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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
Page
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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
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John Atkins Cycles (leamington Spa) Ltd. Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
48,892 
58,993 
Current assets
Inventories
273,329 
309,942 
Debtors
1,004 
10,852 
Cash at bank and in hand
3,264 
565 
277,597 
321,359 
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)
Net assets
32,509 
50,776 
Capital and reserves
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
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John Atkins Cycles (leamington Spa) Ltd. Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Pension costs
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
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.
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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 
Additions
- 
2,424 
2,424 
At 31 December 2023
8,894 
168,206 
177,100 
Depreciation
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 
Net book value
At 31 December 2023
- 
48,892 
48,892 
At 31 December 2022
1,185 
57,808 
58,993 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
192 
10,852 
Other debtors
812 
- 
1,004 
10,852 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
65,251 
34,426 
VAT
9,279 
5,216 
Trade creditors
39,818 
58,834 
Taxes and social security
505 
2,042 
Other creditors
1 
112,309 
Loans from directors
96,093 
- 
Accruals
870 
- 
211,817 
212,827 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
52,163 
81,677 
Other creditors
30,000 
30,000 
82,163 
111,677 
8
Average number of employees
During the year the average number of employees was 6 (2022: 6).
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