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REGISTERED NUMBER: 06390305 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

NEWQUAY BOARDRIDERS LIMITED

NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEWQUAY BOARDRIDERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: J A Fordy





SECRETARY: Ms C L Parrett





REGISTERED OFFICE: The Ranch
Cargreen
Saltash
Cornwall
PL12 6QQ





REGISTERED NUMBER: 06390305 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 109,398 122,993

CURRENT ASSETS
Stocks 40,000 85,184
Debtors 5 23,990 24,725
Cash in hand 1,252 1,252
65,242 111,161
CREDITORS
Amounts falling due within one year 6 229,786 253,906
NET CURRENT LIABILITIES (164,544 ) (142,745 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(55,146

)

(19,752

)

CREDITORS
Amounts falling due after more than one
year

7

36,603

54,361
NET LIABILITIES (91,749 ) (74,113 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (91,849 ) (74,213 )
SHAREHOLDERS' FUNDS (91,749 ) (74,113 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)

BALANCE SHEET - continued
31 JANUARY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:





J A Fordy - Director


NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Newquay Boardriders 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. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the remaining term of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 February 2023 250,000 2,799 206,692
Additions - - 1,641
At 31 January 2024 250,000 2,799 208,333
DEPRECIATION
At 1 February 2023 150,000 2,160 189,147
Charge for year 10,000 160 4,386
At 31 January 2024 160,000 2,320 193,533
NET BOOK VALUE
At 31 January 2024 90,000 479 14,800
At 31 January 2023 100,000 639 17,545

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 14,571 1,026 475,088
Additions - 511 2,152
At 31 January 2024 14,571 1,537 477,240
DEPRECIATION
At 1 February 2023 10,401 387 352,095
Charge for year 1,042 159 15,747
At 31 January 2024 11,443 546 367,842
NET BOOK VALUE
At 31 January 2024 3,128 991 109,398
At 31 January 2023 4,170 639 122,993

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 3,655 1,312
Other debtors 17,877 17,877
Tax - 1,439
Prepayments 2,458 4,097
23,990 24,725

NEWQUAY BOARDRIDERS LIMITED (REGISTERED NUMBER: 06390305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 93,407 94,341
Trade creditors 109,882 139,294
Social security and other taxes 14,115 12,944
Other creditors 9,462 5,739
Directors' current accounts 2,130 352
Accrued expenses 790 1,236
229,786 253,906

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 2-5 years 36,603 54,361

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank overdrafts 73,292 71,868

The bank overdraft is secured by means of an unlimited debenture over the company's assets, dated 5 June 2008. A personal guarantee has also been given by the company's director, Mr JA Fordy.

9. RELATED PARTY DISCLOSURES

During the year the company incurred management charges of £nil (2023: £40,000) from Ride 55 Limited, a company also under the control of Mr J A Fordy.

During the year the company paid the director, Mr J A Fordy, £40,000 (2023: £50,000) in rent.

At the year end the company had a loan to Burfoot Automotive Ltd outstanding of £17,877 (2023: £17,877), a company which Mr J A Fordy is a shareholder and director.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J A Fordy.