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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
Page
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Chaineys Cycles Limited Company Information for the year ended 31 May 2023
Director
Matthew Morton
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
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Chaineys Cycles Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,841 
3,788 
Current assets
Inventories
119,887 
102,215 
Debtors
3,305 
22,586 
Cash at bank and in hand
28,605 
28,528 
151,797 
153,329 
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)
Net assets
19,864 
19,587 
Capital and reserves
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
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Chaineys Cycles Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Computer equipment
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 
Depreciation
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 
Net book value
At 31 May 2023
1,881 
960 
2,841 
At 31 May 2022
2,508 
1,280 
3,788 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
3,305 
- 
Other debtors
- 
22,586 
3,305 
22,586 
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Chaineys Cycles Limited Notes to the Accounts for the year ended 31 May 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
9,709 
9,438 
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 
Accruals
550 
720 
103,207 
95,607 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
31,567 
41,923 
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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