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Registered number: 12165884
Ride Repair Cycles Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 August 2023
Business Financial Management Services Limited
3 Lowther Gardens
Grange Over Sands
Cumbria
LA11 7EX
Unaudited Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 12165884
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,162 1,258
1,162 1,258
CURRENT ASSETS
Stocks 36,268 56,692
Debtors - 30
Cash at bank and in hand 11,709 943
47,977 57,665
Creditors: Amounts Falling Due Within One Year (83,440 ) (105,544 )
NET CURRENT ASSETS (LIABILITIES) (35,463 ) (47,879 )
TOTAL ASSETS LESS CURRENT LIABILITIES (34,301 ) (46,621 )
Creditors: Amounts Falling Due After More Than One Year (27,012 ) (11,472 )
NET LIABILITIES (61,313 ) (58,093 )
CAPITAL AND RESERVES
Called up share capital 5 1 1
Profit and Loss Account (61,314 ) (58,094 )
SHAREHOLDERS' FUNDS (61,313) (58,093)
Page 1
Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Lee Rayton
Director
27/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Ride Repair Cycles Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12165884 . The registered office is 8 Abbots Way, Grange Over Sands, Cumbria, LA11 7BP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Total
£
Cost
As at 1 September 2022 1,953
Additions 360
As at 31 August 2023 2,313
Depreciation
As at 1 September 2022 695
Provided during the period 456
As at 31 August 2023 1,151
Net Book Value
As at 31 August 2023 1,162
As at 1 September 2022 1,258
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5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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