Registered number
14219648
Springhead Bikes Ltd
Filleted Accounts
31 July 2024
Springhead Bikes Ltd
Registered number: 14219648
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 217 650
Current assets
Stocks 52,500 53,000
Debtors 4 2,919 4,378
Cash at bank and in hand 2,201 7,273
57,620 64,651
Creditors: amounts falling due within one year 5 (58,379) (64,776)
Net current liabilities (759) (125)
Net (liabilities)/assets (542) 525
Capital and reserves
Called up share capital 100 100
Profit and loss account (642) 425
Shareholders' funds (542) 525
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Ellis
Director
Approved by the board on 26 September 2024
Springhead Bikes Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 1,083
At 31 July 2024 1,083
Depreciation
At 1 August 2023 433
Charge for the year 433
At 31 July 2024 866
Net book value
At 31 July 2024 217
At 31 July 2023 650
4 Debtors 2024 2023
£ £
Prepaid interest 2,919 4,378
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors current account 19,984 39,390
Bank loans and overdrafts 34,504 24,214
Taxation and social security costs 3,241 522
Other creditors 650 650
58,379 64,776
6 Other information
Springhead Bikes Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20 The Harrowins
Queensbury
Bradford
BD13 1FA
Springhead Bikes Ltd 14219648 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 K Ellis No description of principal activity 14219648 2022-08-01 2023-07-31 14219648 core:WithinOneYear 2023-07-31 14219648 core:ShareCapital 2023-07-31 14219648 core:RetainedEarningsAccumulatedLosses 2023-07-31 14219648 2023-08-01 2024-07-31 14219648 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 14219648 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 14219648 bus:Director40 2023-08-01 2024-07-31 14219648 core:PlantMachinery 2023-08-01 2024-07-31 14219648 countries:England 2023-08-01 2024-07-31 14219648 bus:FRS102 2023-08-01 2024-07-31 14219648 bus:FilletedAccounts 2023-08-01 2024-07-31 14219648 2024-07-31 14219648 core:WithinOneYear 2024-07-31 14219648 core:ShareCapital 2024-07-31 14219648 core:RetainedEarningsAccumulatedLosses 2024-07-31 14219648 core:PlantMachinery 2024-07-31 14219648 2023-07-31 14219648 core:PlantMachinery 2023-07-31 iso4217:GBP xbrli:pure