Year Ended
Registration number:
Certini Bicycle Company Limited
Contents
Company Information |
|
Strategic Report |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Statement of Income and Retained Earnings |
|
Balance Sheet |
|
Notes to the Financial Statements |
Certini Bicycle Company Limited
Company Information
Directors |
Mr R D Carron Mr A Dare Mr D P Carron Mr C A Dare Mrs C Pearce Mr L D Dare |
Company secretary |
Mrs D Dare |
Registered office |
|
Auditors |
|
Certini Bicycle Company Limited
Strategic Report for the Year Ended 30 April 2024
The directors present their strategic report for the year ended 30 April 2024.
Principal activity
The principal activity of the company is the sale of bicycles and bicycle accessories.
Fair review of the business
We feel that while demand was as strong during the last 12 months and the overstock still a problem for the distributors, our ability to take advantage of the situation made the results very satisfying. Consumer demand for bikes and cycling equipment continues to be strong and turnover grew. Sales were up 20.8% on the previous year as did the gross margin to just under 27.7% (2023 – 21.4%) The increase is likely to our buying awareness, and the loss of some of our competitors Stock levels grew slightly compared to the previous year £4.9m (2023 - £4.6m).
The business has continued in its online business and has invested significant time and resource into growing the systems and processes in this area. This has meant continued growth in online activity.
The company has continued to try and manage its costs as effectively as possible although costs such as wages have increased as the retail industry has seen less Government support.
Whilst consumer confidence will undoubtedly be affected by growing inflation and the cost-of-living crisis, participation in cycling has increased and demand for premium products remains high which is expected to support sustainable long-term growth and opportunities. With the great relationship we have with many premium cycling brands Certini is well placed and confident to continue our growth as part of this environment.
The company's key financial and other performance indicators during the year were as follows:
Financial KPIs |
Unit |
2024 |
2023 |
Turnover |
£ |
15,639,987 |
12,952,261 |
Gross profit margin |
% |
28 |
21 |
Principal risks and uncertainties
There are limited risks and uncertainties that might have a significant impact on the company going forward. The major one could be the impact that continued inflation and the cost-of-living crisis will have on consumer spending. The company is able to manage these risks due to its cash reserves and by being one of the leading retailers in the industry. Consumer spending is also expected to continue in the premium product retail space that Certini occupies.
Approved by the
......................................... |
......................................... |
Certini Bicycle Company Limited
Directors' Report for the Year Ended 30 April 2024
The directors present their report and the financial statements for the year ended 30 April 2024.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
There are no major objectives and policies within the company although the business always looks to be lowly geared and to have sufficient cash reserves to manage through any significant impacts that the sector may encounter.
Price risk, credit risk, liquidity risk and cash flow risk
The management team undertake various strategies to address the specific operational risks the company faces. These include closely managing relationships with the key cycling brands to ensure supply, benchmarking of prices across the industry to ensure they are competitive and robust cash flow modelling.
Going concern
The main threat to the business over the last year has been the continued impacts from the cost of living crisis and the overstock from all the major suppliers. Whilst this has had a negative impact, the business still generates reasonable profits, maintains good levels of cash reserves and is lowly geared and thus the directors have concluded that the company is a going concern and therefore the accounts have been prepared on a going concern basis.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the
......................................... |
......................................... |
Certini Bicycle Company Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Certini Bicycle Company Limited
Independent Auditor's Report to the Members of Certini Bicycle Company Limited
Opinion
We have audited the financial statements of Certini Bicycle Company Limited (the 'company') for the year ended 30 April 2024, which comprise the Statement of Income and Retained Earnings, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Certini Bicycle Company Limited
Independent Auditor's Report to the Members of Certini Bicycle Company Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Certini Bicycle Company Limited
Independent Auditor's Report to the Members of Certini Bicycle Company Limited
Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to acts by the company which were contrary to applicable laws and regulations, including fraud.
We considered those laws and regulations that have a direct impact on the preparation of the financial statements, including, but not limited to the reporting framework (FRS 102 and the Companies Act). We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to fraudulent financial reporting.
Audit procedures performed by the engagement team include, but were not limited to, discussion and inquiries with management of compliance with laws and regulations, review of VAT and corporation tax compliance and review of income recognition and cut-off. We also addressed the risk of management override of internal controls, including testing of journals and evaluating whether there was evidence of bias by management that represented a risk of material misstatement due to fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
Unit 18, 23 Melville Building East
Royal William Yard
Devon
PL1 3GW
Certini Bicycle Company Limited
Statement of Income and Retained Earnings
Year Ended 30 April 2024
Note |
2024 |
2023 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
|
|
|
Operating profit |
|
|
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar charges |
( |
( |
|
11,050 |
(13,938) |
||
Profit before tax |
|
|
|
Taxation |
( |
( |
|
Profit for the financial year |
|
|
|
Retained earnings brought forward |
5,165,610 |
5,151,035 |
|
Dividends paid |
( |
( |
|
Retained earnings carried forward |
6,097,261 |
5,165,610 |
Certini Bicycle Company Limited
Balance Sheet
30 April 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Intangible assets |
- |
|
|
Tangible assets |
|
|
|
|
|
||
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
Approved and authorised by the
......................................... |
......................................... |
Company Registration Number: 05725054
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
The company has taken advantage of the exemption, under FRS102 paragraph 1.12(b), from preparing a Statement of Cash Flows on the basis that it is a qualifying entity and its ultimate parent company, Certini Bicycle Company Limited, included the company's cash flows in its own consolidated financial statements. The company is also taking exemption from disclosure of key management personnel compensation and exemption from disclosure of related party transactions entered into between the company and other members of the Certini Holdings No 2 Limited group.
