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REGISTERED NUMBER: 09665369 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

VIP Motorcycles Ltd

VIP Motorcycles Ltd (Registered number: 09665369)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VIP Motorcycles Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Y Al-Tarehi





REGISTERED OFFICE: Arches 31 Blechynden Street
London
W10 6SA





REGISTERED NUMBER: 09665369 (England and Wales)





ACCOUNTANTS: Preston Accountants Limited.
Chartered Certified Accountants
1 Carlton Parade
Preston Road
Wembley
Middlesex
HA9 8NE

VIP Motorcycles Ltd (Registered number: 09665369)

Statement of Financial Position
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,476 39,649

CURRENT ASSETS
Stocks 5 66,204 86,151
Debtors 6 6,324 17,538
72,528 103,689
CREDITORS
Amounts falling due within one year 7 72,936 77,777
NET CURRENT (LIABILITIES)/ASSETS (408 ) 25,912
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,068

65,561

CREDITORS
Amounts falling due after more than one year 8 37,630 42,867
NET (LIABILITIES)/ASSETS (562 ) 22,694

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (563 ) 22,693
SHAREHOLDERS' FUNDS (562 ) 22,694

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

VIP Motorcycles Ltd (Registered number: 09665369)

Statement of Financial Position - continued
31 July 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





Y Al-Tarehi - Director


VIP Motorcycles Ltd (Registered number: 09665369)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

VIP Motorcycles Ltd 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.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% 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 Comprehensive Income, 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.

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 - 7 ) .

VIP Motorcycles Ltd (Registered number: 09665369)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 23,778 10,951 26,891 2,475 64,095
Additions - 1,237 - - 1,237
At 31 July 2023 23,778 12,188 26,891 2,475 65,332
DEPRECIATION
At 1 August 2022 16,503 5,757 889 1,297 24,446
Charge for year 1,455 1,286 433 236 3,410
At 31 July 2023 17,958 7,043 1,322 1,533 27,856
NET BOOK VALUE
At 31 July 2023 5,820 5,145 25,569 942 37,476
At 31 July 2022 7,275 5,194 26,002 1,178 39,649

5. STOCKS
31.7.23 31.7.22
£    £   
Stocks - Parts 37,992 42,951
Stock - Motorcycles 28,212 43,200
66,204 86,151

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 6,324 17,538

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 173 1,061
Tax - 10,729
Social security and other taxes 8,138 2,341
Pension Liability 128 126
VAT 7,651 21,629
Other creditors - 3,800
Directors' loan accounts 55,821 36,266
Accrued expenses 1,025 1,825
72,936 77,777

VIP Motorcycles Ltd (Registered number: 09665369)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans - 2-5 years 18,988 19,740
Other loans - 2-5 years 18,642 23,127
37,630 42,867

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
1 Ordinary 1 1 1