Company Registration No. 02579546 (England and Wales)
Chaineys Cycles Limited
Unaudited accounts
for the year ended 31 May 2023
Chaineys Cycles Limited
Unaudited accounts
Contents
Chaineys Cycles Limited
Company Information
for the year ended 31 May 2023
Company Number
02579546 (England and Wales)
Registered Office
7 Oxenden Court
Leighton Buzzard
Beds
LU7 3HD
Accountants
Balanced Books Accountancy Services Ltd
56 Station Road
Station road
Stanbridge
Beds
LU7 9JF
Chaineys Cycles Limited
Statement of financial position
as at 31 May 2023
Tangible assets
2,841
3,788
Inventories
119,887
102,215
Cash at bank and in hand
28,605
28,528
Creditors: amounts falling due within one year
(103,207)
(95,607)
Net current assets
48,590
57,722
Total assets less current liabilities
51,431
61,510
Creditors: amounts falling due after more than one year
(31,567)
(41,923)
Called up share capital
24
24
Profit and loss account
19,840
19,563
Shareholders' funds
19,864
19,587
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 November 2023 and were signed on its behalf by
Matthew Morton
Director
Company Registration No. 02579546
Chaineys Cycles Limited
Notes to the Accounts
for the year ended 31 May 2023
Chaineys Cycles Limited is a private company, limited by shares, registered in England and Wales, registration number 02579546. The registered office is 7 Oxenden Court, Leighton Buzzard, Beds, LU7 3HD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% RB
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2022
14,170
6,175
20,345
At 31 May 2023
14,170
6,175
20,345
At 1 June 2022
11,662
4,895
16,557
Charge for the year
627
320
947
At 31 May 2023
12,289
5,215
17,504
At 31 May 2023
1,881
960
2,841
At 31 May 2022
2,508
1,280
3,788
Amounts falling due within one year
Accrued income and prepayments
3,305
-
Chaineys Cycles Limited
Notes to the Accounts
for the year ended 31 May 2023
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
31,509
25,249
Taxes and social security
13,228
11,842
Other creditors
39,311
39,458
Loans from directors
8,900
8,900
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).