Silverfin false 28/02/2023 01/03/2022 28/02/2023 T Macdonald 01/01/2023 P A Saxena 10/10/2017 09 November 2023 The principal activity of the Company during the financial year was that of building mountain bike trails. 10605947 2023-02-28 10605947 bus:Director1 2023-02-28 10605947 bus:Director2 2023-02-28 10605947 2022-02-28 10605947 core:CurrentFinancialInstruments 2023-02-28 10605947 core:CurrentFinancialInstruments 2022-02-28 10605947 core:Non-currentFinancialInstruments 2023-02-28 10605947 core:Non-currentFinancialInstruments 2022-02-28 10605947 core:ShareCapital 2023-02-28 10605947 core:ShareCapital 2022-02-28 10605947 core:RetainedEarningsAccumulatedLosses 2023-02-28 10605947 core:RetainedEarningsAccumulatedLosses 2022-02-28 10605947 core:Goodwill 2022-02-28 10605947 core:Goodwill 2023-02-28 10605947 core:PlantMachinery 2022-02-28 10605947 core:Vehicles 2022-02-28 10605947 core:OfficeEquipment 2022-02-28 10605947 core:ComputerEquipment 2022-02-28 10605947 core:PlantMachinery 2023-02-28 10605947 core:Vehicles 2023-02-28 10605947 core:OfficeEquipment 2023-02-28 10605947 core:ComputerEquipment 2023-02-28 10605947 bus:OrdinaryShareClass1 2023-02-28 10605947 bus:OrdinaryShareClass2 2023-02-28 10605947 bus:OrdinaryShareClass3 2023-02-28 10605947 bus:OrdinaryShareClass4 2023-02-28 10605947 bus:OrdinaryShareClass5 2023-02-28 10605947 bus:OtherShareClass1 2023-02-28 10605947 2022-03-01 2023-02-28 10605947 bus:FullAccounts 2022-03-01 2023-02-28 10605947 bus:SmallEntities 2022-03-01 2023-02-28 10605947 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 10605947 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 10605947 bus:Director1 2022-03-01 2023-02-28 10605947 bus:Director2 2022-03-01 2023-02-28 10605947 core:Goodwill core:TopRangeValue 2022-03-01 2023-02-28 10605947 core:PlantMachinery core:TopRangeValue 2022-03-01 2023-02-28 10605947 core:Vehicles 2022-03-01 2023-02-28 10605947 core:OfficeEquipment core:TopRangeValue 2022-03-01 2023-02-28 10605947 core:ComputerEquipment core:TopRangeValue 2022-03-01 2023-02-28 10605947 2021-03-01 2022-02-28 10605947 core:Goodwill 2022-03-01 2023-02-28 10605947 core:PlantMachinery 2022-03-01 2023-02-28 10605947 core:OfficeEquipment 2022-03-01 2023-02-28 10605947 core:ComputerEquipment 2022-03-01 2023-02-28 10605947 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 10605947 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 10605947 bus:OrdinaryShareClass2 2022-03-01 2023-02-28 10605947 bus:OrdinaryShareClass2 2021-03-01 2022-02-28 10605947 bus:OrdinaryShareClass3 2022-03-01 2023-02-28 10605947 bus:OrdinaryShareClass3 2021-03-01 2022-02-28 10605947 bus:OrdinaryShareClass4 2022-03-01 2023-02-28 10605947 bus:OrdinaryShareClass4 2021-03-01 2022-02-28 10605947 bus:OrdinaryShareClass5 2022-03-01 2023-02-28 10605947 bus:OrdinaryShareClass5 2021-03-01 2022-02-28 10605947 bus:OtherShareClass1 2022-03-01 2023-02-28 10605947 bus:OtherShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10605947 (England and Wales)

ARCHITRAIL VELOSOLUTIONS UK LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

ARCHITRAIL VELOSOLUTIONS UK LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

