man on two wheels ltd 09676240 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Cycle hire Digita Accounts Production Advanced 6.30.9574.0 true true 09676240 2023-01-01 2023-12-31 09676240 2023-12-31 09676240 bus:OrdinaryShareClass1 2023-12-31 09676240 core:RetainedEarningsAccumulatedLosses 2023-12-31 09676240 core:ShareCapital 2023-12-31 09676240 core:CurrentFinancialInstruments 2023-12-31 09676240 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09676240 core:FurnitureFittingsToolsEquipment 2023-12-31 09676240 core:MotorVehicles 2023-12-31 09676240 core:OtherPropertyPlantEquipment 2023-12-31 09676240 bus:SmallEntities 2023-01-01 2023-12-31 09676240 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09676240 bus:FilletedAccounts 2023-01-01 2023-12-31 09676240 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09676240 bus:RegisteredOffice 2023-01-01 2023-12-31 09676240 bus:Director1 2023-01-01 2023-12-31 09676240 bus:Director2 2023-01-01 2023-12-31 09676240 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09676240 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09676240 core:CommercialMotorVehicles 2023-01-01 2023-12-31 09676240 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 09676240 core:MotorVehicles 2023-01-01 2023-12-31 09676240 core:OfficeEquipment 2023-01-01 2023-12-31 09676240 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 09676240 countries:England 2023-01-01 2023-12-31 09676240 2022-12-31 09676240 core:FurnitureFittingsToolsEquipment 2022-12-31 09676240 core:MotorVehicles 2022-12-31 09676240 core:OtherPropertyPlantEquipment 2022-12-31 09676240 2022-01-01 2022-12-31 09676240 2022-12-31 09676240 bus:OrdinaryShareClass1 2022-12-31 09676240 core:RetainedEarningsAccumulatedLosses 2022-12-31 09676240 core:ShareCapital 2022-12-31 09676240 core:CurrentFinancialInstruments 2022-12-31 09676240 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09676240 core:FurnitureFittingsToolsEquipment 2022-12-31 09676240 core:MotorVehicles 2022-12-31 09676240 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09676240

man on two wheels ltd

trading as Camel trail cycle hire

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

man on two wheels ltd

trading as Camel trail cycle hire

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

man on two wheels ltd

trading as Camel trail cycle hire

Company Information

Directors

Mr Graeme Frost

Mrs Rachel Frost

Registered office

51 MOLESWORTH STREET
WADEBRIDGE
Cornwall
PL27 7DR

Accountants

David Elston and co.
Chartered Accountant
51 Molesworth Street
Wadebridge
Cornwall
PL27 7DR

 

man on two wheels ltd

trading as Camel trail cycle hire

(Registration number: 09676240)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

166,652

169,481

Current assets

 

Stocks

5

10,000

10,000

Cash at bank and in hand

 

250,813

197,200

 

260,813

207,200

Creditors: Amounts falling due within one year

6

(72,501)

(75,573)

Net current assets

 

188,312

131,627

Total assets less current liabilities

 

354,964

301,108

Provisions for liabilities

(779)

(1,042)

Net assets

 

354,185

300,066

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

354,085

299,966

Shareholders' funds

 

354,185

300,066

For the financial year ending 31 December 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 24 April 2024 and signed on its behalf by:
 

 

man on two wheels ltd

trading as Camel trail cycle hire

(Registration number: 09676240)
Balance Sheet as at 31 December 2023

.........................................
Mrs Rachel Frost
Director

 

man on two wheels ltd

trading as Camel trail cycle hire

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

1

General information

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

The address of its registered office is:
51 MOLESWORTH STREET
WADEBRIDGE
Cornwall
PL27 7DR
United Kingdom

The principal place of business is:
EDDYSTONE ROAD
WADEBRIDGE
Cornwall
PL27 7AL

These financial statements were authorised for issue by the Board on 24 April 2024.

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.

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.

 

man on two wheels ltd

trading as Camel trail cycle hire

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

Tax

The tax expense for the period comprises current and deferred 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 income 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Commercial motor vehicles

20% net book value

Office equipment

20% net book value

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

man on two wheels ltd

trading as Camel trail cycle hire

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2022 - 11).

 

man on two wheels ltd

trading as Camel trail cycle hire

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

1,867

32,103

155,344

189,314

At 31 December 2023

1,867

32,103

155,344

189,314

Depreciation

At 1 January 2023

1,208

18,625

-

19,833

Charge for the year

133

2,696

-

2,829

At 31 December 2023

1,341

21,321

-

22,662

Carrying amount

At 31 December 2023

526

10,782

155,344

166,652

At 31 December 2022

659

13,478

155,344

169,481

5

Stocks

2023
£

2022
£

Other inventories

10,000

10,000

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

9,995

29,393

Taxation and social security

 

38,905

22,529

Accruals and deferred income

 

23,600

23,650

Other creditors

 

1

1

 

72,501

75,573

7

Share capital

Allotted, called up and fully paid shares

 

man on two wheels ltd

trading as Camel trail cycle hire

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

2023

2022

No.

£

No.

£

Ordinary Shares class 1 of £1 each

100

100

100

100

       

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

9,995

29,393