LEEDS BIKE MILL LIMITED C.I.C.

Company limited by guarantee

Company Registration Number:
08996508 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

LEEDS BIKE MILL LIMITED C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

LEEDS BIKE MILL LIMITED C.I.C.

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Celia Ashman
Naomi Harriott-Brown
Benjamin Milner
Ludovic Wolfe
George Glew


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
20 November 2024

And signed on behalf of the board by:
Name: Celia Ashman
Status: Director

LEEDS BIKE MILL LIMITED C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 66,182 54,545
Cost of sales: ( 7,218 ) ( 5,167 )
Gross profit(or loss): 58,964 49,378
Administrative expenses: ( 60,551 ) ( 46,809 )
Other operating income: 2,010 3,674
Operating profit(or loss): 423 6,243
Profit(or loss) before tax: 423 6,243
Tax: ( 120 ) ( 1,145 )
Profit(or loss) for the financial year: 303 5,098

LEEDS BIKE MILL LIMITED C.I.C.

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 840 1,050
Total fixed assets: 840 1,050
Current assets
Stocks: 4 9,657 9,231
Debtors: 5 7,845 5,522
Cash at bank and in hand: 19,855 13,711
Total current assets: 37,357 28,464
Creditors: amounts falling due within one year: 6 ( 12,169 ) ( 3,789 )
Net current assets (liabilities): 25,188 24,675
Total assets less current liabilities: 26,028 25,725
Total net assets (liabilities): 26,028 25,725
Members' funds
Profit and loss account: 26,028 25,725
Total members' funds: 26,028 25,725

The notes form part of these financial statements

LEEDS BIKE MILL LIMITED C.I.C.

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 20 November 2024
and signed on behalf of the board by:

Name: Celia Ashman
Status: Director

The notes form part of these financial statements

LEEDS BIKE MILL LIMITED C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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 bike parts and bike services.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any 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: Plant & Machinery Straight line over 10 years

    Other accounting policies

    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. Stock is comprised of bikes and bike parts. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

LEEDS BIKE MILL LIMITED C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 6 6

LEEDS BIKE MILL LIMITED C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 2,100 2,100
Additions
Disposals
Revaluations
Transfers
At 31 March 2024 2,100 2,100
Depreciation
At 1 April 2023 1,050 1,050
Charge for year 210 210
On disposals
Other adjustments
At 31 March 2024 1,260 1,260
Net book value
At 31 March 2024 840 840
At 31 March 2023 1,050 1,050

LEEDS BIKE MILL LIMITED C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Stocks

2024 2023
£ £
Stocks 9,657 9,231
Total 9,657 9,231

LEEDS BIKE MILL LIMITED C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
£ £
Trade debtors 7,434 5,147
Prepayments and accrued income 411 375
Total 7,845 5,522

LEEDS BIKE MILL LIMITED C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 724 552
Taxation and social security 2,477 1,713
Accruals and deferred income 1,878 1,524
Other creditors 7,090
Total 12,169 3,789

COMMUNITY INTEREST ANNUAL REPORT

LEEDS BIKE MILL LIMITED C.I.C.

Company Number: 08996508 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

In the year 2023- 2024 we continued to deliver a programme of free bike maintenance courses, in partnership with Cycle North, the regional cycle training provider, and West Yorkshire Combined Authority (WYCA). In 2023 - 2024 we reached 263 students through our basic and improver (intermediate) courses. This year we have provided advanced bike maintenance training for Cycling UK for their staff and other community group members and for Calderdale council staff who provide Bikeability in schools. The feedback from students continues to be overwhelmingly positive. Our core work of recycling bikes in order to offer the people of Leeds an affordable, reliable and independent form of transport also continues. During this year we sold 159 bikes, as well as offering signposting and advice to our customers. We continue to donate bikes to asylum seekers and refugees through our Fix it to Ride project through funding from Matthew Good Foundation and West Yorkshire Combined Authority. A total of 27 bikes were donated through this scheme. We also passed on nearly 200 bikes to other charitable causes, eg. Bikes for school commute in The Gambia. We have delivered bike fixing services (Dr Bike) out in the community at public venues such as the Old Fire Station in Gipton and at community events organised by Leeds City Council. This has also been expanded to providing learning sessions at several community hubs, Hollybush TCV and St Vincent’s Centre. We have continued to provide Dr Bike services at commercial venues where companies are supporting their employees to cycle to work. At the beginning of 2023 we opened an eBay shop through which we sell rare bikes or collectable items that would not be used through our bike recycling. We have also employed a new member of staff, who is working towards becoming a full co-op member and qualified mechanic.

Consultation with stakeholders

Our stakeholders are mainly people from Leeds who want to find an affordable bicycle or learn cycle maintenance skills. We have increased the number of organisations that we work with and we are planning to expand that further. For the Fix it to Ride project, we continue to liaise with local refugee and asylum seeker organisations to get their insight into what project would be most useful for the people they support. We also ask our volunteers for feedback to ensure the project keeps meeting their needs. We ask participants on our maintenance courses to fill in a feedback form, and everyone who did said they would recommend coming on a course with us. Comments from the feedback forms continue to report that we have excellent, knowledgeable and friendly tutors and that participants often came away feeling more confident with keeping their bicycle in a good state of repair. Our website and social media continued to be key points of contact for stakeholders and email enquiries have increased on last year. People continue to support us by sharing and promoting our events and joining our email list to find out our latest news.

Directors' remuneration

The aggregate amount of emoluments paid to or receivable by directors in respect of qualifying services was £38,200. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director's for loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
25 October 2024

And signed on behalf of the board by:
Name: Celia Ashman
Status: Director