Company registration number: 12114409
Unaudited financial statements
for the year ended 31 October 2023
for
The Corner Bike Repair Shop Ltd
Pages for filing with the Registrar
Company registration number: 12114409
The Corner Bike Repair Shop Ltd
Balance sheet
as at 31 October 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 3,939 8,014
3,939 8,014
Current assets
Stocks 4,900 3,400
Debtors - (1,311)
Cash at bank and in hand 88 311
4,988 2,400
Creditors: amounts falling due within
one year
(13,435) (12,628)
Net current liabilities (8,447) (10,228)
Total assets less current liabilities (4,508) (2,214)
Creditors: Amounts falling due after
more than one year
(13,674) (15,007)
NET LIABILITIES (18,182) (17,221)
Capital and reserves
Called up share capital 2 2
Profit and loss account (18,184) (17,223)
TOTAL EQUITY (18,182) (17,221)
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 October 2023.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 12114409
The Corner Bike Repair Shop Ltd
Balance sheet - continued
as at 31 October 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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr R Marchmont, Director
23 July 2024
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The Corner Bike Repair Shop Ltd
Notes to the financial statements
for the year ended 31 October 2023
1 Company information
The company is registered in England and Wales. Its registered number is 12114409. The company is limited by shares. Its registered office is 9 Brickmakers Road, Colden Common, Winchester, SO21 1TX.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 25% straight line
Fixtures & fittings - 20% straight line
Computer equipment - 25% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is

reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance
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The Corner Bike Repair Shop Ltd
Notes to the financial statements - continued
for the year ended 31 October 2023
2 Accounting policies - continued
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or lossover the relevant period. The capital element of the future payments is treated as a liability.
3 Average number of employees
During the year the average number of employees was Nil (2022 - 1).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 November 2022 17,872
At 31 October 2023 17,872
Depreciation
At 1 November 2022 9,858
Charge for year 4,075
At 31 October 2023 13,933
Net book value
At 31 October 2023 3,939
At 31 October 2022 8,014
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