Tarka Trail Cycle Hire Ltd |
Registered Number:10711037 |
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2024
Tarka Trail Cycle Hire Ltd
Contents Page
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Statement of Financial Position
3 to 5
Notes to the Financial Statements
Tarka Trail Cycle Hire Ltd
Statement of Financial Position
2023
2024
24,073
31,034
2
Property, plant and equipment |
12,805
15,003
3
36,878
46,037
3,500
3,500
4
Trade and other receivables |
3,303
5,285
5
13,751
Cash and cash equivalents |
2,856
11,641
20,554
Trade and other payables: amounts falling due within |
one year |
(35,369)
(33,458)
6
(14,815)
(21,817)
Net current liabilities
Total assets less current liabilities |
15,061
31,222
Trade and other payables: amounts falling due after |
more than one year |
(4,336)
(2,382)
7
(2,223)
(2,594)
Provisions for liabilities |
10,456
Net assets
24,292
100
100
10,356
24,192
10,456
24,292
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 March 2024
Tarka Trail Cycle Hire Ltd
Statement of Financial Position Continued
Janice Sheila Christmas Director |
Timothy Huxtable Director |
These financial statements were approved and authorised for issue by the Board on 11 October 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2024
Tarka Trail Cycle Hire Ltd
Notes to the Financial Statements
Statutory Information
Tarka Trail Cycle Hire Ltd is a private limited company, limited by shares, domiciled in England and |
Wales, registration number 10711037. |
Principal place of business: |
The Railway Station
Barnstaple
DEVON
EX31 2AU
10/11 Northfield Road
Ilfracombe
DEVON
EX34 8AL
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of |
Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic |
of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the |
historical costs convention as modified by the revaluation of certain assets. |
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 10 years. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Government grants
Government grants are reported on an accruals basis. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
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For the year ended 31 March 2024
Tarka Trail Cycle Hire Ltd
Notes to the Financial Statements Continued
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease. |
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable and fully comply with auto enrolment legislation. |
2. Intangible fixed assets |
Goodwill
69,608
69,608
38,574
6,961
Charge for year
45,535
24,073
31,034
3. Property, plant and equipment |
38,715
6,729
45,444
Provision for depreciation and impairment |
23,712
Charge for year
8,927
32,639
12,805
15,003
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For the year ended 31 March 2024
Tarka Trail Cycle Hire Ltd
Notes to the Financial Statements Continued
2023
2024
3,500
3,500
Inventories are valued at the lower of cost and selling price less costs to complete and sell. Cost is defined as the actual cost of materials. Provision is made for obsolete and slow-moving items. In respect of work in progress this is the percentage of any sales contract that has been completed within the year but invoiced after the year end and is based on the sales invoice total. |
5. Trade and other receivables |
2023
2024
5,285
3,303
6. Trade and other payables: amounts falling due within one year |
2023
2024
4,056
2,103
Taxation and social security |
401
2,322
29,001
30,944
33,458
35,369
7. Trade and other payables: amounts falling due after more than one year |
2023
2024
2,382
4,336
8. Average number of persons employed |
During the year the average number of employees was 7 (2023 : 11)
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