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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

REID BIKES LIMITED

REID BIKES LIMITED (REGISTERED NUMBER: 09295016)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REID BIKES LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2024







DIRECTORS: J A Reid
B C Reid
R A Akam





REGISTERED OFFICE: 4 Vista Place
Coy Pond Business Park
Ingworth Road
Poole
Dorset
BH12 1JY





REGISTERED NUMBER: 09295016 (England and Wales)






REID BIKES LIMITED (REGISTERED NUMBER: 09295016)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,108 42,400

CURRENT ASSETS
Stocks 96,602 21,795
Debtors 5 1,546,700 1,147,851
Cash at bank 314,475 240,909
1,957,777 1,410,555
CREDITORS
Amounts falling due within one year 6 1,755,318 1,139,052
NET CURRENT ASSETS 202,459 271,503
TOTAL ASSETS LESS CURRENT LIABILITIES 247,567 313,903

PROVISIONS FOR LIABILITIES 11,277 10,600
NET ASSETS 236,290 303,303

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 236,190 303,203
SHAREHOLDERS' FUNDS 236,290 303,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 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 23 September 2024 and were signed on its behalf by:





R A Akam - Director


REID BIKES LIMITED (REGISTERED NUMBER: 09295016)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Reid 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.

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 represents net invoiced sales of goods, excluding value added tax. Sales of goods are recognised when the risks and rewards of ownership have been transferred to the customer upon shipment.

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 - 33% on cost
Office equipment - 25% on reducing balance

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and 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 year was 13 (2023 - 11 ) .

REID BIKES LIMITED (REGISTERED NUMBER: 09295016)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 July 2023 40,800 21,157 61,957
Additions 18,758 3,454 22,212
At 30 June 2024 59,558 24,611 84,169
DEPRECIATION
At 1 July 2023 10,287 9,270 19,557
Charge for year 16,044 3,460 19,504
At 30 June 2024 26,331 12,730 39,061
NET BOOK VALUE
At 30 June 2024 33,227 11,881 45,108
At 30 June 2023 30,513 11,887 42,400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,484,130 1,137,120
Other debtors 62,570 10,731
1,546,700 1,147,851

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 41,269 311,593
Amounts owed to associated undertakings 9,035 10,100
Taxation and social security 373,190 330,077
Other creditors 1,331,824 487,282
1,755,318 1,139,052

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. OTHER FINANCIAL COMMITMENTS

At 30 June 2024, the company had lease commitments totalling £82,167.