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REGISTERED NUMBER: 02001267 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PEDALPOWER (MARKET HARBOROUGH)
LIMITED

PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PEDALPOWER (MARKET HARBOROUGH)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr SM Allen
Mr EJ Allen
Mrs CD Stell





REGISTERED OFFICE: 4 Berry Close
Great Bowden
Market Harborough
Leicestershire
LE16 7ES





REGISTERED NUMBER: 02001267 (England and Wales)

PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 154,929 161,163
Investments 5 132,392 117,490
287,321 278,653

CURRENT ASSETS
Stocks 26,544 38,079
Debtors 6 87,590 75,214
Cash at bank 120,637 74,559
234,771 187,852
CREDITORS
Amounts falling due within one year 7 123,682 128,506
NET CURRENT ASSETS 111,089 59,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,410

337,999

PROVISIONS FOR LIABILITIES 11,910 12,633
NET ASSETS 386,500 325,366

CAPITAL AND RESERVES
Called up share capital 125 125
Revaluation reserve 94,133 79,232
Capital redemption reserve 75 75
Retained earnings 292,167 245,934
SHAREHOLDERS' FUNDS 386,500 325,366

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

BALANCE SHEET - continued
31 MARCH 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 15 October 2024 and were signed on its behalf by:





Mr SM Allen - Director


PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

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


1. STATUTORY INFORMATION

Pedalpower (Market Harborough) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover excludes discounts, rebates and is shown net of value added tax and other sales taxes.

Revenue is recognised by the company where the amount of revenue can be reliably measured; it is probable that future economic benefits will flow into the entity; and specific criteria have been met for each of the company's activities.

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
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% 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.


PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

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


2. ACCOUNTING POLICIES - continued
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 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 166,400 85,986 19,452 2,350 274,188
Additions - 3,214 2,138 - 5,352
At 31 March 2024 166,400 89,200 21,590 2,350 279,540
DEPRECIATION
At 1 April 2023 55,768 42,553 13,368 1,336 113,025
Charge for year 3,345 6,854 1,235 152 11,586
At 31 March 2024 59,113 49,407 14,603 1,488 124,611
NET BOOK VALUE
At 31 March 2024 107,287 39,793 6,987 862 154,929
At 31 March 2023 110,632 43,433 6,084 1,014 161,163

PEDALPOWER (MARKET HARBOROUGH)
LIMITED (REGISTERED NUMBER: 02001267)

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


5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 April 2023 117,490
Revaluations 14,902
At 31 March 2024 132,392
NET BOOK VALUE
At 31 March 2024 132,392
At 31 March 2023 117,490

Cost or valuation at 31 March 2024 is represented by:

Listed
investments
£   
Valuation in 2024 132,392

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 79,125 71,459
Bad debt provision (584 ) (2,774 )
Prepayments 9,049 6,529
87,590 75,214

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 7,972
Trade creditors 29,874 33,110
Taxation 26,184 24,984
Paye/Ni payable 3,126 786
VAT 16,898 16,052
Wages creditor 423 397
Directors' current accounts 43,501 41,120
Accruals and deferred income 3,676 4,085
123,682 128,506

8. RELATED PARTY DISCLOSURES

At the year end, the company owed £43,501 (2023: £50,120) to the Directors of the company. No interest was charged on either balance.