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REGISTERED NUMBER: 07302772 (England and Wales)















Financial Statements for the Year Ended 30 November 2023

for

Allbikes and Allspares Limited

Allbikes and Allspares Limited (Registered number: 07302772)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Allbikes and Allspares Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr P Hall
Mr K J Hall





REGISTERED OFFICE: C/o Haines Watts
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA





REGISTERED NUMBER: 07302772 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Allbikes and Allspares Limited (Registered number: 07302772)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 62,419 70,650
Tangible assets 5 5,803 7,640
68,222 78,290

CURRENT ASSETS
Stocks 216,177 176,655
Debtors 6 3,670 4,472
Cash at bank 612 436
220,459 181,563
CREDITORS
Amounts falling due within one year 7 136,610 116,101
NET CURRENT ASSETS 83,849 65,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,071

143,752

CREDITORS
Amounts falling due after more than one
year

8

(14,715

)

(36,388

)

PROVISIONS FOR LIABILITIES (1,451 ) (1,910 )
NET ASSETS 135,905 105,454

CAPITAL AND RESERVES
Called up share capital 10 90 90
Retained earnings 135,815 105,364
SHAREHOLDERS' FUNDS 135,905 105,454

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Allbikes and Allspares Limited (Registered number: 07302772)

Balance Sheet - continued
30 November 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.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





Mr P Hall - Director


Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Allbikes and Allspares Limited 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts.

Turnover from the provision of goods and services is recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% 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 Profit and Loss Account, 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 balance sheet date.


Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as the financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 164,621
AMORTISATION
At 1 December 2022 93,971
Amortisation for year 8,231
At 30 November 2023 102,202
NET BOOK VALUE
At 30 November 2023 62,419
At 30 November 2022 70,650

Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022
and 30 November 2023 939 2,728 55,439 6,923 66,029
DEPRECIATION
At 1 December 2022 792 2,147 48,787 6,663 58,389
Charge for year 22 87 1,663 65 1,837
At 30 November 2023 814 2,234 50,450 6,728 60,226
NET BOOK VALUE
At 30 November 2023 125 494 4,989 195 5,803
At 30 November 2022 147 581 6,652 260 7,640

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,670 4,472

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 54,073 48,377
Trade creditors 16,956 18,572
Taxation and social security 27,506 22,041
Other creditors 38,075 27,111
136,610 116,101

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,715 36,388

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 33,530 29,142
Bank loans 35,258 55,623
68,788 84,765

Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
90 Ordinary £1 90 90