Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 01387031 Mr C Corby Mr R Jones Mr J R Geddes Mr J R Geddes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01387031 2023-02-28 01387031 2024-02-28 01387031 2023-03-01 2024-02-28 01387031 frs-core:CurrentFinancialInstruments 2024-02-28 01387031 frs-core:Non-currentFinancialInstruments 2024-02-28 01387031 frs-core:ComputerEquipment 2024-02-28 01387031 frs-core:ComputerEquipment 2023-03-01 2024-02-28 01387031 frs-core:ComputerEquipment 2023-02-28 01387031 frs-core:FurnitureFittings 2024-02-28 01387031 frs-core:FurnitureFittings 2023-03-01 2024-02-28 01387031 frs-core:FurnitureFittings 2023-02-28 01387031 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-28 01387031 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 01387031 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 01387031 frs-core:MotorVehicles 2024-02-28 01387031 frs-core:MotorVehicles 2023-03-01 2024-02-28 01387031 frs-core:MotorVehicles 2023-02-28 01387031 frs-core:PlantMachinery 2024-02-28 01387031 frs-core:PlantMachinery 2023-03-01 2024-02-28 01387031 frs-core:PlantMachinery 2023-02-28 01387031 frs-core:ShareCapital 2024-02-28 01387031 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 01387031 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 01387031 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 01387031 frs-bus:SmallEntities 2023-03-01 2024-02-28 01387031 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 01387031 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 01387031 frs-bus:Director1 2023-03-01 2024-02-28 01387031 frs-bus:Director2 2023-03-01 2024-02-28 01387031 frs-bus:Director3 2023-03-01 2024-02-28 01387031 frs-bus:CompanySecretary1 2023-03-01 2024-02-28 01387031 frs-countries:EnglandWales 2023-03-01 2024-02-28 01387031 2022-02-28 01387031 2023-02-28 01387031 2022-03-01 2023-02-28 01387031 frs-core:CurrentFinancialInstruments 2023-02-28 01387031 frs-core:Non-currentFinancialInstruments 2023-02-28 01387031 frs-core:ShareCapital 2023-02-28 01387031 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 01387031
John Geddes (Cycles) Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01387031
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 131,353 107,482
131,353 107,482
CURRENT ASSETS
Stocks 5 21,000 21,000
Debtors 6 10,168 861
Cash at bank and in hand 69,782 97,830
100,950 119,691
Creditors: Amounts Falling Due Within One Year 7 (52,156 ) (54,388 )
NET CURRENT ASSETS (LIABILITIES) 48,794 65,303
TOTAL ASSETS LESS CURRENT LIABILITIES 180,147 172,785
Creditors: Amounts Falling Due After More Than One Year 8 (52,500 ) (52,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,088 ) (2,181 )
NET ASSETS 118,559 118,104
CAPITAL AND RESERVES
Called up share capital 9 999 999
Profit and Loss Account 117,560 117,105
SHAREHOLDERS' FUNDS 118,559 118,104
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For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J R Geddes
Director
27 November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
John Geddes (Cycles) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01387031 . The registered office is 43 Widnes Road, Widnes, Cheshire, WA8 6AZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Turnover
The turnover shown in the profit and loss account represents retail sales of bicycles and bicycle accessories and is recognised immediately.

2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 1% straight line
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Fixtures and fittings 20% reducing balance
Office equipment 33% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.6. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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2.7. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Freehold Plant and machinery Motor vehicles Fixtures and fittings
£ £ £ £
Cost
As at 1 March 2023 100,000 499 37,228 15,991
Additions - - 32,000 -
Disposals - - (16,225 ) -
As at 28 February 2024 100,000 499 53,003 15,991
Depreciation
As at 1 March 2023 4,000 295 29,483 13,300
Provided during the period 1,000 41 3,938 538
Disposals - - (13,503 ) -
As at 28 February 2024 5,000 336 19,918 13,838
Net Book Value
As at 28 February 2024 95,000 163 33,085 2,153
As at 1 March 2023 96,000 204 7,745 2,691
Office equipment Total
£ £
Cost
As at 1 March 2023 4,224 157,942
Additions 579 32,579
Disposals - (16,225 )
As at 28 February 2024 4,803 174,296
Depreciation
As at 1 March 2023 3,382 50,460
Provided during the period 469 5,986
Disposals - (13,503 )
As at 28 February 2024 3,851 42,943
...CONTINUED
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Net Book Value
As at 28 February 2024 952 131,353
As at 1 March 2023 842 107,482
5. Stocks
2024 2023
£ £
Stock 21,000 21,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 10,168 861
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,139 20,995
Bank loans and overdrafts 10,000 10,000
Other creditors 12,006 2,006
Taxation and social security 7,011 21,387
52,156 54,388
The loan is secured by fixed charges dated 01 March 2019 over the company's property.
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 52,500 52,500
Included within creditors: amounts falling due after more than one year is an amount of £40,000 (2023: £40,000) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The loan is secured by fixed charges dated 01 March 2019 over the company's property.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 999 999
10. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
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11. Related Party Transactions
The following related party transactions were undertaken during the year:
The majority shareholders', withdrew £Nil and introduced £Nil (2023: withdrew £2,700 and introduced £Nil). As at the balance sheet date the amount payable was £2,006 (2023: payable £2,006).
The aggregate remuneration paid to key management personnel for the year was £49,044 (2023: £47,875).
The company loaned £100,000 from the majority shareholders to purchase property 34 Widnes Road. As at the balance sheet date the amount payable was £62,500 (2023: £62,500).
No further transactions with related parties were undertaken, other than those under normal market conditions, such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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