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REGISTERED NUMBER: 10151404 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

WIGHT BIKE ECO-SOLUTIONS LIMITED

WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

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


WIGHT BIKE ECO-SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr J Smith





REGISTERED OFFICE: 1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA





REGISTERED NUMBER: 10151404 (England and Wales)





ACCOUNTANTS: Mackenzies
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 170 170
Tangible assets 5 12,212 15,087
12,382 15,257

CURRENT ASSETS
Stocks 6 112,615 169,212
Debtors 7 850 3,030
Cash at bank 107,641 160,169
221,106 332,411
CREDITORS
Amounts falling due within one year 8 87,393 164,118
NET CURRENT ASSETS 133,713 168,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,095

183,550

CREDITORS
Amounts falling due after more than one
year

9

18,000

27,000
NET ASSETS 128,095 156,550

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 127,995 156,450
SHAREHOLDERS' FUNDS 128,095 156,550

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 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.

WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2023 and were signed by:





Mr J Smith - Director


WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

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


1. STATUTORY INFORMATION

Wight Bike Eco-Solutions 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

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 2 (2022 - 3 ) .

WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 June 2022
and 31 May 2023 170
NET BOOK VALUE
At 31 May 2023 170
At 31 May 2022 170

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 June 2022 2,897 3,490 16,000 2,746 25,133
Additions - - - 795 795
At 31 May 2023 2,897 3,490 16,000 3,541 25,928
DEPRECIATION
At 1 June 2022 600 1,245 7,000 1,201 10,046
Charge for year 290 561 2,250 569 3,670
At 31 May 2023 890 1,806 9,250 1,770 13,716
NET BOOK VALUE
At 31 May 2023 2,007 1,684 6,750 1,771 12,212
At 31 May 2022 2,297 2,245 9,000 1,545 15,087

6. STOCKS
2023 2022
£ £
Stocks 112,615 169,212

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors - 2,180
Other debtors 100 100
Prepayments 750 750
850 3,030

Other debtors consist of an amount receivable on account of unpaid shares.

WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 9,000 9,000
Trade creditors 13,810 76,948
Tax 1,231 22,917
VAT 13,480 14,482
Other creditors 1,629 1,619
Directors' current accounts 47,989 38,898
Accrued expenses 254 254
87,393 164,118

Other creditors relate to a loan of £1,500 (2022: £1,500), an amount due on account of pension of £126 (2022: £119).

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans - 2-5 years 18,000 27,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J Smith.