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REGISTERED NUMBER: 04342090 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 January 2024

for

The Cycle Division Ltd.

The Cycle Division Ltd. (Registered number: 04342090)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Cycle Division Ltd.

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr J W Giles
Mr C J Giles
Mr M D Ingham





SECRETARY: Mr C J Giles





REGISTERED OFFICE: 18 Wesley Street
Castleford
West Yorkshire
WF10 1AE





REGISTERED NUMBER: 04342090 (England and Wales)





ACCOUNTANTS: AccountsAide
18 Wesley Street
Castleford
West Yorkshire
WF10 1AE

The Cycle Division Ltd. (Registered number: 04342090)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 195,698 126,153
195,699 126,154

CURRENT ASSETS
Stocks 1,512,093 1,991,784
Debtors 6 119,169 117,386
Cash at bank and in hand 176,140 91,689
1,807,402 2,200,859
CREDITORS
Amounts falling due within one year 7 569,338 886,720
NET CURRENT ASSETS 1,238,064 1,314,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,433,763

1,440,293

CREDITORS
Amounts falling due after more than one
year

8

(47,720

)

-

PROVISIONS FOR LIABILITIES (46,150 ) (23,706 )
NET ASSETS 1,339,893 1,416,587

CAPITAL AND RESERVES
Called up share capital 122 122
Retained earnings 1,339,771 1,416,465
SHAREHOLDERS' FUNDS 1,339,893 1,416,587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Cycle Division Ltd. (Registered number: 04342090)

Balance Sheet - continued
31 January 2024


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 4 September 2024 and were signed on its behalf by:





Mr C J Giles - Director


The Cycle Division Ltd. (Registered number: 04342090)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

The Cycle Division 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of five years.

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 Landlord's Property - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% 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.

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.

The Cycle Division Ltd. (Registered number: 04342090)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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 makes contributions to personal pension schemes on behalf of directors. The amount charged to the Profit and Loss account represents the amounts contributed during the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 February 2023
and 31 January 2024 2,390
AMORTISATION
At 1 February 2023
and 31 January 2024 2,389
NET BOOK VALUE
At 31 January 2024 1
At 31 January 2023 1

The Cycle Division Ltd. (Registered number: 04342090)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
Landlord's Plant and and
Property machinery fittings
£    £    £   
COST
At 1 February 2023 13,757 248,180 38,615
Additions - 119,838 1,116
Disposals - - (4,466 )
At 31 January 2024 13,757 368,018 35,265
DEPRECIATION
At 1 February 2023 9,631 143,690 24,051
Charge for year 1,376 43,376 5,473
Eliminated on disposal - - (4,463 )
At 31 January 2024 11,007 187,066 25,061
NET BOOK VALUE
At 31 January 2024 2,750 180,952 10,204
At 31 January 2023 4,126 104,490 14,564

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 11,495 7,471 319,518
Additions - 509 121,463
Disposals (11,495 ) (1,210 ) (17,171 )
At 31 January 2024 - 6,770 423,810
DEPRECIATION
At 1 February 2023 11,494 4,499 193,365
Charge for year - 1,687 51,912
Eliminated on disposal (11,494 ) (1,208 ) (17,165 )
At 31 January 2024 - 4,978 228,112
NET BOOK VALUE
At 31 January 2024 - 1,792 195,698
At 31 January 2023 1 2,972 126,153

The Cycle Division Ltd. (Registered number: 04342090)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 95,299
At 31 January 2024 95,299
DEPRECIATION
Charge for year 14,295
At 31 January 2024 14,295
NET BOOK VALUE
At 31 January 2024 81,004

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 82,845 80,552
Other debtors 36,324 36,834
119,169 117,386

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 17,353 -
Trade creditors 409,684 652,490
Taxation and social security 118,679 161,968
Other creditors 23,622 72,262
569,338 886,720

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 47,720 -