,790 
Charge for the year
94 
At 31 August 2021
4,884 
Net book value
At 31 August 2021
846 
At 31 August 2020
670 
5
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
10,000 
- 
VAT
37,586 
31,414 
Trade creditors
11,090 
- 
Other creditors
14,667 
20,379 
Loans from directors
15,891 
24,204 
Accruals
2,275 
2,275 
91,509 
78,272 
6
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
37,500 
50,000 
7
Share capital
2021 
2020 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Average number of employees
During the year the average number of employees was 3 (2020: 3).
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