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REGISTERED NUMBER: 08817516 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

HYSIDE MOTORCYCLES LTD

HYSIDE MOTORCYCLES LTD (REGISTERED NUMBER: 08817516)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


HYSIDE MOTORCYCLES LTD (REGISTERED NUMBER: 08817516)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 95,576 102,374

CURRENT ASSETS
Stocks 5 2,120,307 1,724,271
Debtors 6 (36,173 ) (66,400 )
Cash at bank and in hand 64,932 213,280
2,149,066 1,871,151
CREDITORS
Amounts falling due within one year 7 1,581,398 1,456,203
NET CURRENT ASSETS 567,668 414,948
TOTAL ASSETS LESS CURRENT
LIABILITIES

663,244

517,322

CREDITORS
Amounts falling due after more than one
year

8

(277,778

)

(196,680

)

PROVISIONS FOR LIABILITIES (11,539 ) (12,564 )
NET ASSETS 373,927 308,078

CAPITAL AND RESERVES
Called up share capital 10 300 300
Retained earnings 373,627 307,778
SHAREHOLDERS' FUNDS 373,927 308,078

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 April 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.

HYSIDE MOTORCYCLES LTD (REGISTERED NUMBER: 08817516)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:





M Coleing - Director


HYSIDE MOTORCYCLES LTD (REGISTERED NUMBER: 08817516)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Hyside Motorcycles Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08817516

Registered office: 368 Forest Road
London
E17 5JF

The presentation currency of the financial statements is the Pound Sterling (£).


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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


HYSIDE MOTORCYCLES LTD (REGISTERED NUMBER: 08817516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2022 35,915 35,507 48,093 45,262 164,777
Additions - 5,956 - - 5,956
At 30 April 2023 35,915 41,463 48,093 45,262 170,733
DEPRECIATION
At 1 May 2022 - 14,903 21,162 26,338 62,403
Charge for year - 3,984 4,039 4,731 12,754
At 30 April 2023 - 18,887 25,201 31,069 75,157
NET BOOK VALUE
At 30 April 2023 35,915 22,576 22,892 14,193 95,576
At 30 April 2022 35,915 20,604 26,931 18,924 102,374

5. STOCKS
2023 2022
£    £   
Stocks 2,120,307 1,638,812
Work-in-progress - 85,459
2,120,307 1,724,271

HYSIDE MOTORCYCLES LTD (REGISTERED NUMBER: 08817516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors (58,431 ) (79,886 )
Other debtors 22,258 13,486
(36,173 ) (66,400 )

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,062,704 883,543
Taxation and social security 26,944 69,931
Other creditors 491,750 502,729
1,581,398 1,456,203

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 277,778 196,680

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 6,944 -

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Other loans 91,667 78,437

Amounts falling due between one and two years:
Other loans - 1-2 years 91,667 78,437

Amounts falling due between two and five years:
No description 179,167 118,243

Amounts falling due in more than five years:

HYSIDE MOTORCYCLES LTD (REGISTERED NUMBER: 08817516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


9. LOANS - continued
2023 2022
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Other loans more 5yrs instal 6,944 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary £1 200 200
25 Ordinary A £1 25 25
25 Ordinary B £1 25 25
25 Ordinary C £1 25 25
25 Ordinary D £1 25 25
300 300

11. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:


2023 2022
£    £   
Amounts owed by/(to) Mr M Coleing (Director) (179,396 ) (201,538 )
Amounts owed by/(to) Mr S Howton (Director) (199,694 ) (196,698 )
Amounts owed by/(to) Mr M Coleing (Director) (16,885 ) (21,728 )

The controlling party is Mr M Coleing and Mr S Howton.