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CYCLEHOUSE LIMITED

Unaudited Financial Statements

for the Year Ended 28th February 2023






CYCLEHOUSE LIMITED (REGISTERED NUMBER: 05618814)






Contents of the Financial Statements
for the year ended 28th February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CYCLEHOUSE LIMITED

Company Information
for the year ended 28th February 2023







DIRECTOR: S M Owen





SECRETARY: Mrs C A Burkey-Owen





REGISTERED OFFICE: Unit 1
Buckley Street
Warrington
Cheshire
WA2 7NS





REGISTERED NUMBER: 05618814 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

CYCLEHOUSE LIMITED (REGISTERED NUMBER: 05618814)

Balance Sheet
28th February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,829 17,120

CURRENT ASSETS
Stocks 161,438 166,186
Debtors 5 194 -
Cash at bank and in hand 4,811 12,780
166,443 178,966
CREDITORS
Amounts falling due within one year 6 97,486 103,568
NET CURRENT ASSETS 68,957 75,398
TOTAL ASSETS LESS CURRENT LIABILITIES 81,786 92,518

CREDITORS
Amounts falling due after more than one
year

7

(12,080

)

(45,123

)

PROVISIONS FOR LIABILITIES (3,207 ) (3,227 )
NET ASSETS 66,499 44,168

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 66,497 44,166
66,499 44,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 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.

CYCLEHOUSE LIMITED (REGISTERED NUMBER: 05618814)

Balance Sheet - continued
28th February 2023


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 director and authorised for issue on 4th October 2023 and were signed by:





S M Owen - Director


CYCLEHOUSE LIMITED (REGISTERED NUMBER: 05618814)

Notes to the Financial Statements
for the year ended 28th February 2023

1. STATUTORY INFORMATION

Cyclehouse 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% 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.

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.

CYCLEHOUSE LIMITED (REGISTERED NUMBER: 05618814)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to/from related parties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st March 2022
and 28th February 2023 80,511 6,481 86,992
DEPRECIATION
At 1st March 2022 63,530 6,342 69,872
Charge for year 4,245 46 4,291
At 28th February 2023 67,775 6,388 74,163
NET BOOK VALUE
At 28th February 2023 12,736 93 12,829
At 28th February 2022 16,981 139 17,120

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 194 -

CYCLEHOUSE LIMITED (REGISTERED NUMBER: 05618814)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 27,590 19,934
Trade creditors 30,132 28,441
Taxation and social security 33,399 40,007
Other creditors 6,365 15,186
97,486 103,568

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 12,080 45,123

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 were paid to the director .