Company Registration No. 09677534 (England and Wales)
J C Cook Cycles Limited
Unaudited accounts
for the year ended 31 March 2023
J C Cook Cycles Limited
Unaudited accounts
Contents
J C Cook Cycles Limited
Company Information
for the year ended 31 March 2023
Directors
Mr Adrian Blow
Mrs Jenny Blow
Company Number
09677534 (England and Wales)
Registered Office
Unit 13 Jackson Place
Humberston
Grimsby
N E Lincs
DN36 4AS
England
Accountants
LRCA Limited
McCue House
70 Wilton Road
Grimsby
N E Lincs
DN36 4AW
J C Cook Cycles Limited
Statement of financial position
as at 31 March 2023
Tangible assets
26,576
31,013
Inventories
264,000
370,000
Cash at bank and in hand
33,755
24,157
Creditors: amounts falling due within one year
(175,843)
(187,513)
Net current assets
262,118
272,436
Total assets less current liabilities
288,694
303,449
Creditors: amounts falling due after more than one year
(23,333)
(33,662)
Provisions for liabilities
Net assets
260,312
269,787
Called up share capital
100
100
Profit and loss account
260,212
269,687
Shareholders' funds
260,312
269,787
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by
Mr Adrian Blow
Director
Company Registration No. 09677534
J C Cook Cycles Limited
Notes to the Accounts
for the year ended 31 March 2023
J C Cook Cycles Limited is a private company, limited by shares, registered in England and Wales, registration number 09677534. The registered office is Unit 13 Jackson Place , Humberston, Grimsby, N E Lincs, DN36 4AS, England.
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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor vehicles
25% straight line
Fixtures & fittings
10% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
J C Cook Cycles Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2022
58,434
23,434
81,868
At 31 March 2023
61,234
23,434
84,668
At 1 April 2022
30,238
20,617
50,855
Charge for the year
5,937
1,300
7,237
At 31 March 2023
36,175
21,917
58,092
At 31 March 2023
25,059
1,517
26,576
At 31 March 2022
28,196
2,817
31,013
Amounts falling due within one year
Trade debtors
6,190
13,195
Accrued income and prepayments
4,248
1,242
Other debtors
18,910
9,001
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
9,675
Trade creditors
96,950
61,896
Taxes and social security
15,403
23,633
Other creditors
7,178
46,079
Loans from directors
35,660
42,300
7
Creditors: amounts falling due after more than one year
2023
2022
J C Cook Cycles Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Deferred taxation
2023
2022
Accelerated capital allowances
5,049
-
Charged to the profit and loss account
5,049
-
Provision at end of year
5,049
-
9
Average number of employees
During the year the average number of employees was 9 (2022: 9).