Revenue recognition
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods to customers. Revenue is recognised at the point of the goods being despatched or sold at the till.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold buildings |
2% reducing balance |
Furniture, fittings and equipment |
25% reducing balance |
Motor vehicles |
25% reducing balance |
Other property, plant and equipment |
5% straight line |
Goodwill
Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Over 10 years |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
2024 |
2023 |
|
Saltash sales |
10,349,766 |
8,569,183 |
Bristol sales |
|
|
Birmingham sales |
|
|
|
|
The analysis of the company's Turnover for the year by market is as follows:
2024 |
2023 |
|
UK |
|
|
Rest of world |
|
|
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
2024 |
2023 |
|
Sub lease rental income |
|
|
Miscellaneous other operating income |
|
|
|
|
Operating profit |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
|
Amortisation expense |
|
|
Operating lease expense - other |
|
|
Loss on disposal of property, plant and equipment |
- |
|
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
2024 |
2023 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Pension costs, defined contribution scheme |
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
2024 |
2023 |
|
Administration and support |
|
|
Sales |
|
|
Distribution |
|
|
Management |
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
2024 |
2023 |
|
Remuneration |
|
|
Contributions paid to money purchase schemes |
|
- |
361,097 |
24,000 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
2024 |
2023 |
|
Accruing benefits under money purchase pension scheme |
|
|
Auditor's remuneration |
2024 |
2023 |
|
Audit of the financial statements |
|
|
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Other interest receivable and similar income |
2024 |
2023 |
|
Interest income on bank deposits |
|
|
Interest payable and similar expenses |
2024 |
2023 |
|
Interest expense on other finance liabilities |
|
|
Taxation |
Tax charged/(credited) in the profit and loss account
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
|
|
Deferred taxation |
||
Arising from origination and reversal of timing differences |
|
|
Tax expense in the income statement |
|
|
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
2024 |
2023 |
|
Profit before tax |
|
|
Corporation tax at standard rate |
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
Deferred tax expense relating to changes in tax rates or laws |
|
|
Decrease from effect of tax incentives |
( |
( |
Total tax charge |
|
|
Deferred tax
Deferred tax assets and liabilities
2024 |
Asset |
Liability |
Difference between accumulated depreciation, amortisation and capital allowances |
- |
|
Difference in unpaid pension |
- |
( |
- |
|
2023 |
Asset |
Liability |
Difference between accumulated depreciation, amortisation and capital allowances |
- |
|
Difference in unpaid pension |
- |
( |
- |
|
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Intangible assets |
Goodwill |
Total |
|
Cost or valuation |
||
At 1 May 2023 |
|
|
At 30 April 2024 |
|
|
Amortisation |
||
At 1 May 2023 |
|
|
Amortisation charge |
|
|
At 30 April 2024 |
|
|
Carrying amount |
||
At 30 April 2024 |
- |
- |
At 30 April 2023 |
|
|
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
|
Cost or valuation |
|||||
At 1 May 2023 |
|
|
|
|
|
Additions |
|
|
|
|
|
At 30 April 2024 |
|
|
|
|
|
Depreciation |
|||||
At 1 May 2023 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
At 30 April 2024 |
|
|
|
|
|
Carrying amount |
|||||
At 30 April 2024 |
|
|
|
|
|
At 30 April 2023 |
|
|
|
|
|
Included within the net book value of land and buildings above is £649,835 (2023 - £661,633) in respect of freehold land and buildings and £208,721 (2023 - £174,146) in respect of short leasehold land and buildings.
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Stocks |
2024 |
2023 |
|
Other inventories |
|
|
Included in the above stock total is a provision for £413,630 (2023: £392,136).
Debtors |
2024 |
2023 |
|
Other debtors |
|
|
Prepayments |
|
|
|
|
Cash and cash equivalents |
2024 |
2023 |
|
Cash on hand |
|
|
Cash at bank |
|
|
|
|
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Creditors |
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Social security and other taxes |
|
|
|
Other creditors |
|
|
|
Accruals |
|
|
|
Corporation tax |
119,963 |
21,016 |
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
Loans and borrowings |
2024 |
2023 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
|
2024 |
2023 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
Bank borrowings
The loan is secured with a legal charge over the Saltash commercial property. |
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
|
Not later than one year |
|
|
Later than one year and not later than five years |
|
|
Later than five years |
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Provisions for liabilities |
Deferred tax |
Total |
|
At 1 May 2023 |
|
|
Additional provisions |
|
|
At 30 April 2024 |
|
|
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Certini Bicycle Company Limited
Notes to the Financial Statements
Year Ended 30 April 2024
Related party transactions |
Transactions with directors |
2024 |
At 1 May 2023 |
Advances to director |
Repayments by director |
At 30 April 2024 |
Mr A Dare |
||||
Directors Loan Account |
( |
( |
|
|
Mr R D Carron |
||||
Directors Loan Account |
( |
( |
|
|
2023 |
At 1 May 2022 |
Advances to director |
Repayments by director |
At 30 April 2023 |
Mr A Dare |
||||
Directors Loan Account |
( |
( |
|
( |
Mr R D Carron |
||||
Directors Loan Account |
|
( |
|
( |
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
These financial statements are available upon request from Companies House, Crown Way, Cardiff. Certini (Holdings) Limited and Certini (Holdings) No 2 Limited share a registered office with the company at 10 Kingsmill Road, Tamar View Industrial Estate, Saltash, Cornwall, PL12 6LD.