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REGISTERED NUMBER: 01287134 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ST. NEOTS MOTORCYCLE CO LIMITED

ST. NEOTS MOTORCYCLE CO LIMITED (REGISTERED NUMBER: 01287134)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ST. NEOTS MOTORCYCLE CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr EW Sawford
Mrs SM Sawford
Mr AJ Sawford





SECRETARY: Mrs SM Sawford





REGISTERED OFFICE: 29/39 St. Mary's Street
Eynesbury
St. Neots
Cambridgeshire
PE19 2TA





REGISTERED NUMBER: 01287134 (England and Wales)





ACCOUNTANTS: Davey Grover Limited
Chartered Accountants
Fenice Court
Phoenix Business Park
Eaton Socon
St. Neots
Cambridgeshire
PE19 8EP

ST. NEOTS MOTORCYCLE CO LIMITED (REGISTERED NUMBER: 01287134)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 760,218 71,062

CURRENT ASSETS
Stocks 470,312 440,846
Debtors 5 2,530 5,693
Cash at bank and in hand 147,360 190,900
620,202 637,439
CREDITORS
Amounts falling due within one year 6 153,287 166,912
NET CURRENT ASSETS 466,915 470,527
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,227,133

541,589

CREDITORS
Amounts falling due after more than one year 7 (15,037 ) (25,000 )

PROVISIONS FOR LIABILITIES (148,807 ) (5,119 )
NET ASSETS 1,063,289 511,470

CAPITAL AND RESERVES
Called up share capital 50 50
Revaluation reserve 8 555,499 -
Other reserves 50 50
Retained earnings 507,690 511,370
SHAREHOLDERS' FUNDS 1,063,289 511,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

ST. NEOTS MOTORCYCLE CO LIMITED (REGISTERED NUMBER: 01287134)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2024 and were signed on its behalf by:





Mr EW Sawford - Director


ST. NEOTS MOTORCYCLE CO LIMITED (REGISTERED NUMBER: 01287134)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

St. Neots Motorcycle Co 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.

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 as modified by the revaluation of certain assets.

The principal accounting policies adopted in these financial statements have remained unchanged from the previous year, and have therefore been consistently applied.

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

Sale of motorcycles:
Revenue is recognised at the point of delivery of the motorcycle to the customer.

Motorcycle repairs:
Revenue is recognised at the point of completion of the repair.

Sale of spares and accessories:
Revenue is recognised at the point of supply.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Change in accounting policy
As at 31 December 2023 freehold land and buildings have been valued at fair value by the directors in order to show a true and fair view of the financial position at the reporting date. The company has recognised this is in accordance with FRS102 Section 10.12 and so no prior year adjustment has been applied.

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 Income Statement, 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.

ST. NEOTS MOTORCYCLE CO LIMITED (REGISTERED NUMBER: 01287134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 72,260 133,314 205,574
Additions - 1,708 1,708
Disposals - (23,995 ) (23,995 )
Revaluations 672,240 - 672,240
At 31 December 2023 744,500 111,027 855,527
DEPRECIATION
At 1 January 2023 28,136 106,376 134,512
Charge for year - 3,230 3,230
Eliminated on disposal - (14,297 ) (14,297 )
Revaluation adjustments (28,136 ) - (28,136 )
At 31 December 2023 - 95,309 95,309
NET BOOK VALUE
At 31 December 2023 744,500 15,718 760,218
At 31 December 2022 44,124 26,938 71,062

ST. NEOTS MOTORCYCLE CO LIMITED (REGISTERED NUMBER: 01287134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 700,376 - 700,376
Cost 44,124 111,027 155,151
744,500 111,027 855,527

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 72,260 72,260
Aggregate depreciation 28,136 28,136

Value of land in freehold land and buildings 12,800 12,800

Freehold land and buildings were valued on a fair value basis basis on 31 December 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13 55
Other debtors 2,517 5,638
2,530 5,693

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 67,610 87,939
Taxation and social security 21,819 17,210
Other creditors 53,858 51,763
153,287 166,912

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,037 25,000

ST. NEOTS MOTORCYCLE CO LIMITED (REGISTERED NUMBER: 01287134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. RESERVES
Revaluation
reserve
£   
Transfer revaluation 555,499

At 31 December 2023 555,499

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr EW Sawford.