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REGISTERED NUMBER: SC302614 (Scotland)











Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Cyclehighlands Limited

Cyclehighlands Limited (Registered number: SC302614)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cyclehighlands Limited

Company Information
for the year ended 31 May 2023







DIRECTORS: R Watts
Mrs E A Watts





SECRETARY: Mrs E A Watts





REGISTERED OFFICE: 7 Hawthorn Crescent
Ballater
Aberdeenshire
AB35 5GJ





REGISTERED NUMBER: SC302614 (Scotland)





ACCOUNTANTS: Grampian Accounting
3 Prospect Place
Arnhall Business Park
Westhill
Aberdeenshire
AB32 6SY

Cyclehighlands Limited (Registered number: SC302614)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 253,395 268,929

CURRENT ASSETS
Stocks 490,303 404,799
Debtors 4 2,503 1,891
Cash at bank 186,588 165,888
679,394 572,578
CREDITORS
Amounts falling due within one year 5 192,045 188,507
NET CURRENT ASSETS 487,349 384,071
TOTAL ASSETS LESS CURRENT
LIABILITIES

740,744

653,000

CREDITORS
Amounts falling due after more than one
year

6

12,894

18,696
NET ASSETS 727,850 634,304

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 727,848 634,302
SHAREHOLDERS' FUNDS 727,850 634,304

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

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

Cyclehighlands Limited (Registered number: SC302614)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 31 August 2023 and were signed on its behalf by:





R Watts - Director


Cyclehighlands Limited (Registered number: SC302614)

Notes to the Financial Statements
for the year ended 31 May 2023

1. 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.

This is the first year in which the financial statements have been prepared in accordance with FRS 102. In previous year the financial statements have been prepared in accordance with FRS 105.

The adoption of FRS102 has not resulted in any changes and measurement principles previously adopted.

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.
Land and buildings - in accordance with the property
Plant and machinery etc - 20% on cost

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Cyclehighlands Limited (Registered number: SC302614)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

3. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 243,952 69,980 313,932
Additions - 7,599 7,599
Disposals - (29,349 ) (29,349 )
At 31 May 2023 243,952 48,230 292,182
DEPRECIATION
At 1 June 2022 - 45,003 45,003
Charge for year - 1,611 1,611
Eliminated on disposal - (7,827 ) (7,827 )
At 31 May 2023 - 38,787 38,787
NET BOOK VALUE
At 31 May 2023 243,952 9,443 253,395
At 31 May 2022 243,952 24,977 268,929

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 2,503 1,891

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,039 12,453
Trade creditors 93,747 85,680
Taxation and social security 55,023 23,225
Other creditors 33,236 67,149
192,045 188,507

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 12,894 18,696