Company Registration No. 03144902 (England and Wales)
John Atkins Cycles (leamington Spa) Ltd.
Unaudited accounts
for the year ended 31 December 2023
John Atkins Cycles (leamington Spa) Ltd.
Unaudited accounts
Contents
John Atkins Cycles (leamington Spa) Ltd.
Company Information
for the year ended 31 December 2023
Directors
N Higgins
C R Higgins
J E G G Higgins
G Wythe
Company Number
03144902 (England and Wales)
Registered Office
15 Almond Avenue
Leamington Spa
Warwickshire
CV32 6QD
Accountants
JS Accountancy Services
Measham Business Centre
56 High Street/Queens Street
Measham
Derbyshire
DE12 7HZ
John Atkins Cycles (leamington Spa) Ltd.
Statement of financial position
as at 31 December 2023
Tangible assets
48,892
58,993
Inventories
273,329
309,942
Cash at bank and in hand
3,264
565
Creditors: amounts falling due within one year
(211,817)
(212,827)
Net current assets
65,780
108,532
Total assets less current liabilities
114,672
167,525
Creditors: amounts falling due after more than one year
(82,163)
(111,677)
Provisions for liabilities
Other provisions
-
(5,072)
Called up share capital
125,000
110,000
Profit and loss account
(92,491)
(59,224)
Shareholders' funds
32,509
50,776
For the 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. 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 20 June 2024 and were signed on its behalf by
N Higgins
Director
Company Registration No. 03144902
John Atkins Cycles (leamington Spa) Ltd.
Notes to the Accounts
for the year ended 31 December 2023
John Atkins Cycles (leamington Spa) Ltd. is a private company, limited by shares, registered in England and Wales, registration number 03144902. The registered office is 15 Almond Avenue, Leamington Spa, Warwickshire, CV32 6QD.
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.
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:
Land & buildings
15% straight Line
Plant & machinery
15% and 20% reducing balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
John Atkins Cycles (leamington Spa) Ltd.
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2023
8,894
165,782
174,676
At 31 December 2023
8,894
168,206
177,100
At 1 January 2023
7,709
107,974
115,683
Charge for the year
1,185
11,340
12,525
At 31 December 2023
8,894
119,314
128,208
At 31 December 2023
-
48,892
48,892
At 31 December 2022
1,185
57,808
58,993
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
65,251
34,426
Trade creditors
39,818
58,834
Taxes and social security
505
2,042
Loans from directors
96,093
-
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
30,000
30,000
8
Average number of employees
During the year the average number of employees was 6 (2022: 6).