ARCHITRAIL VELOSOLUTIONS UK LIMITED

BALANCE SHEET

As at 28 February 2023
ARCHITRAIL VELOSOLUTIONS UK LIMITED

BALANCE SHEET (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 4 2,600 3,250
Tangible assets 5 41,430 16,046
44,030 19,296
Current assets
Debtors 6 578,296 465,938
Cash at bank and in hand 17,975 2,248
596,271 468,186
Creditors: amounts falling due within one year 7 ( 495,377) ( 393,256)
Net current assets 100,894 74,930
Total assets less current liabilities 144,924 94,226
Creditors: amounts falling due after more than one year 8 ( 83,745) ( 86,752)
Net assets 61,179 7,474
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 61,079 7,374
Total shareholders' funds 61,179 7,474

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Architrail Velosolutions UK Limited (registered number: 10605947) were approved and authorised for issue by the Director on 09 November 2023. They were signed on its behalf by:

P A Saxena
Director
ARCHITRAIL VELOSOLUTIONS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
ARCHITRAIL VELOSOLUTIONS UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Architrail Velosolutions UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Brewery Court North Street, Bedminster, Bristol, BS3 1JS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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 is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Vehicles 33 % reducing balance
Office equipment 4 years straight line
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are accounted for under the accruals method. These are credited to the profit and loss account when the company is entitled to the income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The Directors believe there are no critical judgements that have made in the process of applying the Company’s accounting policies.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 9

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 March 2022 6,500 6,500
At 28 February 2023 6,500 6,500
Accumulated amortisation
At 01 March 2022 3,250 3,250
Charge for the financial year 650 650
At 28 February 2023 3,900 3,900
Net book value
At 28 February 2023 2,600 2,600
At 28 February 2022 3,250 3,250

5. Tangible assets

Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 March 2022 4,778 24,745 4,136 5,188 38,847
Additions 33,936 0 1,330 0 35,266
Disposals 0 ( 13,750) 0 0 ( 13,750)
At 28 February 2023 38,714 10,995 5,466 5,188 60,363
Accumulated depreciation
At 01 March 2022 1,554 16,333 4,136 778 22,801
Charge for the financial year 4,449 2,424 111 1,297 8,281
Disposals 0 ( 12,149) 0 0 ( 12,149)
At 28 February 2023 6,003 6,608 4,247 2,075 18,933
Net book value
At 28 February 2023 32,711 4,387 1,219 3,113 41,430
At 28 February 2022 3,224 8,412 0 4,410 16,046

6. Debtors

2023 2022
£ £
Trade debtors 145,688 151,675
Amounts owed by directors 84,041 134,222
Prepayments and accrued income 129,073 55,773
Other debtors 219,494 124,268
578,296 465,938

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 10,000 30,383
Trade creditors 173,443 142,608
Accruals and deferred income 89,229 60,683
Taxation and social security 124,813 87,613
Obligations under finance leases and hire purchase contracts 14,258 0
Other creditors 83,634 71,969
495,377 393,256

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 28,799 32,500
Obligations under finance leases and hire purchase contracts 10,544 0
Other creditors 44,402 54,252
83,745 86,752

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
19 Ordinary A of £1 each shares of £ 1.00 each 19 19
39 Ordinary B of £1 each shares of £ 1.00 each 39 39
39 Ordinary C of £1 each shares of £ 1.00 each 39 39
1 Ordinary D of £1 each share of £ 1.00 1 1
1 Ordinary E of £1 each share of £ 1.00 1 1
1 Ordinary F of £1 each share of £ 1.00 1 1
100 100

10. Financial commitments

Other financial commitments

As at 28 February 2023 the company had future minimum lease payments under non-cancellable operating leases of £14,000 (2022 — £28,000).

11. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Advances to directors 84,041 134,222

Advances

Advances in the year of £15,830 (at interest rate of 2.00%) were made to the director, £66,011 has been repaid.

Other related party transactions

At the year end the company was owed £91,964 by a company connected by virtue of common control.