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CANYON BICYCLES UK LIMITED

Registered Number
08236624
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

CANYON BICYCLES UK LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

BOHN, Karim
WALLACE, Nicholas De Ros

Registered Address

Unit 72 Barwell Business Park
Leatherhead Road
Chessington
KT9 2NY

Registered Number

08236624 (England and Wales)
CANYON BICYCLES UK LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Called up share capital not paid1010
Fixed assets
Tangible assets528,03949,542
28,03949,542
Current assets
Debtors183,844168,392
Cash at bank and on hand229,534213,748
413,378382,140
Creditors amounts falling due within one year7(84,236)(114,626)
Net current assets (liabilities)329,152267,524
Total assets less current liabilities357,191317,066
Provisions for liabilities(5,992)(9,413)
Net assets351,199307,653
Capital and reserves
Called up share capital1010
Profit and loss account351,189307,643
Shareholders' funds351,199307,653
The financial statements were approved and authorised for issue by the Board of Directors on 9 February 2024, and are signed on its behalf by:
BOHN, Karim
Director
WALLACE, Nicholas De Ros
Director

Registered Company No. 08236624
CANYON BICYCLES UK LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Fixtures and fittings-6.67
Vehicles25-
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year3031
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 January 23198,096
Additions2,221
At 31 December 23200,318
Depreciation and impairment
At 01 January 23148,554
Charge for year23,724
At 31 December 23172,278
Net book value
At 31 December 2328,039
At 31 December 2249,542
6.Debtors within one year

2023

2022

££
Trade debtors / trade receivables13,4558,364
Other debtors125,191115,393
Prepayments and accrued income45,19844,635
Total183,844168,392
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables-2,036
Bank borrowings and overdrafts-14,017
Taxation and social security67,04191,078
Other creditors9,4794,910
Accrued liabilities and deferred income7,7162,585
Total84,236114,626
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.