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REGISTERED NUMBER: 00465317 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

BILL HARGREAVES CYCLES LTD.

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)






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


BILL HARGREAVES CYCLES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Edward M Vokes
Andrea Vokes





REGISTERED OFFICE: 27 Bradford Road
Dewsbury
West Yorkshire
WF13 2DU





REGISTERED NUMBER: 00465317 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
First Floor, Unit 12
Pennine Business Park
Longbow Close, Bradley
Huddersfield
West Yorkshire
HD2 1GQ

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,755 140,243
Investment property 5 120,000 200,000
255,755 340,243

CURRENT ASSETS
Stocks 511,705 723,638
Debtors 6 2,981 14,218
Cash in hand 825 130
515,511 737,986
CREDITORS
Amounts falling due within one year 7 534,845 671,360
NET CURRENT (LIABILITIES)/ASSETS (19,334 ) 66,626
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,421

406,869

CREDITORS
Amounts falling due after more than
one year

8

(49,185

)

(63,099

)

PROVISIONS FOR LIABILITIES (4,223 ) (36,515 )
NET ASSETS 183,013 307,255

CAPITAL AND RESERVES
Called up share capital 1,800 1,800
Revaluation reserve 76,805 156,805
Profit and loss account 104,408 148,650
183,013 307,255

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.

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

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 Profit and Loss Account 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:




Andrea Vokes - Director



Edward M Vokes - Director


BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

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

1. STATUTORY INFORMATION

Bill Hargreaves 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 as modified by the revaluation of certain assets.

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.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Profit and Loss Account, 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.

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

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.

INCOME RECOGNITION
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

FINANCE COSTS OF DEBT
The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 210,848 14,744 225,592
DEPRECIATION
At 1 February 2023 71,687 13,662 85,349
Charge for year 4,217 271 4,488
At 31 January 2024 75,904 13,933 89,837
NET BOOK VALUE
At 31 January 2024 134,944 811 135,755
At 31 January 2023 139,161 1,082 140,243

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 200,000
Revaluations (80,000 )
At 31 January 2024 120,000
NET BOOK VALUE
At 31 January 2024 120,000
At 31 January 2023 200,000

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

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

5. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2019 189,656
Valuation in 2024 (80,000 )
Cost 10,344
120,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,981 14,218

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 43,761 33,036
Trade creditors 223,564 365,056
Taxation and social security 12,076 4,892
Other creditors 255,444 268,376
534,845 671,360

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 49,185 63,099

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 16,835 6,941
Bank loans 76,111 89,194
92,946 96,135

The bank loan and overdraft are secured on a personal guarantee provided by the directors.

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £9,356 (2023 - £8,937). Contributions totalling £NIL (2023 - £NIL) were payable to the fund at the year end and are included in creditors.

BILL HARGREAVES CYCLES LTD. (REGISTERED NUMBER: 00465317)

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

11. RELATED PARTY DISCLOSURES

Included within creditors are the following loans from directors £238,987 (2023 - £245,844).