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REGISTERED NUMBER: NI625757 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

FOR

BELFAST PEDAL TOUR LTD

BELFAST PEDAL TOUR LTD (REGISTERED NUMBER: NI625757)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


BELFAST PEDAL TOUR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2022







DIRECTORS: R Kenna
Ms J G Kenna





REGISTERED OFFICE: Spencer House
7-11 Lower Garfield Street
Belfast
BT1 1FT





REGISTERED NUMBER: NI625757 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

BELFAST PEDAL TOUR LTD (REGISTERED NUMBER: NI625757)

BALANCE SHEET
31 JULY 2022

31.7.22 31.7.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 92,744 47,718

CURRENT ASSETS
Debtors 5 183,197 185,781
Cash at bank and in hand 6,790 41,282
189,987 227,063
CREDITORS
Amounts falling due within one year 6 222,897 185,167
NET CURRENT (LIABILITIES)/ASSETS (32,910 ) 41,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,834

89,614

CREDITORS
Amounts falling due after more than one
year

7

(85,075

)

(90,771

)

PROVISIONS FOR LIABILITIES (9,491 ) (9,066 )
NET LIABILITIES (34,732 ) (10,223 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (34,734 ) (10,225 )
(34,732 ) (10,223 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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.

BELFAST PEDAL TOUR LTD (REGISTERED NUMBER: NI625757)

BALANCE SHEET - continued
31 JULY 2022


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 3 November 2023 and were signed on its behalf by:





Ms J G Kenna - Director


BELFAST PEDAL TOUR LTD (REGISTERED NUMBER: NI625757)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022


1. STATUTORY INFORMATION

Belfast Pedal Tour Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Going concern
We draw attention to the fact that the company is reliant on the continued support of the bank. The company has funding facilities which are reviewed on an ongoing basis. The director is confident that these lending facilities shall be renewed on a suitable basis to ensure that the company remains a going concern for the foreseeable future. The ability to continue as a going concern is dependent on this matter being resolved.

Accordingly, the director believes that it is appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would be required if this basis was not appropriate.

Subsequent to the year-end COVID-19 has continued to cause significant disruption to economic activity worldwide, which has significantly impacted globally on a large number of businesses and their operations. Further information regarding the impact to the business of this event is provided in the subsequent events note to the financial statements.

We continue to monitor this ever-evolving situation and the associated risks to the business.

The company took the following measures relating to going concern;

- Coronavirius Job retention scheme
- Bounce back loan.

The above measures alongside robust cost containment shall continue to ensure that the entity operates as a viable going concern.

Due to the nature of the event, and the large number of uncertain variables involved, it is not possible at this stage to determine the longer-term implications of the event on the Company.

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.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 25% on cost


BELFAST PEDAL TOUR LTD (REGISTERED NUMBER: NI625757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures,
to Plant and fittings
property machinery & equipment
£    £    £   
COST
At 1 August 2021 - 116,641 750
Additions 47,547 8,249 20,023
At 31 July 2022 47,547 124,890 20,773
DEPRECIATION
At 1 August 2021 - 72,084 175
Charge for year 4,755 31,223 4,018
At 31 July 2022 4,755 103,307 4,193
NET BOOK VALUE
At 31 July 2022 42,792 21,583 16,580
At 31 July 2021 - 44,557 575

BELFAST PEDAL TOUR LTD (REGISTERED NUMBER: NI625757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2021 - 7,035 124,426
Additions 10,600 1,551 87,970
At 31 July 2022 10,600 8,586 212,396
DEPRECIATION
At 1 August 2021 - 4,449 76,708
Charge for year 2,120 828 42,944
At 31 July 2022 2,120 5,277 119,652
NET BOOK VALUE
At 31 July 2022 8,480 3,309 92,744
At 31 July 2021 - 2,586 47,718

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.22 31.7.21
£    £   
Amounts owed by group undertakings - 4,638
Other debtors 29,363 36,189
Directors' current accounts 118,812 130,747
VAT 33,555 12,164
Prepayments 1,467 2,043
183,197 185,781

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.22 31.7.21
£    £   
Other loans 26,866 31,989
Trade creditors 35,353 18,081
Amounts owed to group undertakings 20,705 -
Tax 53,563 60,366
Social security and other taxes 74,444 37,596
Credit Card 872 1,305
Accrued expenses 11,094 35,830
222,897 185,167

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.22 31.7.21
£    £   
Other loans 85,075 90,771

BELFAST PEDAL TOUR LTD (REGISTERED NUMBER: NI625757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2022


8. CONTINGENT LIABILITIES

A contingent liability may exist in respect of a repayment of grant income to HM Revenue and Customs should the conditions under which a grant was awarded to the company not be met. Due to the nature of these contingencies, it is not currently possible to estimate the likelihood of this occurring, nor quantify the financial effect or provide an indication of timing as to the potential liability that may arise.