1 Stop Instruction Bike Hire Limited 12104628 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the provision of motorcycle hire services. Digita Accounts Production Advanced 6.30.9574.0 true true 12104628 2022-04-01 2023-03-31 12104628 2023-03-31 12104628 bus:OrdinaryShareClass1 2023-03-31 12104628 core:CurrentFinancialInstruments 2023-03-31 12104628 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12104628 core:MotorVehicles 2023-03-31 12104628 bus:SmallEntities 2022-04-01 2023-03-31 12104628 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12104628 bus:FullAccounts 2022-04-01 2023-03-31 12104628 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 12104628 bus:RegisteredOffice 2022-04-01 2023-03-31 12104628 bus:Director2 2022-04-01 2023-03-31 12104628 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 12104628 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12104628 core:MotorVehicles 2022-04-01 2023-03-31 12104628 countries:EnglandWales 2022-04-01 2023-03-31 12104628 2022-03-31 12104628 core:MotorVehicles 2022-03-31 12104628 2021-04-01 2022-03-31 12104628 2022-03-31 12104628 bus:OrdinaryShareClass1 2022-03-31 12104628 core:CurrentFinancialInstruments 2022-03-31 12104628 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 12104628 core:MotorVehicles 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12104628

1 Stop Instruction Bike Hire Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

1 Stop Instruction Bike Hire Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

1 Stop Instruction Bike Hire Limited

(Registration number: 12104628)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

13,084

15,229

Current assets

 

Debtors

5

10,145

10,144

Cash at bank and in hand

 

89,031

60,133

 

99,176

70,277

Creditors: Amounts falling due within one year

6

(10,395)

(12,151)

Net current assets

 

88,781

58,126

Net assets

 

101,865

73,355

Capital and reserves

 

Called up share capital

7

2

2

Profit and loss account

101,863

73,353

Shareholders' funds

 

101,865

73,355

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2023 and signed on its behalf by:
 

.........................................
P S Johal
Director

 

1 Stop Instruction Bike Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
18 Regent Gardens
Ilford
Essex
IG3 8UL
United Kingdom

These financial statements were authorised for issue by the Board on 25 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling, which is also company's functional currency. Monetary amounts in these financial statements are rounded to the nearest Pound (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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.

 

1 Stop Instruction Bike Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

1 Stop Instruction Bike Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

26,190

26,190

Additions

1,900

1,900

At 31 March 2023

28,090

28,090

Depreciation

At 1 April 2022

10,961

10,961

Charge for the year

4,045

4,045

At 31 March 2023

15,006

15,006

Carrying amount

At 31 March 2023

13,084

13,084

At 31 March 2022

15,229

15,229

5

Debtors

Current

2023
£

2022
£

Other debtors

10,145

10,144

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

7,695

9,451

Other creditors

1,500

1,500

Accruals and deferred income

1,200

1,200

10,395

12,151

 

1 Stop Instruction Bike Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

8

Related party transactions

At the year end date, included within other creditors is an amount of £1,500 (2022 - £1500) owed to connected companies in which the directors have a beneficial interest. The loans are provided interest free. There is no formal terms and conditions regarding the repayment of the loans.

Included within other debtors is an amount of £10,144 (2022 - £10,144) owed by a connected company in which the directors have a beneficial interest. The loan is provided interest free. There is no formal terms and conditions regarding the repayment of the loan.