Registered number
09951132
Eco Quad Bikes Ltd
(formerly Kids Quad Bikes Ltd)
Filleted Accounts
31 March 2024
Eco Quad Bikes Ltd
Registered number: 09951132
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 15,574 29,448
Current assets
Stocks 133,236 73,416
Debtors 5 67,247 22,375
Cash at bank and in hand 347,158 382,028
547,641 477,819
Creditors: amounts falling due within one year 6 (132,310) (92,424)
Net current assets 415,331 385,395
Total assets less current liabilities 430,905 414,843
Provisions for liabilities (2,315) (4,307)
Net assets 428,590 410,536
Capital and reserves
Called up share capital 1 1
Profit and loss account 428,589 410,535
Shareholders' funds 428,590 410,536
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Ainge
Director
Approved by the board on 17 October 2024
Eco Quad Bikes Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 5 years
Plant and machinery over 4 years
Fixtures, fittings and equipment over 3 years
Commercial vehicles over 3 years
Cars 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 19,500
At 31 March 2024 19,500
Amortisation
At 1 April 2023 19,500
At 31 March 2024 19,500
Net book value
At 31 March 2024 -
Goodwill was written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Leasehold Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 16,951 7,361 56,189 80,501
Additions - 1,116 - 1,116
At 31 March 2024 16,951 8,477 56,189 81,617
Depreciation
At 1 April 2023 10,171 5,738 35,144 51,053
Charge for the year 3,390 1,077 10,523 14,990
At 31 March 2024 13,561 6,815 45,667 66,043
Net book value
At 31 March 2024 3,390 1,662 10,522 15,574
At 31 March 2023 6,780 1,623 21,045 29,448
5 Debtors 2024 2023
£ £
Trade debtors 7,913 11,356
Other debtors 59,334 11,019
67,247 22,375
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 67,299 6,168
Corporation Tax 38,141 41,905
Other taxes and social security costs 24,140 29,187
Other creditors 2,730 15,164
132,310 92,424
7 Other information
Eco Quad Bikes Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Newmarket Business Centre
341 Exning Road
Newmarket
Suffolk
CB8 0AT
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