Company Registration No. 07810600 (England and Wales)
SCOOTEREARZ LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
SCOOTEREARZ LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SCOOTEREARZ LIMITED
Company Registration No. 07810600
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2022
Notes
£
£
£
£
Current assets
Stocks
-
8,456
Cash at bank and in hand
-
0
5,591
-
0
14,047
Creditors: amounts falling due within one year
4
(6,336)
(24,254)
Net current liabilities
(6,336)
(10,207)
Creditors: amounts falling due after more than one year
5
-
0
(4,960)
Net liabilities
(6,336)
(15,167)
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
(6,337)
(15,168)
Total equity
(6,336)
(15,167)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 4 December 2024
Mrs E Everitt
Director
SCOOTEREARZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Scooterearz Limited is a private company limited by shares incorporated in England and Wales. The registered office is 24 Springfield Meadows, Weybridge, Surrey, KT13 8AJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The director is confident about the company’s ability to trade as a going concern and meet its financial obligations and has confirmed that he will continue to support the company for the foreseeable future. Therefore the company continues to adopt the going concern basis of accounting in preparing the annual financial statements.true

1.3
Reporting period

The reporting period length has been extended from 1 January 2023 to 31 March 2024 to cover a period of 15 months.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for Scooter accessories provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

SCOOTEREARZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 March 2024
100
Depreciation and impairment
At 1 January 2023 and 31 March 2024
100
Carrying amount
At 31 March 2024
-
0
At 31 December 2022
-
0
SCOOTEREARZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
4
Creditors: amounts falling due within one year
2024
2022
£
£
Bank loans and overdrafts
5,108
1,860
Other creditors
1,228
22,394
6,336
24,254
5
Creditors: amounts falling due after more than one year
2024
2022
£
£
Bank loans and overdrafts
-
0
4,960
6
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.1p each
1,000
1,000
1
1
7
Related party transactions

At the balance sheet date the company owed the director E Everitt £328 (2022 - £14,074). This loan is interest free.

 

At the year end the company owed Distinct Sports Brands Limited £Nil (2022 - £7,420) a company which is owned and managed by her family and where the director holds 12% of the shares .

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