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REGISTERED NUMBER: 06634949 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

RS Bike Paints Limited

RS Bike Paints Limited (Registered number: 06634949)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

RS Bike Paints Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mrs H Allen
P G Allen





SECRETARY: P G Allen





REGISTERED OFFICE: CPM House
10 Works Road
Letchworth Garden City
Hertfordshire
SG6 1LB





REGISTERED NUMBER: 06634949 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

RS Bike Paints Limited (Registered number: 06634949)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Intangible assets 5 18,240 21,280
Tangible assets 6 3,726 1,508
21,966 22,788

CURRENT ASSETS
Stocks 29,552 27,030
Debtors 7 14,809 22,100
Cash at bank 50,303 27,820
94,664 76,950
CREDITORS
Amounts falling due within one year 8 (70,255 ) (59,447 )
NET CURRENT ASSETS 24,409 17,503
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,375

40,291

PROVISIONS FOR LIABILITIES 9 (708 ) (348 )
NET ASSETS 45,667 39,943

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 45,367 39,643
SHAREHOLDERS' FUNDS 45,667 39,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Income and Retained Earnings has not been delivered.

RS Bike Paints Limited (Registered number: 06634949)

Statement of Financial Position - continued
31 July 2024



The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





Mrs H Allen - Director


RS Bike Paints Limited (Registered number: 06634949)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

RS Bike Paints 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been amortised evenly over an estimated useful life of 50 years. In 2021, the goodwill was reevaluated and its estimated useful life is deemed to be a further 10 years from August 2020.

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 - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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 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 statement of financial position date.


RS Bike Paints Limited (Registered number: 06634949)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 40,000
AMORTISATION
At 1 August 2023 18,720
Charge for year 3,040
At 31 July 2024 21,760
NET BOOK VALUE
At 31 July 2024 18,240
At 31 July 2023 21,280

RS Bike Paints Limited (Registered number: 06634949)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023 7,699 - 9,689 17,388
Additions 1,879 225 1,275 3,379
At 31 July 2024 9,578 225 10,964 20,767
DEPRECIATION
At 1 August 2023 6,200 - 9,680 15,880
Charge for year 676 56 429 1,161
At 31 July 2024 6,876 56 10,109 17,041
NET BOOK VALUE
At 31 July 2024 2,702 169 855 3,726
At 31 July 2023 1,499 - 9 1,508

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 3,755 20,111
Other debtors 11,054 1,989
14,809 22,100

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 18,770 25,495
Tax 30,003 24,148
Social security and other taxes 9,640 6,362
Directors' current accounts 10,012 1,713
Accrued expenses 1,830 1,729
70,255 59,447

9. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 708 348

Deferred
tax
£   
Balance at 1 August 2023 348
Provided during year 360
Balance at 31 July 2024 708

RS Bike Paints Limited (Registered number: 06634949)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
RS Bike Paints Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RS Bike Paints Limited for the year ended 31 July 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of RS Bike Paints Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of RS Bike Paints Limited and state those matters that we have agreed to state to the Board of Directors of RS Bike Paints Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RS Bike Paints Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that RS Bike Paints Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of RS Bike Paints Limited. You consider that RS Bike Paints Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of RS Bike Paints Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


9 October 2024