IRIS Accounts Production v24.1.4.33 03237607 Board of Directors 1.1.23 31.12.23 31.12.23 24/9/2024 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh032376072022-12-31032376072023-12-31032376072023-01-012023-12-31032376072021-12-31032376072022-01-012022-12-31032376072022-12-3103237607ns15:EnglandWales2023-01-012023-12-3103237607ns14:PoundSterling2023-01-012023-12-3103237607ns10:Director12023-01-012023-12-3103237607ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103237607ns10:SmallEntities2023-01-012023-12-3103237607ns10:Audited2023-01-012023-12-3103237607ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103237607ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103237607ns10:FullAccounts2023-01-012023-12-3103237607ns10:Director32023-01-012023-12-3103237607ns10:CompanySecretary12023-01-012023-12-3103237607ns10:RegisteredOffice2023-01-012023-12-3103237607ns5:CurrentFinancialInstruments2023-12-3103237607ns5:CurrentFinancialInstruments2022-12-3103237607ns5:ShareCapital2023-12-3103237607ns5:ShareCapital2022-12-3103237607ns5:RetainedEarningsAccumulatedLosses2023-12-3103237607ns5:RetainedEarningsAccumulatedLosses2022-12-3103237607ns5:LeaseholdImprovements2022-12-3103237607ns5:PlantMachinery2022-12-3103237607ns5:FurnitureFittings2022-12-3103237607ns5:LeaseholdImprovements2023-01-012023-12-3103237607ns5:PlantMachinery2023-01-012023-12-3103237607ns5:FurnitureFittings2023-01-012023-12-3103237607ns5:LeaseholdImprovements2023-12-3103237607ns5:PlantMachinery2023-12-3103237607ns5:FurnitureFittings2023-12-3103237607ns5:LeaseholdImprovements2022-12-3103237607ns5:PlantMachinery2022-12-3103237607ns5:FurnitureFittings2022-12-3103237607ns5:MotorVehicles2022-12-3103237607ns5:ComputerEquipment2022-12-3103237607ns5:MotorVehicles2023-01-012023-12-3103237607ns5:ComputerEquipment2023-01-012023-12-3103237607ns5:MotorVehicles2023-12-3103237607ns5:ComputerEquipment2023-12-3103237607ns5:MotorVehicles2022-12-3103237607ns5:ComputerEquipment2022-12-3103237607ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103237607ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 03237607 (England and Wales)


















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KJM SUPERBIKES LIMITED

KJM SUPERBIKES LIMITED (REGISTERED NUMBER: 03237607)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KJM SUPERBIKES LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mrs E Mason
L J Mason



SECRETARY: G Davies



REGISTERED OFFICE: 2A Toogood Lane
Wrightington
Wigan
Lancashire
WN6 9PL



REGISTERED NUMBER: 03237607 (England and Wales)



AUDITORS: Fairhurst
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: Yorkshire Bank plc
3 Orchard Street
Preston
PR1 2EN

KJM SUPERBIKES LIMITED (REGISTERED NUMBER: 03237607)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,219 4,024

CURRENT ASSETS
Stocks 411,458 551,719
Debtors: amounts falling due within one year 5 2,644,919 2,565,156
Cash in hand 11,310 -
3,067,687 3,116,875
CREDITORS
Amounts falling due within one year 6 1,102,388 1,264,842
NET CURRENT ASSETS 1,965,299 1,852,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,968,518

1,856,057

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 1,968,515 1,856,054
SHAREHOLDERS' FUNDS 1,968,518 1,856,057

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





L J Mason - Director


KJM SUPERBIKES LIMITED (REGISTERED NUMBER: 03237607)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

KJM Superbikes 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 the fair value of income received from the sale of new and used motor bikes to both the general public and to other group companies, excluding discounts and value added tax.

The company recognises revenue when the goods have been delivered and the title of goods has passed.

Tangible fixed assets
Tangible fixed assets are measured at cost less depreciation and any impairment.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives as follows:

Improvements to property- 20% on reducing balance
Plant and machinery- 20% on reducing balance
Fixtures and fittings- 20% on reducing balance
Motor vehicles- 20% on reducing balance
Computer equipment- 20% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset in prior periods. A reversal of an impairment loss is recognised immediately in the profit or loss.

Stocks
Stocks are stated at the lower of cost and selling price after any impairment for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.


KJM SUPERBIKES LIMITED (REGISTERED NUMBER: 03237607)

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.

Foreign currencies
Balances at the year end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of transaction.

Leases
Rentals payable under operating leases are charged to the profit or loss on a straight-line basis over the lease term. The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight line basis.

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.

Financial instruments
The following assets and liabilities are classified as basic financial instruments - trade debtors, trade creditors and related party loans. Basic financial instruments are recognised at amortised cost.

Related party loans have no stated interest rate, are payable on demand and are measured at the undiscounted amount due.

Government income
Government income comprises grants and subsidies provided as a direct result of the Covid-19 pandemic.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

KJM SUPERBIKES LIMITED (REGISTERED NUMBER: 03237607)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023
and 31 December 2023 105,345 30,962 27,388
DEPRECIATION
At 1 January 2023 102,544 30,548 27,100
Charge for year 560 83 58
At 31 December 2023 103,104 30,631 27,158
NET BOOK VALUE
At 31 December 2023 2,241 331 230
At 31 December 2022 2,801 414 288

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 5,098 41,101 209,894
DEPRECIATION
At 1 January 2023 5,098 40,580 205,870
Charge for year - 104 805
At 31 December 2023 5,098 40,684 206,675
NET BOOK VALUE
At 31 December 2023 - 417 3,219
At 31 December 2022 - 521 4,024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 130,215 83,345
Amounts owed by group undertakings 2,493,237 2,461,535
Other debtors 20,281 18,732
Deferred tax asset 158 764
Prepayments 1,028 780
2,644,919 2,565,156

KJM SUPERBIKES LIMITED (REGISTERED NUMBER: 03237607)

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 8,058 21,461
Trade creditors 10,025 18,227
Amounts owed to group undertakings 1,003,740 971,026
Tax 34,272 19,414
Social security and other taxes 12,836 122,598
Other creditors 30,830 106,689
Accrued expenses 2,627 5,427
1,102,388 1,264,842

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John B S Fairhurst BA(Hons) FCA (Senior Statutory Auditor)
for and on behalf of Fairhurst

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, premises rent of £50,000 (2022: £50,000) was paid to the directors of the company.

9. ULTIMATE PARENT COMPANY

The ultimate parent company is 2 Moto Limited, which prepares group financial statements. Accounts for 2 Moto Limited can be obtained from its registered office, White Bear Yard, Park Road, Adlington, Chorley, PR7 4HZ.