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REGISTERED NUMBER: 09119917 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Spokes of Bagshot Limited

Spokes of Bagshot Limited (Registered number: 09119917)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spokes of Bagshot Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: D J Medcraft
J A A Thompson





SECRETARY: D J Medcraft





REGISTERED OFFICE: Brackenwood House
Kimbell Road
Basingstoke
Hampshire
RG22 4AT





BUSINESS ADDRESS: 55 High Street
Bagshot
Surrey
GU19 5AH





REGISTERED NUMBER: 09119917 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Spokes of Bagshot Limited (Registered number: 09119917)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,625 8,125
Tangible assets 5 27,123 37,766
32,748 45,891

CURRENT ASSETS
Stocks 804,316 845,057
Debtors 6 103,871 104,840
Cash at bank and in hand 16,447 26,190
924,634 976,087
CREDITORS
Amounts falling due within one year 7 544,911 587,819
NET CURRENT ASSETS 379,723 388,268
TOTAL ASSETS LESS CURRENT
LIABILITIES

412,471

434,159

CREDITORS
Amounts falling due after more than one
year

8

(1,963

)

-

PROVISIONS FOR LIABILITIES 10 (3,434 ) (2,761 )
NET ASSETS 407,074 431,398

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 407,072 431,396
SHAREHOLDERS' FUNDS 407,074 431,398

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

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

Spokes of Bagshot Limited (Registered number: 09119917)

Balance Sheet - continued
31 July 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 Statement of Income and Retained Earnings 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 J Medcraft - Director



J A A Thompson - Director


Spokes of Bagshot Limited (Registered number: 09119917)

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


1. STATUTORY INFORMATION

Spokes of Bagshot 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvements - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Office equipment - 25% 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.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Spokes of Bagshot Limited (Registered number: 09119917)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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, adjusted for indexation where applicable.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 August 2022
and 31 July 2023 10,000
AMORTISATION
At 1 August 2022 1,875
Amortisation for year 2,500
At 31 July 2023 4,375
NET BOOK VALUE
At 31 July 2023 5,625
At 31 July 2022 8,125

Spokes of Bagshot Limited (Registered number: 09119917)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
Improvements machinery fittings
£    £    £   
COST
At 1 August 2022 60,617 7,944 13,368
Additions - - -
At 31 July 2023 60,617 7,944 13,368
DEPRECIATION
At 1 August 2022 45,508 6,504 9,481
Charge for year 6,062 393 1,664
At 31 July 2023 51,570 6,897 11,145
NET BOOK VALUE
At 31 July 2023 9,047 1,047 2,223
At 31 July 2022 15,109 1,440 3,887

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022 21,088 14,741 117,758
Additions - 2,507 2,507
At 31 July 2023 21,088 17,248 120,265
DEPRECIATION
At 1 August 2022 5,272 13,227 79,992
Charge for year 4,218 813 13,150
At 31 July 2023 9,490 14,040 93,142
NET BOOK VALUE
At 31 July 2023 11,598 3,208 27,123
At 31 July 2022 15,816 1,514 37,766

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 83,925 93,655
Other debtors 19,946 11,185
103,871 104,840

Spokes of Bagshot Limited (Registered number: 09119917)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 5,425 -
Trade creditors 481,613 486,437
Taxation and social security 46,650 67,536
Other creditors 11,223 33,846
544,911 587,819

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 1,963 -

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.23 31.7.22
£    £   
Within one year 28,500 28,500
Between one and five years 16,625 45,125
45,125 73,625

10. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax 3,434 2,761

Deferred
tax
£   
Balance at 1 August 2022 2,761
Accelerated capital allowances 673
Balance at 31 July 2023 3,434

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
2 Ordinary £1 2 2