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REGISTERED NUMBER: 09697621 (England and Wales)















Financial Statements for the Year Ended 30 September 2023

for

Cycle Shops Limited

Cycle Shops Limited (Registered number: 09697621)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 7

Cycle Shops Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr Philip Wilkinson
Mrs Alisha Wilkinson





REGISTERED OFFICE: 143 Eastfield Road
Peterborough
Cambridgeshire
PE1 4AU





REGISTERED NUMBER: 09697621 (England and Wales)





ACCOUNTANTS: Accountancy Solutions
143 Eastfield Road
Peterborough
Cambridgeshire
PE1 4AU

Cycle Shops Limited (Registered number: 09697621)

Statement of Financial Position
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,000 34,500
Property, plant and equipment 5 1,296 1,620
24,296 36,120

CURRENT ASSETS
Inventories 6 54,547 57,090
Debtors 7 (1,209 ) (1,716 )
Cash at bank and in hand 34,033 33,988
87,371 89,362
CREDITORS
Amounts falling due within one year 8 63,434 82,842
NET CURRENT ASSETS 23,937 6,520
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,233

42,640

CREDITORS
Amounts falling due after more than
one year

9

(37,037

)

(41,037

)

PROVISIONS FOR LIABILITIES (802 ) (802 )
NET ASSETS 10,394 801

Cycle Shops Limited (Registered number: 09697621)

Statement of Financial Position - continued
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 10,294 701
SHAREHOLDERS' FUNDS 10,394 801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:





Mr Philip Wilkinson - Director


Cycle Shops Limited (Registered number: 09697621)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Cycle Shops Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

Cycle Shops Limited (Registered number: 09697621)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 115,000
AMORTISATION
At 1 October 2022 80,500
Amortisation for year 11,500
At 30 September 2023 92,000
NET BOOK VALUE
At 30 September 2023 23,000
At 30 September 2022 34,500

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 5,287 4,500 9,787
DEPRECIATION
At 1 October 2022 4,395 3,772 8,167
Charge for year 178 146 324
At 30 September 2023 4,573 3,918 8,491
NET BOOK VALUE
At 30 September 2023 714 582 1,296
At 30 September 2022 892 728 1,620

6. INVENTORIES
30.9.23 30.9.22
£    £   
Stocks 54,547 57,090

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade Debtors (1,209 ) (1,716 )

Cycle Shops Limited (Registered number: 09697621)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Other loans 20,062 23,703
Trade Creditors 18,419 20,306
Corporation Tax 5,024 5,338
Social security and other taxes 2,942 1,941
Value Added Tax 3,765 5,328
Directors' current accounts 13,222 26,226
63,434 82,842

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.23 30.9.22
£    £   
Other loans - 1-2 years 37,037 41,037

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 October 2022 701
Profit for the year 9,593
At 30 September 2023 10,294

Cycle Shops Limited

Report of the Accountants to the Directors of
Cycle Shops Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 September 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Accountancy Solutions
143 Eastfield Road
Peterborough
Cambridgeshire
PE1 4AU


Date: .............................................