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Registered number: 14128917
BIKE AND SCOOTER LIMITED
Unaudited Financial Statements
For The Year Ended 31 May 2024
ZA LTD
FMAAT AND FFA
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—6
Page 1
Accountants' Report
Report of the Accountant to the director of BIKE AND SCOOTER LIMITED
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 May 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Signed
ZA Ltd
26/10/2024
ZA LTD
FMAAT AND FFA
Page 1
Page 2
Balance Sheet
Registered number: 14128917
31 May 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,351 13,136
12,351 13,136
CURRENT ASSETS
Stocks 5 31,125 34,559
Debtors 6 1,730 2,165
Cash at bank and in hand 9,127 11,455
41,982 48,179
Creditors: Amounts Falling Due Within One Year 7 (50,950 ) (60,387 )
NET CURRENT ASSETS (LIABILITIES) (8,968 ) (12,208 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,383 928
NET ASSETS 3,383 928
CAPITAL AND RESERVES
Called up share capital 8 120 120
Profit and Loss Account 3,263 808
SHAREHOLDERS' FUNDS 3,383 928
Page 2
Page 3
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Louay Maki
Director
26/10/2024
The notes on pages 5 to 6 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 24 May 2023 120 (3,707 ) (3,587)
Profit for the period and total comprehensive income - 4,515 4,515
As at 31 May 2023 and 1 June 2023 120 808 928
Profit for the year and total comprehensive income - 2,455 2,455
As at 31 May 2024 120 3,263 3,383
Page 4
Page 5
Notes to the Financial Statements
1. General Information
BIKE AND SCOOTER LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 14128917 . The registered office is Unit 4 Granville Works, Coronation Road, LONDON, NW10 7QE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 15% on reducing balance method
Fixtures & Fittings 15% on reducing balance method
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 7,010 8,445 15,455
Additions - 1,003 1,003
As at 31 May 2024 7,010 9,448 16,458
Depreciation
As at 1 June 2023 1,052 1,267 2,319
Provided during the period 894 894 1,788
As at 31 May 2024 1,946 2,161 4,107
...CONTINUED
Page 5
Page 6
Net Book Value
As at 31 May 2024 5,064 7,287 12,351
As at 1 June 2023 5,958 7,178 13,136
5. Stocks
31 May 2024 31 May 2023
£ £
Stock 31,125 34,559
6. Debtors
31 May 2024 31 May 2023
£ £
Due within one year
Prepayments and accrued income - 2,165
Other debtors 1,730 -
1,730 2,165
7. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
Trade creditors 2,943 10,674
Other taxes and social security - 68
VAT 762 -
Accruals and deferred income 800 1,200
Director's loan account 46,445 48,445
50,950 60,387
8. Share Capital
31 May 2024 31 May 2023
£ £
Allotted, Called up and fully paid 120 120
Page 6