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REGISTERED NUMBER: 05022432 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

SOURCE4 BIKES LIMITED

SOURCE4 BIKES LIMITED (REGISTERED NUMBER: 05022432)






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


SOURCE4 BIKES LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: S Schofield
Mrs H Schofield





SECRETARY: Mrs H Schofield





REGISTERED OFFICE: 1 The Cottages
Maythorne
Nottinghamshire
NG25 0RS





REGISTERED NUMBER: 05022432 (England and Wales)





ACCOUNTANTS: Beeley Hawley & Co Ltd
Chartered Accountants & Business Advisers
52A Westgate
Southwell
Nottinghamshire
NG25 0JX

SOURCE4 BIKES LIMITED (REGISTERED NUMBER: 05022432)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 688 461
Investments 5 100 100
788 561

CURRENT ASSETS
Debtors 6 161,902 133,695
Cash at bank 10,062 42,279
171,964 175,974
CREDITORS
Amounts falling due within one year 7 20,113 27,738
NET CURRENT ASSETS 151,851 148,236
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,639

148,797

CREDITORS
Amounts falling due after more than one
year

8

24,973

29,567
NET ASSETS 127,666 119,230

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 127,566 119,130
SHAREHOLDERS' FUNDS 127,666 119,230

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.

SOURCE4 BIKES LIMITED (REGISTERED NUMBER: 05022432)

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 Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:




S Schofield - Director



Mrs H Schofield - Director


SOURCE4 BIKES LIMITED (REGISTERED NUMBER: 05022432)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Source4 Bikes 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.
Plant and machinery etc - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SOURCE4 BIKES LIMITED (REGISTERED NUMBER: 05022432)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 11,719
Additions 400
At 31 January 2024 12,119
DEPRECIATION
At 1 February 2023 11,258
Charge for year 173
At 31 January 2024 11,431
NET BOOK VALUE
At 31 January 2024 688
At 31 January 2023 461

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 100
NET BOOK VALUE
At 31 January 2024 100
At 31 January 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,694 40,039
Amounts owed by group undertakings 93,442 93,442
Other debtors 7,766 214
161,902 133,695

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,668 4,668
Taxation and social security 13,145 15,458
Other creditors 2,300 7,612
20,113 27,738

SOURCE4 BIKES LIMITED (REGISTERED NUMBER: 05022432)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 24,973 29,567

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,300 10,894