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REGISTERED NUMBER: 02001267 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PEDALPOWER (MARKET HARBOROUGH)
LIMITED

PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PEDALPOWER (MARKET HARBOROUGH)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr SM Allen
Mr EJ Allen
Mrs CD Stell





REGISTERED OFFICE: 4 Berry Close
Great Bowden
Market Harborough
Leicestershire
LE16 7ES





REGISTERED NUMBER: 02001267 (England and Wales)

PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 161,163 151,708
Investments 5 117,490 122,252
278,653 273,960

CURRENT ASSETS
Stocks 38,079 26,738
Debtors 6 75,214 68,705
Cash at bank and in hand 74,559 17,054
187,852 112,497
CREDITORS
Amounts falling due within one year 7 128,506 125,030
NET CURRENT ASSETS/(LIABILITIES) 59,346 (12,533 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,999

261,427

CREDITORS
Amounts falling due after more than one
year

8

-

(7,972

)

PROVISIONS FOR LIABILITIES (12,633 ) (6,721 )
NET ASSETS 325,366 246,734

PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 125 125
Revaluation reserve 79,232 83,993
Capital redemption reserve 75 75
Retained earnings 245,934 162,541
SHAREHOLDERS' FUNDS 325,366 246,734

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 30 October 2023 and were signed on its behalf by:





Mr SM Allen - Director


PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

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


1. STATUTORY INFORMATION

Pedalpower (Market Harborough) 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover excludes discounts, rebates and is shown net of value added tax and other sales taxes.

Revenue is recognised by the company where the amount of revenue can be reliably measured; it is probable that future economic benefits will flow into the entity; and specific criteria have been met for each of the company's activities.

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
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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.

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.


PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 166,400 67,386 18,068 2,350 254,204
Additions - 18,600 1,384 - 19,984
At 31 March 2023 166,400 85,986 19,452 2,350 274,188
DEPRECIATION
At 1 April 2022 52,394 36,528 12,417 1,157 102,496
Charge for year 3,374 6,025 951 179 10,529
At 31 March 2023 55,768 42,553 13,368 1,336 113,025
NET BOOK VALUE
At 31 March 2023 110,632 43,433 6,084 1,014 161,163
At 31 March 2022 114,006 30,858 5,651 1,193 151,708

PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

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


5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 April 2022 122,252
Revaluations (4,762 )
At 31 March 2023 117,490
NET BOOK VALUE
At 31 March 2023 117,490
At 31 March 2022 122,252

Cost or valuation at 31 March 2023 is represented by:

Listed
investments
£   
Valuation in 2022 122,252
Valuation in 2023 (4,762 )
117,490

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 71,459 65,955
Bad debt provision (2,774 ) (2,774 )
Prepayments 6,529 5,524
75,214 68,705

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,972 8,696
Trade creditors 33,110 39,968
Taxation 24,984 11,483
Paye/Ni payable 786 840
VAT 16,052 11,541
Wages creditor 397 1,329
Directors' current accounts 41,120 47,488
Accruals and deferred income 4,085 3,685
128,506 125,030

PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 7,972

9. RELATED PARTY DISCLOSURES

At the year end, the company owed £50,120 (2022: £47,488) to the Directors of the company. No interest was charged on either balance.