REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 November 2023 to 30 June 2024 |
for |
Eastgate Cycles Ltd. |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 November 2023 to 30 June 2024 |
for |
Eastgate Cycles Ltd. |
Eastgate Cycles Ltd. (Registered number: 07811567) |
Contents of the Financial Statements |
for the Period 1 November 2023 to 30 June 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Eastgate Cycles Ltd. |
Company Information |
for the Period 1 November 2023 to 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
48 Hucclecote Road |
Gloucester |
Gloucestershire |
GL3 3RS |
BANKERS: |
1 Westgate Street |
Gloucester |
GL1 2TT |
Eastgate Cycles Ltd. (Registered number: 07811567) |
Statement of Financial Position |
30 June 2024 |
30/6/24 | 31/10/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Eastgate Cycles Ltd. (Registered number: 07811567) |
Notes to the Financial Statements |
for the Period 1 November 2023 to 30 June 2024 |
1. | STATUTORY INFORMATION |
Eastgate Cycles Ltd. is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Computer equipment | - |
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 period comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Eastgate Cycles Ltd. (Registered number: 07811567) |
Notes to the Financial Statements - continued |
for the Period 1 November 2023 to 30 June 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 November 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 June 2024 |
Depreciation |
At 1 November 2023 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 June 2024 |
Net book value |
At 30 June 2024 |
At 31 October 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 31/10/23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 31/10/23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30/6/24 | 31/10/23 |
£ | £ |
Within one year |
8. | SECURED DEBTS |
The Royal Bank of Scotland Plc have a fixed and floating charge over all the property or undertakings of the company that was created on 22 May 2015 and is still outstanding. |
Eastgate Cycles Ltd. (Registered number: 07811567) |
Notes to the Financial Statements - continued |
for the Period 1 November 2023 to 30 June 2024 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 30 June 2024 and the year ended 31 October 2023: |
30/6/24 | 31/10/23 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
The loans to the directors, shown in other debtors, is interest free and repayable on demand. |