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REGISTERED NUMBER: 09911049 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

DESTINATION BIKE LIMITED

DESTINATION BIKE LIMITED (REGISTERED NUMBER: 09911049)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DESTINATION BIKE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: Mr J P Dear
Mr D Jones
Mr I R Leeding
Mr M R Smith





REGISTERED OFFICE: Unit 6
Riverisde Business Centre
Brighton Road
Shoreham-by-Sea
West Sussex
BN43 6RE





REGISTERED NUMBER: 09911049 (England and Wales)





ACCOUNTANTS: Peter Jarman LLP
trading as
Peter Jarman & Company
1 Harbour House
Harbour Way
Shoreham by Sea
West Sussex
BN43 5HZ

DESTINATION BIKE LIMITED (REGISTERED NUMBER: 09911049)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 6,024 10,373

CURRENT ASSETS
Stocks 71,500 45,000
Debtors 5 739 -
Cash at bank and in hand 32,887 38,975
105,126 83,975
CREDITORS
Amounts falling due within one year 6 (66,363 ) (34,908 )
NET CURRENT ASSETS 38,763 49,067
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,787

59,440

CREDITORS
Amounts falling due after more than one
year

7

(21,877

)

(27,500

)

PROVISIONS FOR LIABILITIES 8 - (1,971 )
NET ASSETS 22,910 29,969

CAPITAL AND RESERVES
Called up share capital 60,000 57,000
Retained earnings (37,090 ) (27,031 )
22,910 29,969

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 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.

DESTINATION BIKE LIMITED (REGISTERED NUMBER: 09911049)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by:




Mr J P Dear - Director Mr I R Leeding - Director




Mr M R Smith - Director Mr D Jones - Director


DESTINATION BIKE LIMITED (REGISTERED NUMBER: 09911049)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Destination Bike 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.

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.
Plant and machinery etc - 15% on cost and 10% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 5 (2020 - 4 ) .

DESTINATION BIKE LIMITED (REGISTERED NUMBER: 09911049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 33,940
DEPRECIATION
At 1 January 2021 23,567
Charge for year 4,349
At 31 December 2021 27,916
NET BOOK VALUE
At 31 December 2021 6,024
At 31 December 2020 10,373

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 739 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 5,764 2,500
Trade creditors 30,669 -
Taxation and social security 8,965 5,557
Other creditors 20,965 26,851
66,363 34,908

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 21,877 27,500

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 3,500

8. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax - 1,971

DESTINATION BIKE LIMITED (REGISTERED NUMBER: 09911049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2021 1,971
Capital allowances in advance (1,971 )
of depreciation
Balance at 31 December 2021 -