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REGISTERED NUMBER: 08839070 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2022 TO 31 JULY 2023

FOR

C W BIKES LIMITED

C W BIKES LIMITED (REGISTERED NUMBER: 08839070)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C W BIKES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 JULY 2023







DIRECTORS: C T Wood
Mrs S D Wood





REGISTERED OFFICE: Rear of Homelea
Town Cross Avenue
Bognor Regis
West Sussex
PO21 2DN





REGISTERED NUMBER: 08839070 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

C W BIKES LIMITED (REGISTERED NUMBER: 08839070)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 2,500 10,000
Tangible assets 5 818,726 770,574
Investment property 6 3,783,562 1,908,275
4,604,788 2,688,849

CURRENT ASSETS
Stocks 473,055 556,757
Debtors 7 149,487 2,935
Cash at bank and in hand 297,288 66,307
919,830 625,999
CREDITORS
Amounts falling due within one year 8 521,098 462,664
NET CURRENT ASSETS 398,732 163,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,003,520

2,852,184

CREDITORS
Amounts falling due after more than one year 9 (2,515,951 ) (893,596 )

PROVISIONS FOR LIABILITIES (21,230 ) (3,370 )

ACCRUALS AND DEFERRED INCOME (356,715 ) (202,825 )
NET ASSETS 2,109,624 1,752,393

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,109,524 1,752,293
2,109,624 1,752,393

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

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

C W BIKES LIMITED (REGISTERED NUMBER: 08839070)

BALANCE SHEET - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





C T Wood - Director


C W BIKES LIMITED (REGISTERED NUMBER: 08839070)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 JULY 2023


1. STATUTORY INFORMATION

C W Bikes 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.

The presentational currency of the financial statements is Pound Sterling (£) which is rounded to the nearest Pound (£).

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost
Motor vehicles etc - 15% on reducing balance
Land - Not depreciated

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified by the director as basis or advanced following the conditions in FRS 102 section 1a. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.


C W BIKES LIMITED (REGISTERED NUMBER: 08839070)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 JULY 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Leasing commitments
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 period was 10 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 February 2022
and 31 July 2023 50,000
AMORTISATION
At 1 February 2022 40,000
Charge for period 7,500
At 31 July 2023 47,500
NET BOOK VALUE
At 31 July 2023 2,500
At 31 January 2022 10,000

C W BIKES LIMITED (REGISTERED NUMBER: 08839070)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 JULY 2023


5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
land machinery vehicles Totals
£ £ £ £
COST
At 1 February 2022 729,033 118,179 19,500 866,712
Additions - 83,335 - 83,335
Disposals - (47,938 ) - (47,938 )
At 31 July 2023 729,033 153,576 19,500 902,109
DEPRECIATION
At 1 February 2022 - 86,817 9,321 96,138
Charge for period - 31,311 2,291 33,602
Eliminated on disposal - (46,357 ) - (46,357 )
At 31 July 2023 - 71,771 11,612 83,383
NET BOOK VALUE
At 31 July 2023 729,033 81,805 7,888 818,726
At 31 January 2022 729,033 31,362 10,179 770,574

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 February 2022 1,908,275
Additions 1,875,287
At 31 July 2023 3,783,562
NET BOOK VALUE
At 31 July 2023 3,783,562
At 31 January 2022 1,908,275

The directors are of the opinion that the valuation of the investment at the date of purchase is reflective of that at the 31 July 2023. The investment property has not been revalued in the current year.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 8,100 2,935
Other debtors 141,387 -
149,487 2,935

C W BIKES LIMITED (REGISTERED NUMBER: 08839070)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 JULY 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts (see note 10) 110,946 41,280
Trade creditors 54,135 7,541
Taxation and social security 99,110 165,965
Other creditors 256,907 247,878
521,098 462,664

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans (see note 10) 2,515,951 893,596

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 698,796 726,676

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£ £
Amounts falling due within one year or on demand:
Bank loans 110,946 41,280

Amounts falling due between one and two years:
Bank loans - 1-2 years 122,504 49,674

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,694,651 117,246

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 698,796 726,676

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 2,626,897 934,876

The bank loans are secured against the investment properties held within the company.

C W BIKES LIMITED (REGISTERED NUMBER: 08839070)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2022 TO 31 JULY 2023


12. OTHER FINANCIAL COMMITMENTS

At 31 July 2023, the company had total commitments under non-cancellable operating leases over the remaining life totalling £14,300 (2022: £nil).