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REGISTERED NUMBER: 07811567 (England and Wales)















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: L M Fox
G Lewis



REGISTERED OFFICE: 60 Walker Road
Brockworth
Gloucester
Gloucestershire
GL3 4HX



REGISTERED NUMBER: 07811567 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Royal Bank of Scotland
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 - 187

CURRENT ASSETS
Stocks - 109,361
Debtors 5 12,033 965
Cash at bank and in hand 48,872 33,862
60,905 144,188
CREDITORS
Amounts falling due within one year 6 1,906 57,903
NET CURRENT ASSETS 58,999 86,285
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,999

86,472

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 58,899 86,372
SHAREHOLDERS' FUNDS 58,999 86,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2024 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.

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 Income Statement 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:





G Lewis - Director


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 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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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 1 (2023 - 1 ) .

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 3,823 2,730 6,553
Disposals (3,823 ) (2,730 ) (6,553 )
At 30 June 2024 - - -
Depreciation
At 1 November 2023 3,636 2,730 6,366
Eliminated on disposal (3,636 ) (2,730 ) (6,366 )
At 30 June 2024 - - -
Net book value
At 30 June 2024 - - -
At 31 October 2023 187 - 187

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 31/10/23
£    £   
Other debtors 12,033 965

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 31/10/23
£    £   
Trade creditors - 50,302
Taxation and social security 486 5,069
Other creditors 1,420 2,532
1,906 57,903

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30/6/24 31/10/23
£    £   
Within one year - 6,573

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
£    £   
L M Fox
Balance outstanding at start of period - -
Amounts advanced 6,185 -
Amounts repaid (4,686 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 1,499 -

G Lewis
Balance outstanding at start of period - -
Amounts advanced 25,485 -
Amounts repaid (17,985 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 7,500 -

The loans to the directors, shown in other debtors, is interest free and repayable on demand.