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REGISTERED NUMBER: 03114513 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

John Shirt Motorcycles Limited

John Shirt Motorcycles Limited (Registered number: 03114513)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


John Shirt Motorcycles Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J R Shirt
Mrs J Mellor





REGISTERED OFFICE: Harpur Hill Business Park
Harpur Hill
Buxton
Derbyshire
SK17 9JL





REGISTERED NUMBER: 03114513 (England and Wales)





AUDITORS: DLA Chartered Accountants
Statutory Auditors
36A Market Street
New Mills
High Peak
SK22 4AA

John Shirt Motorcycles Limited (Registered number: 03114513)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 300,903 288,035

CURRENT ASSETS
Stocks 1,021,282 576,088
Debtors 5 44,710 45,871
Cash at bank and in hand 5,952 29,161
1,071,944 651,120
CREDITORS
Amounts falling due within one year 6 870,964 464,396
NET CURRENT ASSETS 200,980 186,724
TOTAL ASSETS LESS CURRENT
LIABILITIES

501,883

474,759

CREDITORS
Amounts falling due after more than one
year

7

(43,064

)

(32,772

)

PROVISIONS FOR LIABILITIES (11,976 ) (5,235 )
NET ASSETS 446,843 436,752

CAPITAL AND RESERVES
Called up share capital 900 900
Capital redemption reserve 200 200
Retained earnings 445,743 435,652
SHAREHOLDERS' FUNDS 446,843 436,752

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 28 January 2025 and were signed on its behalf by:




J R Shirt - Director



Mrs J Mellor - Director


John Shirt Motorcycles Limited (Registered number: 03114513)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

John Shirt Motorcycles 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.Turnover is recognised at the point of despatch for all goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Depreciation is not provided on freehold property as the length of the useful economic life, and the high residual value make the charge immaterial.

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 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.

John Shirt Motorcycles Limited (Registered number: 03114513)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 May 2023 225,392 255,061 57,795
Additions - - 21,917
At 30 April 2024 225,392 255,061 79,712
DEPRECIATION
At 1 May 2023 - 222,901 53,528
Charge for year - 12,753 2,506
At 30 April 2024 - 235,654 56,034
NET BOOK VALUE
At 30 April 2024 225,392 19,407 23,678
At 30 April 2023 225,392 32,160 4,267

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 4,753 72,792 21,336 637,129
Additions - 16,500 - 38,417
At 30 April 2024 4,753 89,292 21,336 675,546
DEPRECIATION
At 1 May 2023 4,539 47,640 20,486 349,094
Charge for year 32 10,131 127 25,549
At 30 April 2024 4,571 57,771 20,613 374,643
NET BOOK VALUE
At 30 April 2024 182 31,521 723 300,903
At 30 April 2023 214 25,152 850 288,035

John Shirt Motorcycles Limited (Registered number: 03114513)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 - 27,000 27,000
Additions 21,917 16,500 38,417
At 30 April 2024 21,917 43,500 65,417
DEPRECIATION
At 1 May 2023 - 11,369 11,369
Charge for year 1,677 7,751 9,428
At 30 April 2024 1,677 19,120 20,797
NET BOOK VALUE
At 30 April 2024 20,240 24,380 44,620
At 30 April 2023 - 15,631 15,631

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 40,164 41,325
Prepayments 4,546 4,546
44,710 45,871

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 17,131 130,322
Hire purchase contracts 12,632 5,330
Trade creditors 774,498 225,202
Tax 24,332 31,276
Social security and other taxes 2,964 2,836
VAT 35,495 58,129
Director's account-JR Shirt 47 114
Director's account - J Mellor 2,115 437
Accrued expenses 1,750 10,750
870,964 464,396

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 1,667 11,667
Hire purchase contracts 31,397 11,105
43,064 32,772

John Shirt Motorcycles Limited (Registered number: 03114513)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 21,667 31,667
Hire Purchase 44,029 16,435
65,696 48,102

The bank overdraft is secured by a formal charge over the land and buildings at Harpur Hill Industrial Estate.

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

The Report of the Auditors was unqualified.

David Lee (Senior Statutory Auditor)
for and on behalf of DLA Chartered Accountants