IRIS Accounts Production v23.3.0.418 06390305 director 1.2.22 31.1.23 31.1.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063903052022-01-31063903052023-01-31063903052022-02-012023-01-31063903052021-01-31063903052021-02-012022-01-31063903052022-01-3106390305ns10:Originalns15:EnglandWales2022-02-012023-01-3106390305ns14:PoundSterlingns10:Original2022-02-012023-01-3106390305ns10:Originalns10:Director12022-02-012023-01-3106390305ns10:Original2022-02-012023-01-3106390305ns10:Original2023-01-3106390305ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-012023-01-3106390305ns10:Originalns10:SmallEntities2022-02-012023-01-3106390305ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-012023-01-3106390305ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3106390305ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-012023-01-3106390305ns10:Originalns10:FullAccounts2022-02-012023-01-3106390305ns10:CompanySecretary1ns10:Original2022-02-012023-01-3106390305ns10:Originalns10:RegisteredOffice2022-02-012023-01-3106390305ns10:Original2022-01-3106390305ns10:Originalns5:CurrentFinancialInstruments2023-01-3106390305ns10:Originalns5:CurrentFinancialInstruments2022-01-3106390305ns10:Originalns5:Non-currentFinancialInstruments2023-01-3106390305ns10:Originalns5:Non-currentFinancialInstruments2022-01-3106390305ns5:ShareCapitalns10:Original2023-01-3106390305ns5:ShareCapitalns10:Original2022-01-3106390305ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-3106390305ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-3106390305ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-02-012023-01-3106390305ns10:Originalns5:PlantMachinery2022-02-012023-01-3106390305ns10:Originalns5:FurnitureFittings2022-02-012023-01-3106390305ns10:Originalns5:MotorVehicles2022-02-012023-01-3106390305ns10:Original2021-02-012022-01-3106390305ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-01-3106390305ns10:Originalns5:PlantMachinery2022-01-3106390305ns10:Originalns5:FurnitureFittings2022-01-3106390305ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-3106390305ns10:Originalns5:PlantMachinery2023-01-3106390305ns10:Originalns5:FurnitureFittings2023-01-3106390305ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-01-3106390305ns10:Originalns5:PlantMachinery2022-01-3106390305ns10:Originalns5:FurnitureFittings2022-01-3106390305ns10:Originalns5:MotorVehicles2022-01-3106390305ns10:Originalns5:ComputerEquipment2022-01-3106390305ns10:Original2022-01-3106390305ns10:Originalns5:ComputerEquipment2022-02-012023-01-3106390305ns10:Originalns5:MotorVehicles2023-01-3106390305ns10:Originalns5:ComputerEquipment2023-01-3106390305ns10:Originalns5:MotorVehicles2022-01-3106390305ns10:Originalns5:ComputerEquipment2022-01-3106390305ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3106390305ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-3106390305ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-3106390305ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-01-3106390305ns5:Securedns10:Original2023-01-3106390305ns5:Securedns10:Original2022-01-31
REGISTERED NUMBER: 06390305 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

NEWQUAY BOARDRIDERS LIMITED

NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWQUAY BOARDRIDERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: J A Fordy





SECRETARY: Ms C L Parrett





REGISTERED OFFICE: The Ranch
Cargreen
Saltash
Cornwall
PL12 6QQ





REGISTERED NUMBER: 06390305 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 122,993 134,279

CURRENT ASSETS
Stocks 85,184 53,240
Debtors 5 24,725 23,200
Cash in hand 1,252 1,252
111,161 77,692
CREDITORS
Amounts falling due within one year 6 253,906 164,442
NET CURRENT LIABILITIES (142,745 ) (86,750 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,752

)

47,529

CREDITORS
Amounts falling due after more than one
year

7

54,361

96,942
NET LIABILITIES (74,113 ) (49,413 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (74,213 ) (49,513 )
SHAREHOLDERS' FUNDS (74,113 ) (49,413 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

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

NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)

BALANCE SHEET - continued
31 JANUARY 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 9 October 2023 and were signed by:





J A Fordy - Director


NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Newquay Boardriders 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.
Short leasehold - over the remaining term of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 February 2022 250,000 2,620 202,347
Additions - 179 4,345
At 31 January 2023 250,000 2,799 206,692
DEPRECIATION
At 1 February 2022 140,000 2,007 184,747
Charge for year 10,000 153 4,400
At 31 January 2023 150,000 2,160 189,147
NET BOOK VALUE
At 31 January 2023 100,000 639 17,545
At 31 January 2022 110,000 613 17,600

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 14,571 766 470,304
Additions - 260 4,784
At 31 January 2023 14,571 1,026 475,088
DEPRECIATION
At 1 February 2022 9,011 260 336,025
Charge for year 1,390 127 16,070
At 31 January 2023 10,401 387 352,095
NET BOOK VALUE
At 31 January 2023 4,170 639 122,993
At 31 January 2022 5,560 506 134,279

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 1,312 669
Other debtors 17,877 17,877
Tax 1,439 1,439
Prepayments 4,097 3,215
24,725 23,200

NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 94,341 60,876
Trade creditors 139,294 81,429
Other creditors 5,739 7,189
Social security and other taxes 12,944 6,739
Directors' current accounts 352 7,044
Accrued expenses 1,236 1,165
253,906 164,442

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans - 2-5 years 54,361 96,942

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank overdrafts 71,868 60,876

The bank overdraft is secured by means of an unlimited debenture over the company's assets, dated 5 June 2008. A personal guarantee has also been given by the company's director, Mr JA Fordy.

9. RELATED PARTY DISCLOSURES

The company is controlled by its director, by virtue of the fact that he owns 100% of the company's ordinary issued share capital.

During the year the company incurred management charges of £40,000 from Ride 55 Limited, a company also under the control of Mr J A Fordy.

At the year end the company had a loan to Burfoot Automotive Ltd outstanding of £17,877 (2022: £17,877), a company which Mr J A Fordy is a shareholder and director.