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REGISTERED NUMBER: 11020032 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

REITEN MOTORRAD LIMITED

REITEN MOTORRAD LIMITED (REGISTERED NUMBER: 11020032)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REITEN MOTORRAD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D J Halsall
Mrs R A M Halsall





REGISTERED OFFICE: The Old Filling Station
Lower Road
Glemsford
Sudbury
Suffolk
CO10 7QU





REGISTERED NUMBER: 11020032 (England and Wales)





ACCOUNTANTS: RE Group Accountants Limited
The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ

REITEN MOTORRAD LIMITED (REGISTERED NUMBER: 11020032)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,128 79,325

CURRENT ASSETS
Stocks 1,026,352 951,314
Debtors 5 34,703 48,201
Cash at bank and in hand 11,089 22,755
1,072,144 1,022,270
CREDITORS
Amounts falling due within one year 6 1,239,827 1,109,282
NET CURRENT LIABILITIES (167,683 ) (87,012 )
TOTAL ASSETS LESS CURRENT LIABILITIES (109,555 ) (7,687 )

CREDITORS
Amounts falling due after more than one
year

7

131,600

146,770

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings (341,155 ) (254,457 )
(241,155 ) (154,457 )
(109,555 ) (7,687 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

REITEN MOTORRAD LIMITED (REGISTERED NUMBER: 11020032)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:




Mrs R A M Halsall - Director



D J Halsall - Director


REITEN MOTORRAD LIMITED (REGISTERED NUMBER: 11020032)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Reiten Motorrad 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.

Going Concern

The company meets its working capital requirements by the finance provided by BMW Financial Services (GB) Limited which continue at its present level unless and until amended or withdrawn.

The company's forecast and projections, taking account of possible changes in trading performance, show that the company should be able to operate within the level of its current facility.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 15% - 33% on reducing balance
Fixtures and fittings - 15% - 33% on reducing balance
Motor vehicles - 33% on cost and 25% on cost
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 year 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 balance sheet date.


REITEN MOTORRAD LIMITED (REGISTERED NUMBER: 11020032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 84,558 37,719 13,211
Additions - - -
At 31 December 2023 84,558 37,719 13,211
DEPRECIATION
At 1 January 2023 40,434 28,673 10,576
Charge for year 8,482 2,683 791
At 31 December 2023 48,916 31,356 11,367
NET BOOK VALUE
At 31 December 2023 35,642 6,363 1,844
At 31 December 2022 44,124 9,046 2,635

REITEN MOTORRAD LIMITED (REGISTERED NUMBER: 11020032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 64,583 31,860 231,931
Additions - 419 419
At 31 December 2023 64,583 32,279 232,350
DEPRECIATION
At 1 January 2023 41,442 31,481 152,606
Charge for year 9,200 460 21,616
At 31 December 2023 50,642 31,941 174,222
NET BOOK VALUE
At 31 December 2023 13,941 338 58,128
At 31 December 2022 23,141 379 79,325

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 25,707
Transfer to ownership (20,000 )
At 31 December 2023 5,707
DEPRECIATION
At 1 January 2023 4,242
Charge for year 8,627
Transfer to ownership (20,000 )
At 31 December 2023 (7,131 )
NET BOOK VALUE
At 31 December 2023 12,838
At 31 December 2022 21,465

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,602 13,191
Other debtors 32,101 35,010
34,703 48,201

REITEN MOTORRAD LIMITED (REGISTERED NUMBER: 11020032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 91,338 19,398
Hire purchase contracts (see note 8) 5,760 6,262
Trade creditors 644,903 658,516
Taxation and social security 48,149 38,646
Other creditors 449,677 386,460
1,239,827 1,109,282

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,167 24,167
Hire purchase contracts (see note 8) 17,433 22,603
Other creditors 100,000 100,000
131,600 146,770

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 5,760 6,262
Between one and five years 17,433 22,603
23,193 28,865

Non-cancellable operating leases
2023 2022
£    £   
Within one year 1,966 1,966
Between one and five years 491 2,457
2,457 4,423

REITEN MOTORRAD LIMITED (REGISTERED NUMBER: 11020032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 24,167 43,565
Hire purchase contracts 23,193 28,865
Trade creditors 494,239 522,700
541,599 595,130

The dealer finance facility is provided by BMW Financial Services (GB) Ltd and is secured by deed of assignment. The deed creates a charge over all monies due from BMW (UK) Ltd on the refund, or repayment, of any deposits paid to BMW (UK) ltd on the supply of motor vehicles on a consignment basis to the company.

The company's bank loans are secured by a fixed and floating charge over the undertaking of the company.

10. TRANSACTIONS WITH DIRECTORS

The Directors have provided a long term loan to the company on commencement of trade of £100,000 (2022: £100,000) which is including within other creditors (note 8). The loan is unsecured and interest free.