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REGISTERED NUMBER: 01337275 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

RON SPENCER CYCLES LTD

RON SPENCER CYCLES LTD (REGISTERED NUMBER: 01337275)






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


RON SPENCER CYCLES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Miss S C Spencer
P A Spencer





REGISTERED OFFICE: 20 - 24 Crossley Street
Warrington
Cheshire
WA1 2PF





REGISTERED NUMBER: 01337275 (England and Wales)





ACCOUNTANTS: WatkinsonBlack
1st Floor
264 Manchester Road
Warrington
Cheshire
WA1 3RB

RON SPENCER CYCLES LTD (REGISTERED NUMBER: 01337275)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,335 30,948

CURRENT ASSETS
Stocks 141,063 241,600
Debtors 5 24,303 29,415
Cash in hand 975 188
166,341 271,203
CREDITORS
Amounts falling due within one year 6 62,209 87,907
NET CURRENT ASSETS 104,132 183,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,467

214,244

CREDITORS
Amounts falling due after more than one
year

7

25,709

35,559
NET ASSETS 101,758 178,685

RON SPENCER CYCLES LTD (REGISTERED NUMBER: 01337275)

BALANCE SHEET - continued
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 67 67
Revaluation reserve 8 39,200 39,200
Retained earnings 62,491 139,418
SHAREHOLDERS' FUNDS 101,758 178,685

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:




Miss S C Spencer - Director



P A Spencer - Director


RON SPENCER CYCLES LTD (REGISTERED NUMBER: 01337275)

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

1. STATUTORY INFORMATION

Ron Spencer Cycles Ltd 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.
Plant and machinery etc - 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.

RON SPENCER CYCLES LTD (REGISTERED NUMBER: 01337275)

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

2. ACCOUNTING POLICIES - continued

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 105,793
Additions 167
At 31 January 2024 105,960
DEPRECIATION
At 1 February 2023 74,845
Charge for year 7,780
At 31 January 2024 82,625
NET BOOK VALUE
At 31 January 2024 23,335
At 31 January 2023 30,948

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 5,990 11,102
Other debtors 18,313 18,313
24,303 29,415

RON SPENCER CYCLES LTD (REGISTERED NUMBER: 01337275)

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 7,036 1,364
Trade creditors 28,329 66,185
Taxation and social security 6,435 13,618
Other creditors 20,409 6,740
62,209 87,907

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 25,709 35,559

8. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 39,200