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REGISTERED NUMBER: 04533831 (England and Wales)















TRIKE SHOP (UK) LIMITED

Unaudited Financial Statements for the Year Ended 30 September 2023






TRIKE SHOP (UK) LIMITED (Registered number: 04533831)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TRIKE SHOP (UK) LIMITED

Company Information
for the Year Ended 30 September 2023







Directors: Mrs B A Meredith
Mr H R Meredith





Registered office: 7 Neptune Court
Vanguard Way
Cardiff
South Wales
CF24 5PJ





Registered number: 04533831 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

TRIKE SHOP (UK) LIMITED (Registered number: 04533831)

Statement of Financial Position
30 September 2023

2023 2022
Notes £    £   
Fixed assets
Intangible assets 4 - -
Property, plant and equipment 5 16,663 21,183
16,663 21,183

Current assets
Inventories 88,490 76,662
Debtors 6 5,073 5,696
Cash at bank and in hand 90,473 101,728
184,036 184,086
Creditors
Amounts falling due within one year 7 (32,845 ) (78,064 )
Net current assets 151,191 106,022
Total assets less current liabilities 167,854 127,205

Creditors
Amounts falling due after more than one
year

8

-

(1,971

)

Provisions for liabilities 10 (3,044 ) (3,127 )
Net assets 164,810 122,107

Capital and reserves
Called up share capital 100 100
Retained earnings 164,710 122,007
Shareholders' funds 164,810 122,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

TRIKE SHOP (UK) LIMITED (Registered number: 04533831)

Statement of Financial Position - continued
30 September 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





Mr H R Meredith - Director


TRIKE SHOP (UK) LIMITED (Registered number: 04533831)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. Statutory information

TRIKE SHOP (UK) 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.

Turnover
Turnover represents amounts receivable for goods and services provided in the normal cause of business, net of trade discounts, VAT and other sales-related taxes.

Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for goods provided.

Goodwill
Goodwill has been fully amortised within the financial statements

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 5% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Inventories
Inventories 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 and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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 statement of financial position date.


TRIKE SHOP (UK) LIMITED (Registered number: 04533831)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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 statement of financial position 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
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.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 October 2022
and 30 September 2023 30,000
Amortisation
At 1 October 2022
and 30 September 2023 30,000
Net book value
At 30 September 2023 -
At 30 September 2022 -

5. Property, plant and equipment
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
Cost
At 1 October 2022
and 30 September 2023 9,690 26,360 8,988
Depreciation
At 1 October 2022 4,964 21,374 8,702
Charge for year 237 1,392 95
At 30 September 2023 5,201 22,766 8,797
Net book value
At 30 September 2023 4,489 3,594 191
At 30 September 2022 4,726 4,986 286

TRIKE SHOP (UK) LIMITED (Registered number: 04533831)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. Property, plant and equipment - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 October 2022
and 30 September 2023 26,512 2,829 74,379
Depreciation
At 1 October 2022 15,327 2,829 53,196
Charge for year 2,796 - 4,520
At 30 September 2023 18,123 2,829 57,716
Net book value
At 30 September 2023 8,389 - 16,663
At 30 September 2022 11,185 - 21,183

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 October 2022
and 30 September 2023 26,512
Depreciation
At 1 October 2022
and 30 September 2023 15,327
Net book value
At 30 September 2023 11,185
At 30 September 2022 11,185

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 4,900 5,403
Wages - 113
Social security and other tax - 20
Prepayments 173 160
5,073 5,696

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Hire purchase contracts 1,971 3,859
Trade creditors 3,981 24,570
Tax 18,633 7,204
Social security and other taxes 122 -
VAT 2,593 5,946
Other creditors 500 22,917
Directors' current accounts 1,814 11,311
Accrued expenses 3,231 2,257
32,845 78,064

TRIKE SHOP (UK) LIMITED (Registered number: 04533831)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts - 1,971

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 1,971 5,830

The liability is secured on the asset to which it refers.

10. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 3,044 3,127

Deferred
tax
£   
Balance at 1 October 2022 3,127
Credit to Income Statement during year (83 )
Balance at 30 September 2023 3,044

11. Related party disclosures

During the year the company incurred a rental charge totalling £6,000 (2022: £6,000) in respect of a business unit owned by the directors.