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REGISTERED NUMBER: SC302614 (Scotland)











Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Cyclehighlands Limited

Cyclehighlands Limited (Registered number: SC302614)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cyclehighlands Limited

Company Information
for the year ended 31 May 2024







DIRECTORS: R Watts
Mrs E A Watts





SECRETARY: Mrs E A Watts





REGISTERED OFFICE: 7 Hawthorn Crescent
Ballater
Aberdeenshire
AB35 5GJ





REGISTERED NUMBER: SC302614 (Scotland)





ACCOUNTANTS: Grampian Accounting
3 Prospect Place
Arnhall Business Park
Westhill
Aberdeenshire
AB32 6SY

Cyclehighlands Limited (Registered number: SC302614)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 295,372 253,395

CURRENT ASSETS
Stocks 454,375 490,303
Debtors 4 3,943 2,503
Cash at bank 204,493 186,588
662,811 679,394
CREDITORS
Amounts falling due within one year 5 194,427 192,045
NET CURRENT ASSETS 468,384 487,349
TOTAL ASSETS LESS CURRENT
LIABILITIES

763,756

740,744

CREDITORS
Amounts falling due after more than one year 6 3,984 12,894
NET ASSETS 759,772 727,850

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 759,770 727,848
SHAREHOLDERS' FUNDS 759,772 727,850

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

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

Cyclehighlands Limited (Registered number: SC302614)

Balance Sheet - continued
31 May 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 1 November 2024 and were signed on its behalf by:





R Watts - Director


Cyclehighlands Limited (Registered number: SC302614)

Notes to the Financial Statements
for the year ended 31 May 2024

1. 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.

This is the first year in which the financial statements have been prepared in accordance with FRS 102. In previous year the financial statements have been prepared in accordance with FRS 105.

The adoption of FRS102 has not resulted in any changes and measurement principles previously adopted.

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.
Land and buildings - in accordance with the property
Plant and machinery etc - 20% on cost

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.

Cyclehighlands Limited (Registered number: SC302614)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

3. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 243,952 48,230 292,182
Additions - 48,276 48,276
Disposals - (19,661 ) (19,661 )
At 31 May 2024 243,952 76,845 320,797
DEPRECIATION
At 1 June 2023 - 38,787 38,787
Charge for year - 6,297 6,297
Eliminated on disposal - (19,659 ) (19,659 )
At 31 May 2024 - 25,425 25,425
NET BOOK VALUE
At 31 May 2024 243,952 51,420 295,372
At 31 May 2023 243,952 9,443 253,395

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 3,943 2,503

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,039 10,039
Trade creditors 122,281 93,747
Taxation and social security 28,010 55,023
Other creditors 34,097 33,236
194,427 192,045

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 3,984 12,894