Registered number
11662209
Pedibal Bikes Ltd
Unaudited Filleted Accounts
31 March 2024
Pedibal Bikes Ltd
Registered number: 11662209
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £ £ £
Current assets
Stocks 259,498 125,109
Debtors 3 176,367 41,761
Cash at bank and in hand 10,008 12,626
445,873 179,496
Creditors: amounts falling due within one year 4 (307,793) (37,080)
Net current assets 138,080 142,416
Net assets 138,080 142,416
Capital and reserves
Called up share capital 100 100
Profit and loss account 137,980 142,316
Shareholders' funds 138,080 142,416
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Zhuoyan Xu
Director
Approved by the board on 24 December 2024
Pedibal Bikes Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2024 2023
£ £
Trade debtors 39 -
Other debtors 176,328 41,761
176,367 41,761
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 55,121 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 4,570
Taxation and social security costs 23,605 28,160
Other creditors 229,067 4,350
307,793 37,080
5 Controlling party
The company is a wholly owned sudsidiary of Peapple Ltd and is controlled by Peapple Ltd by virtue of a controlling of 100% of the issued ordinary share capital.
6 Other information
Pedibal Bikes Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4, Maple Grove Business Centre
Lawrence Road
Hounslow
TW4 6DR
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