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REGISTERED NUMBER: 08496557 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 June 2021

for

Maison Du Velo Limited

Maison Du Velo Limited (Registered number: 08496557)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Maison Du Velo Limited

Company Information
for the Year Ended 30 June 2021







DIRECTORS: G T Hough
Mrs T J Hough





REGISTERED OFFICE: 31 Lesbourne Road
Reigate
Surrey
RH2 7JS





REGISTERED NUMBER: 08496557 (England and Wales)





ACCOUNTANTS: Bullimores LLP
Chartered Accountants
Old Printers Yard
156 South Street
Dorking
Surrey
RH4 2HF

Maison Du Velo Limited (Registered number: 08496557)

Balance Sheet
30 June 2021

30.6.21 30.6.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 95,021 108,596
Tangible assets 5 44,859 62,899
139,880 171,495

CURRENT ASSETS
Stocks 269,000 239,022
Debtors 6 35,151 23,099
Cash at bank 11,812 121,119
315,963 383,240
CREDITORS
Amounts falling due within one year 7 193,792 200,766
NET CURRENT ASSETS 122,171 182,474
TOTAL ASSETS LESS CURRENT
LIABILITIES

262,051

353,969

CREDITORS
Amounts falling due after more than one year 8 (969,000 ) (991,800 )

ACCRUALS AND DEFERRED INCOME (261,333 ) (183,813 )
NET LIABILITIES (968,282 ) (821,644 )

Maison Du Velo Limited (Registered number: 08496557)

Balance Sheet - continued
30 June 2021

30.6.21 30.6.20
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 20 20
Share premium 74,990 74,990
Retained earnings (1,043,292 ) (896,654 )
(968,282 ) (821,644 )

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2022 and were signed on its behalf by:




G T Hough - Director



Mrs T J Hough - Director


Maison Du Velo Limited (Registered number: 08496557)

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

1. STATUTORY INFORMATION

Maison Du Velo 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 accounts have been prepared on a going concern basis. The company has negative reserves and is dependent on the continued support of personal loans from family members, E & J Hough.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten 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.

Intellectual Property are being amortised evenly over their estimated useful life of one years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the term of the lease
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each reporting date, assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment the recoverable amount of any affected asset is estimated and an impairment loss is recognised immediately in the income statement.

Government grants
Revenue based government grants are recognised in income over the periods in which the company recognises the related costs for which the grant is intended to compensate. Where grants are receivable as compensation for expenses already incurred or to provide immediate financial support with no future related costs grants will be recognised when they become receivable.

Maison Du Velo Limited (Registered number: 08496557)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

Stocks are valued on a first in first out basis and at the lower of their cost and net realisable value. A stocktake is conducted at the year end to identify any slow moving or damaged items and an appropriate provision is made.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 12 (2020 - 12 ) .

Maison Du Velo Limited (Registered number: 08496557)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 July 2020
and 30 June 2021 135,745 3 135,748
AMORTISATION
At 1 July 2020 27,149 3 27,152
Charge for year 13,575 - 13,575
At 30 June 2021 40,724 3 40,727
NET BOOK VALUE
At 30 June 2021 95,021 - 95,021
At 30 June 2020 108,596 - 108,596

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to Plant and and
leasehold property machinery fittings Totals
£    £    £    £    £   
COST
At 1 July 2020
and 30 June 2021 24,919 64,109 14,001 45,679 148,708
DEPRECIATION
At 1 July 2020 5,803 44,876 6,125 29,005 85,809
Charge for year 5,092 6,411 1,969 4,568 18,040
At 30 June 2021 10,895 51,287 8,094 33,573 103,849
NET BOOK VALUE
At 30 June 2021 14,024 12,822 5,907 12,106 44,859
At 30 June 2020 19,116 19,233 7,876 16,674 62,899

Maison Du Velo Limited (Registered number: 08496557)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.21 30.6.20
£    £   
Trade debtors - 340
Amounts owed by participating interests 23,431 13,793
Other debtors 11,720 8,966
35,151 23,099

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.21 30.6.20
£    £   
Trade creditors 146,884 128,105
Social security and other taxes 1,490 1,450
VAT 22,618 37,011
Other creditors 22,800 34,200
193,792 200,766

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.21 30.6.20
£    £   
Other loans > 5 years 969,000 969,000
Other creditors - 22,800
969,000 991,800

Amounts falling due in more than five years:

Repayable by instalments
Other loans > 5 years 969,000 969,000

9. OTHER FINANCIAL COMMITMENTS

The company had operating lease commitments that are payable within 1 year of £61,866 and commitments that are payable in 2 -5 years of £139,848.

10. RELATED PARTY DISCLOSURES

E & J Hough, shareholders of the company, have loaned the company £969,000 (2020 £969,000). The loan bears interest at 8%. An additional £180,000 was loaned to the company after the year end.

On the 3rd October 2017 Mrs J Hough registered a debenture with a fixed and floating charge over all the property and undertakings of the company to secure all present and future liabilities.

Maison Du Velo Limited (Registered number: 08496557)

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

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs J Hough.

12. CONSIDERATION OF THE BASIS OF THE PREPARATION OF THE FINANCIAL STATEMENTS

The Directors have considered the basis of preparation in the Directors Report.