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REGISTERED NUMBER: 08313992 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Bike2work Scheme Limited

Bike2work Scheme Limited (Registered number: 08313992)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bike2work Scheme Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: B Hatton
Miss A Radcliffe





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 08313992 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Bike2work Scheme Limited (Registered number: 08313992)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,000 22,500
Tangible assets 5 1,340,445 1,635,839
1,358,445 1,658,339

CURRENT ASSETS
Debtors 6 767,390 1,183,566
Cash at bank and in hand 2,894 3,950
770,284 1,187,516
CREDITORS
Amounts falling due within one year 7 1,608,051 2,359,493
NET CURRENT LIABILITIES (837,767 ) (1,171,977 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

520,678

486,362

PROVISIONS FOR LIABILITIES - 1,826
NET ASSETS 520,678 484,536

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 204,900 204,900
Retained earnings 315,578 279,436
SHAREHOLDERS' FUNDS 520,678 484,536

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

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

Bike2work Scheme Limited (Registered number: 08313992)

Balance Sheet - continued
31 December 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 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:





B Hatton - Director


Bike2work Scheme Limited (Registered number: 08313992)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Bike2work Scheme 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
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.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the bike sales and bike rent received or receivable, excluding value added tax. Revenue is recognised on collection of the bikes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, 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 - 33% on cost and 20% on reducing balance

Financial instruments
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or receive

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.


Bike2work Scheme Limited (Registered number: 08313992)

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.

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 7 (2022 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 45,000
AMORTISATION
At 1 January 2023 22,500
Charge for year 4,500
At 31 December 2023 27,000
NET BOOK VALUE
At 31 December 2023 18,000
At 31 December 2022 22,500

Bike2work Scheme Limited (Registered number: 08313992)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 4,316,329
Additions 1,099
At 31 December 2023 4,317,428
DEPRECIATION
At 1 January 2023 2,680,490
Charge for year 296,493
At 31 December 2023 2,976,983
NET BOOK VALUE
At 31 December 2023 1,340,445
At 31 December 2022 1,635,839

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 417,769 -
Other debtors 349,621 1,183,566
767,390 1,183,566

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,258,970 1,047,738
Amounts owed to group undertakings 248,451 288,772
Taxation and social security 1,309 5,714
Other creditors 99,321 1,017,269
1,608,051 2,359,493