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REGISTERED NUMBER: 01748183 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Orwell Motor Cycles Limited

Orwell Motor Cycles Limited (Registered number: 01748183)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


Orwell Motor Cycles Limited (Registered number: 01748183)

Statement of Financial Position
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,466
Tangible assets 5 66,694 82,789
66,694 85,255

CURRENT ASSETS
Stocks 1,999,153 1,403,024
Debtors 6 99,599 40,746
Prepayments and accrued income 35,000 35,000
Cash at bank and in hand 123,766 20,988
2,257,518 1,499,758
CREDITORS
Amounts falling due within one year 7 1,443,876 826,349
NET CURRENT ASSETS 813,642 673,409
TOTAL ASSETS LESS CURRENT
LIABILITIES

880,336

758,664

CREDITORS
Amounts falling due after more than
one year

8

(26,667

)

(36,667

)

PROVISIONS FOR LIABILITIES (14,057 ) (12,959 )
NET ASSETS 839,612 709,038

Orwell Motor Cycles Limited (Registered number: 01748183)

Statement of Financial Position - continued
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 839,512 708,938
SHAREHOLDERS' FUNDS 839,612 709,038

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 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 20 October 2023 and were signed on its behalf by:




D C Willis - Director



R R Walters - Director


Orwell Motor Cycles Limited (Registered number: 01748183)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Orwell Motor Cycles Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01748183

Registered office: 200 Ranelagh Road
Ipswich
Suffolk
IP2 0AQ

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 represents the net value of completed sales of motorcycles, accessories and spare parts, together with the value of services provided, during the year, after deducting discounts and excluding value added tax.

Turnover is recognised when goods are physically delivered to, or service provided to, the customer.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Fixed Assets are stated at cost, less accumulated depreciation. Depreciation is provided annually at rates to write down the assets to their estimated residual values over their anticipated useful lives. The rates generally used are 33%, 25% and 15% on a reducing balance basis, 7% on a straight line basis, and where appropriate over the life of leases.

Orwell Motor Cycles Limited (Registered number: 01748183)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks of new motorcycles, clothing, accessories and spares are valued at the lower of their cost price and net realisable value. Stocks of used motorcycles are valued at the lower of their purchase or part exchange cost and net realisable value.

Obsolete and damaged items are excluded, unless there is a realistic prospect of sale when they are valued at their net realisable value.

Cost is determined by the actual amount paid after deducting discounts and bonuses. Motorcycles are valued individually; clothing, accessories and spares, are valued on a first in first out basis.

Net realisable value represents the estimated sales price, reduced by any additional costs of sale.

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.

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 23 (2022 - 21 ) .

Orwell Motor Cycles Limited (Registered number: 01748183)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2022
and 31 January 2023 12,996
AMORTISATION
At 1 February 2022 10,530
Charge for year 2,466
At 31 January 2023 12,996
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 2,466

5. TANGIBLE FIXED ASSETS
Plant and
machiner
etc
£   
COST
At 1 February 2022 255,752
Additions 2,252
At 31 January 2023 258,004
DEPRECIATION
At 1 February 2022 172,963
Charge for year 18,347
At 31 January 2023 191,310
NET BOOK VALUE
At 31 January 2023 66,694
At 31 January 2022 82,789

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 11,964 9,483
Other debtors 87,635 31,263
99,599 40,746

Orwell Motor Cycles Limited (Registered number: 01748183)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 6,667 6,667
Trade creditors 1,337,379 738,510
Taxation and social security 84,003 67,788
Other creditors 15,827 13,384
1,443,876 826,349

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 26,667 36,667

9. GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the year end of £457,957 (2022: £537,703)

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are David Willis and Robin Walters who jointly and equally own the company's parent company, Dehoops Moto Limited.