Company Registration No. 12965038 (England and Wales)
The Bike Shop. Swanage Ltd
Unaudited accounts
for the year ended 31 October 2023
The Bike Shop. Swanage Ltd
Unaudited accounts
Contents
The Bike Shop. Swanage Ltd
Company Information
for the year ended 31 October 2023
Directors
Matthew Clarke
Samuel Huckerby
Company Number
12965038 (England and Wales)
Registered Office
5 QUEENS ROAD
SWANAGE
BH19 2EQ
ENGLAND
Accountants
Taxez
5 South Charlotte Street
Edinburgh
EH2 4AN
The Bike Shop. Swanage Ltd
Statement of financial position
as at 31 October 2023
Tangible assets
3,072
3,840
Cash at bank and in hand
1,490
2,187
Creditors: amounts falling due within one year
(7,441)
(737)
Net current (liabilities)/assets
(1,801)
9,680
Total assets less current liabilities
1,271
13,520
Creditors: amounts falling due after more than one year
(9,816)
(12,917)
Net (liabilities)/assets
(8,545)
603
Called up share capital
3
3
Profit and loss account
(8,548)
600
Shareholders' funds
(8,545)
603
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by
Matthew Clarke
Director
Company Registration No. 12965038
The Bike Shop. Swanage Ltd
Notes to the Accounts
for the year ended 31 October 2023
The Bike Shop. Swanage Ltd is a private company, limited by shares, registered in England and Wales, registration number 12965038. The registered office is 5 QUEENS ROAD, SWANAGE, BH19 2EQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing Balance
The Bike Shop. Swanage Ltd
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Motor vehicles
5
Creditors: amounts falling due within one year
2023
2022
Loans from directors
7,082
378
6
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
9,816
12,917
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).