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REGISTERED NUMBER: 06302289 (England and Wales)












OSET BIKES LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






OSET BIKES LIMITED (REGISTERED NUMBER: 06302289)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OSET BIKES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr A Samples
Mr N Bloor





SECRETARY: Mr D Khushalbhai





REGISTERED OFFICE: Oset Bikes Limited
Ashby Road
Measham
Swadlincote
DE12 7JP





REGISTERED NUMBER: 06302289 (England and Wales)





AUDITORS: Fruition Advisory LLP
29 Wood Street
Stratford-upon-Avon
CV37 6JG

OSET BIKES LIMITED (REGISTERED NUMBER: 06302289)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 735,304 75,827

CURRENT ASSETS
Stocks 1,204,357 776,382
Debtors 5 487,230 1,877,522
Cash at bank and in hand 301,589 68,434
1,993,176 2,722,338
CREDITORS
Amounts falling due within one year 6 5,857,499 3,534,427
NET CURRENT LIABILITIES (3,864,323 ) (812,089 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,129,019

)

(736,262

)

PROVISIONS FOR LIABILITIES 17,221 17,221
NET LIABILITIES (3,146,240 ) (753,483 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (3,146,340 ) (753,583 )
(3,146,240 ) (753,483 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by:





Mr A Samples - Director


OSET BIKES LIMITED (REGISTERED NUMBER: 06302289)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Oset Bikes 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property - Over the length of the lease
Plant and machinery - 10% - 33% -straight line
Motor vehicles - 33% straight line
Fixture & fittings - 33% straight line
Computer equipment - 33% straight line
Tooling - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in Statement of Income and Retained Earnings.

Stocks and work in progress
Stocks and work in progress are valued at the lower of costs 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.


OSET BIKES LIMITED (REGISTERED NUMBER: 06302289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

OSET BIKES LIMITED (REGISTERED NUMBER: 06302289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business

Trade debtors are recognised at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provison for impairment. A provison for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and Cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period. If there is an unconditional right to defer settlement for at least twelve months after the reporting period, they are presented as non-current liabilities.

Trade creditors are recgonised initially at the transaction price and subsequently measured at amortised cost using the effecting interest method.

Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources or receivables, net of the direct cost of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 25,533 221,970 247,503
Additions - 842,571 842,571
Disposals - (4,800 ) (4,800 )
At 30 June 2024 25,533 1,059,741 1,085,274
DEPRECIATION
At 1 July 2023 19,456 152,220 171,676
Charge for year 6,077 173,550 179,627
Eliminated on disposal - (1,333 ) (1,333 )
At 30 June 2024 25,533 324,437 349,970
NET BOOK VALUE
At 30 June 2024 - 735,304 735,304
At 30 June 2023 6,077 69,750 75,827

OSET BIKES LIMITED (REGISTERED NUMBER: 06302289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 97,973 98,215
Other debtors 389,257 1,779,307
487,230 1,877,522

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 16
Trade creditors 44,889 118,986
Amounts owed to group undertakings 5,534,432 3,320,312
Taxation and social security - 66,132
Other creditors 278,178 28,981
5,857,499 3,534,427

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michelle Vincent (Senior Statutory Auditor)
for and on behalf of Fruition Advisory LLP

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The company's immediate parent is Triumph Motorcycles Limited, incorporated in England & Wales.

The ultimate parent is Bloor Investments Limited, incorporated in England & Wales.

The most senior parent entity producing publicly available financial statements is Bloor investments Limited.These financial statements are available upon request from Ashby Road, Measham, Swadlincote, Derbyshire, DE12 7JP.