01 March 2023 29 February 2024 No principle activity is included 03159504 2023-03-01 03159504 2024-02-29 03159504 2023-03-01 2024-02-29 03159504 2023-02-28 03159504 2021-03-01 2023-02-28 03159504 uk-core:WithinOneYear 2024-02-29 03159504 uk-core:WithinOneYear 2023-02-28 03159504 uk-core:ShareCapital 2024-02-29 03159504 uk-core:ShareCapital 2023-02-28 03159504 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 03159504 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 03159504 uk-bus:RegisteredOffice 2023-03-01 2024-02-29 03159504 uk-curr:PoundSterling 2023-03-01 2024-02-29 03159504 uk-core:PlantMachinery 2023-03-01 2024-02-29 03159504 uk-core:Vehicles 2023-03-01 2024-02-29 03159504 uk-bus:FRS102 2023-03-01 2024-02-29 03159504 uk-bus:FullAccounts 2023-03-01 2024-02-29 03159504 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 03159504 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  PROBIKE LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 29 FEBRUARY 2024
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  PROBIKE LIMITED
  ABRIDGED FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 29 FEBRUARY 2024
       
       
  DIRECTOR
       
  P D Langdon
       
       
  SECRETARY
       
  .
       
  REGISTERED OFFICE
       
  Unit 4
Sterling Business Park
Salthouse Road
Brackmills
Northampton
NN4 7EX
       
       
  COMPANY REGISTERED NUMBER
       
  03159504
       
       
  BANKERS
       
  NatWest
       
       
  ACCOUNTANTS
       
  P B Genender and Co
  Chartered Certified Accountants
  Highridge House
235 The Ridgeway
Enfield
Middlesex EN2 8AD
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
   
  Page 1
   
  PROBIKE LIMITED
  ABRIDGED FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 29 FEBRUARY 2024
       
       
       
       
       
       
       
  CONTENTS
       
  Pages
       
  3 Abridged Statement of Financial Position  
       
  4-6 Notes to the Financial Statements  
       
     
   
  Page 2
   
  PROBIKE LIMITED
  Company registered number: 03159504
  ABRIDGED STATEMENT OF FINANCIAL POSITION AT 29 February 2024
           
    Note 2024 2023
      £ £ £
  FIXED ASSETS
  Property, Plant and Equipment 1,845 3,061
           
  CURRENT ASSETS
  Inventories   251,511 235,354
  Debtors   133,548 157,160
  Cash at bank and in hand   1,422,007 1,383,881
      1,807,066 1,776,395
  CREDITORS: Amounts falling due within one year   164,184 283,551
  NET CURRENT ASSETS   1,642,882 1,492,844
  TOTAL ASSETS LESS CURRENT LIABILITIES   1,644,727 1,495,905
           
  PROVISIONS FOR LIABILITIES   (348) (546)
  NET ASSETS   £1,644,379 £1,495,359
       
  CAPITAL AND RESERVES
  Called up share capital   100 100
  Retained earnings   1,644,279 1,495,259
  SHAREHOLDERS' FUNDS   £1,644,379 £1,495,359
       
  In approving these financial statements as director of the company I hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
       
  These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies
  All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 29 February 2024 in accordance with Section 444 (2A) of the Companies Act 2006
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered
  The financial statements were approved and authorised for issue by the Board of Directors on 24 August 2024
 
 
       
  P D Langdon, Director
   
  Page 3
   
  PROBIKE LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 29 FEBRUARY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Probike Limited is a Limited company incorporated in England and Wales.
         
  Registered & Trading Office:
  Unit 4
Sterling Business Park
Salthouse Road
Brackmills
Northampton
NN4 7EX
         
         
  Basis of accounting
         
  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" and the Companies Act 2006.
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Taxation
         
  Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
         
 
         
 
       
1d. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Short leasehold properties Reducing balance 15%  
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
         
1e. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
   
  Page 4
   
  PROBIKE LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 29 FEBRUARY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1f. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1g. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1h. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1i. Foreign currencies
         
  Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
         
         
1j. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
         
1k. Discontinued operations
         
  A discontinued operation is a component of the Company's business, the operations and cash flows of which can be clearly distinguished from the rest of the Company and which represents a separate major line of business or geographical area of operations, or is part of a signal coordinated disposal of a separate major line of business or geographical area of operations, or is a subsidiary acquired exclusively with a review to resale.
         
   
  Page 5
   
  PROBIKE LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 29 FEBRUARY 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1l. Provisions
         
  Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
         
       
       
2. DIRECTORS AND EMPLOYEES
       
       
  Employee costs during the year amounted to: 2024 2023
    £ £
  Wages and salaries 182,029 162,481
  Pension costs 4,833 4,019
    £186,862 £166,500
   
  The average weekly number of employees during the year were as follows:
    2024 2023
    No. No.
  Management and administration 7 7
   
  Directors' remuneration:
    2024 2023
    £ £
  Remuneration 26,000 25,000
       
3. FIXED ASSETS
    Property Total
    Plant &  
    Equipment  
    £ £
  Cost or valuation
  At 1 March 2023 46,669 46,669
  Additions 275 275
  At 29 February 2024 46,944 46,944
  Provision for Depreciation,
  Amortisation and Impairment
  At 1 March 2023 43,608 43,608
  For the year 1,491 1,491
  At 29 February 2024 45,099 45,099
  Net Book Value
  At 29 February 2024 1,845 1,845
  At 28 February 2023 3,061 3,061
   
   
  Page 6