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REGISTERED NUMBER: 10151404 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

WIGHT BIKE ECO-SOLUTIONS LIMITED

WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

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


WIGHT BIKE ECO-SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr J Smith





REGISTERED OFFICE: 1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA





REGISTERED NUMBER: 10151404 (England and Wales)





ACCOUNTANTS: Mackenzies
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 170 170
Tangible assets 5 15,628 12,212
15,798 12,382

CURRENT ASSETS
Stocks 6 56,919 112,615
Debtors 7 9,199 850
Cash at bank 105,457 107,641
171,575 221,106
CREDITORS
Amounts falling due within one year 8 51,186 87,393
NET CURRENT ASSETS 120,389 133,713
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,187

146,095

CREDITORS
Amounts falling due after more than one
year

9

(9,000

)

(18,000

)

PROVISIONS FOR LIABILITIES (2,969 ) -
NET ASSETS 124,218 128,095

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 124,118 127,995
SHAREHOLDERS' FUNDS 124,218 128,095

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 director acknowledges his 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.

WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2024 and were signed by:





Mr J Smith - Director


WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Wight Bike Eco-Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Profit and Loss Account, 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.

WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 June 2023
and 31 May 2024 170
NET BOOK VALUE
At 31 May 2024 170
At 31 May 2023 170

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 June 2023 2,897 3,490 16,000 3,541 25,928
Additions 5,177 - - 1,276 6,453
At 31 May 2024 8,074 3,490 16,000 4,817 32,381
DEPRECIATION
At 1 June 2023 890 1,806 9,250 1,770 13,716
Charge for year 402 421 1,688 526 3,037
At 31 May 2024 1,292 2,227 10,938 2,296 16,753
NET BOOK VALUE
At 31 May 2024 6,782 1,263 5,062 2,521 15,628
At 31 May 2023 2,007 1,684 6,750 1,771 12,212

6. STOCKS
2024 2023
£ £
Stocks 56,919 112,615

WIGHT BIKE ECO-SOLUTIONS LIMITED (REGISTERED NUMBER: 10151404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 8,349 -
Other debtors 100 100
Prepayments 750 750
9,199 850

Other debtors consist of an amount receivable on account of unpaid shares.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 9,000 9,000
Trade creditors 14,802 13,810
Tax 5,704 1,231
VAT 8,607 13,480
Other creditors 6,314 1,629
Directors' current accounts 6,434 47,989
Accrued expenses 325 254
51,186 87,393

Other creditors relate to a loan of £1,500 (2023: £1,500), an amount due on account of pensions of £37 (2023: £129), and a prepayment from the client of £4,777.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 2-5 years 9,000 18,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J Smith.