IRIS Accounts Production v23.2.0.158 00465317 Board of Directors Board of Directors 1.2.22 31.1.23 31.1.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh004653172022-01-31004653172023-01-31004653172022-02-012023-01-31004653172021-01-31004653172021-02-012022-01-31004653172022-01-3100465317ns10:Originalns15:EnglandWales2022-02-012023-01-3100465317ns14:PoundSterlingns10:Original2022-02-012023-01-3100465317ns10:Originalns10:Director12022-02-012023-01-3100465317ns10:Original2022-02-012023-01-3100465317ns10:Originalns10:Director22022-02-012023-01-3100465317ns10:Original2023-01-3100465317ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-012023-01-3100465317ns10:Originalns10:SmallEntities2022-02-012023-01-3100465317ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-012023-01-3100465317ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3100465317ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-012023-01-3100465317ns10:Originalns10:FullAccounts2022-02-012023-01-3100465317ns10:Originalns10:RegisteredOffice2022-02-012023-01-3100465317ns10:Original2022-01-3100465317ns10:Originalns5:CurrentFinancialInstruments2023-01-3100465317ns10:Originalns5:CurrentFinancialInstruments2022-01-3100465317ns10:Originalns5:Non-currentFinancialInstruments2023-01-3100465317ns10:Originalns5:Non-currentFinancialInstruments2022-01-3100465317ns5:ShareCapitalns10:Original2023-01-3100465317ns5:ShareCapitalns10:Original2022-01-3100465317ns10:Originalns5:RevaluationReserve2023-01-3100465317ns10:Originalns5:RevaluationReserve2022-01-3100465317ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-3100465317ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-3100465317ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-02-012023-01-3100465317ns10:Originalns5:FurnitureFittings2022-02-012023-01-3100465317ns10:Original2021-02-012022-01-3100465317ns10:Originalns5:LandBuildings2022-01-3100465317ns10:Originalns5:FurnitureFittings2022-01-3100465317ns10:Original2022-01-3100465317ns10:Originalns5:LandBuildings2022-02-012023-01-3100465317ns10:Originalns5:LandBuildings2023-01-3100465317ns10:Originalns5:FurnitureFittings2023-01-3100465317ns10:Originalns5:LandBuildings2022-01-3100465317ns10:Originalns5:FurnitureFittings2022-01-3100465317ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3100465317ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-3100465317ns5:Securedns10:Original2023-01-3100465317ns5:Securedns10:Original2022-01-31
REGISTERED NUMBER: 00465317 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

BILL HARGREAVES CYCLES LTD.

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)






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


BILL HARGREAVES CYCLES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Edward M Vokes
Andrea Vokes





REGISTERED OFFICE: 27 Bradford Road
Dewsbury
West Yorkshire
WF13 2DU





REGISTERED NUMBER: 00465317 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
First Floor, Unit 12
Pennine Business Park
Longbow Close, Bradley
Huddersfield
West Yorkshire
HD2 1GQ

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 140,243 144,821
Investment property 5 200,000 200,000
340,243 344,821

CURRENT ASSETS
Stocks 723,638 411,486
Debtors 6 14,218 6,660
Cash at bank and in hand 130 51,199
737,986 469,345
CREDITORS
Amounts falling due within one year 7 671,360 476,420
NET CURRENT ASSETS/(LIABILITIES) 66,626 (7,075 )
TOTAL ASSETS LESS CURRENT LIABILITIES 406,869 337,746

CREDITORS
Amounts falling due after more than one
year

8

(63,099

)

-

PROVISIONS FOR LIABILITIES (36,515 ) (36,309 )
NET ASSETS 307,255 301,437

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

BALANCE SHEET - continued
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,800 1,800
Revaluation reserve 156,805 156,805
Profit and loss account 148,650 142,832
307,255 301,437

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2023 and were signed on its behalf by:




Andrea Vokes - Director



Edward M Vokes - Director


BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

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

1. STATUTORY INFORMATION

Bill Hargreaves Cycles Ltd. 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 as modified by the revaluation of certain assets.

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.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Profit and Loss Account, 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.


BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

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

2. ACCOUNTING POLICIES - continued
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.

INCOME RECOGNITION
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

FINANCE COSTS OF DEBT
The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 210,848 14,744 225,592
DEPRECIATION
At 1 February 2022 67,470 13,301 80,771
Charge for year 4,217 361 4,578
At 31 January 2023 71,687 13,662 85,349
NET BOOK VALUE
At 31 January 2023 139,161 1,082 140,243
At 31 January 2022 143,378 1,443 144,821

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 200,000
NET BOOK VALUE
At 31 January 2023 200,000
At 31 January 2022 200,000

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2019 189,656
Cost 10,344
200,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 14,218 6,660

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 33,036 -
Trade creditors 365,056 228,664
Taxation and social security 4,892 10,859
Other creditors 268,376 236,897
671,360 476,420

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 63,099 -

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 6,941 -
Bank loans 89,194 -
96,135 -

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £8,937 (2022 - £8,538). Contributions totalling £NIL (2022 - £NIL) were payable to the fund at the year end and are included in creditors.

11. RELATED PARTY DISCLOSURES

Edward M Vokes and Andrea Vokes has control over the majority of the shares in the company, and together with there involvement in its day-to-day management, are deemed to be the controlling parties for the purposes of Financial Reporting Standard No. 102.

Included within creditors are the following loans from directors, Edward M Vokes £245,844 (2022 - £207,105).