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REGISTERED NUMBER: 06426921 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2022

for

Pit Bike Spares Ltd

Pit Bike Spares Ltd (Registered number: 06426921)






Contents of the Financial Statements
for the Year Ended 31 January 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Pit Bike Spares Ltd

Company Information
for the Year Ended 31 January 2022







DIRECTOR: A J Ryan





SECRETARY: Mrs B R Ryan





REGISTERED OFFICE: Abbeydale House
166 Easemore Road
Riverside
Worcestershire
B98 8HE





REGISTERED NUMBER: 06426921 (England and Wales)





ACCOUNTANTS: Brotherton & Co
Abbeydale House
166 Easemore Road
Riverside
Redditch
Worcestershire
B98 8HE

Pit Bike Spares Ltd (Registered number: 06426921)

Abridged Balance Sheet
31 January 2022

31.1.22 31.1.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,210 13,480
18,210 13,480

CURRENT ASSETS
Stocks 704,815 508,686
Debtors 83,964 92,297
Cash at bank and in hand 205,578 189,488
994,357 790,471
CREDITORS
Amounts falling due within one year 337,884 205,136
NET CURRENT ASSETS 656,473 585,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

674,683

598,815

CREDITORS
Amounts falling due after more than one year 43,328 50,000
NET ASSETS 631,355 548,815

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 631,354 548,814
SHAREHOLDERS' FUNDS 631,355 548,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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.

Pit Bike Spares Ltd (Registered number: 06426921)

Abridged Balance Sheet - continued
31 January 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 September 2022 and were signed by:





A J Ryan - Director


Pit Bike Spares Ltd (Registered number: 06426921)

Notes to the Financial Statements
for the Year Ended 31 January 2022

1. STATUTORY INFORMATION

Pit Bike Spares 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.

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 2008, is being amortised evenly over its estimated useful life of five 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 etc - 25% on reducing balance

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 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.

Pit Bike Spares Ltd (Registered number: 06426921)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2021
and 31 January 2022 10,000
AMORTISATION
At 1 February 2021
and 31 January 2022 10,000
NET BOOK VALUE

At 31 January 2022 -
At 31 January 2021 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2021 41,684
Additions 10,800
At 31 January 2022 52,484
DEPRECIATION
At 1 February 2021 28,204
Charge for year 6,070
At 31 January 2022 34,274
NET BOOK VALUE
At 31 January 2022 18,210
At 31 January 2021 13,480