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ST IVES BIKES LIMITED

Registered Number
12672560
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

ST IVES BIKES LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

COLCLOUGH, Benjamin John

Registered Address

St Ives Ebikes
6 Chapel Street
St Ives
TR26 2LR

Registered Number

12672560 (England and Wales)
ST IVES BIKES LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets342,80760,638
42,80760,638
Current assets
Stocks413,0007,934
Debtors515,12212,318
Cash at bank and on hand19,85025,114
47,97245,366
Creditors amounts falling due within one year6(30,977)(32,316)
Net current assets (liabilities)16,99513,050
Total assets less current liabilities59,80273,688
Creditors amounts falling due after one year7(30,575)(52,574)
Provisions for liabilities9(7,480)(6,295)
Net assets21,74714,819
Capital and reserves
Called up share capital22
Profit and loss account21,74514,817
Shareholders' funds21,74714,819
The financial statements were approved and authorised for issue by the Director on 5 February 2025, and are signed on its behalf by:
COLCLOUGH, Benjamin John
Director
Registered Company No. 12672560
ST IVES BIKES LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant and machinery - 5% or 20% Reducing Balance Vehicles - 20% Reducing Balance Office Equipment - 25% Straight Line Leasehold Improvements - 10% Reducing Balance
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 July 231,49255,93410,54584568,816
Additions2,16618,508-32821,002
Disposals-(36,224)--(36,224)
At 30 June 243,65838,21810,5451,17353,594
Depreciation and impairment
At 01 July 23-3,8264,257958,178
Charge for year2173,0751,2582324,782
On disposals-(2,173)--(2,173)
At 30 June 242174,7285,51532710,787
Net book value
At 30 June 243,44133,4905,03084642,807
At 30 June 231,49252,1086,28875060,638
4.Stocks

2024

2023

££
Other stocks13,0007,934
Total13,0007,934
5.Debtors: amounts due within one year

2024

2023

££
Other debtors15,04212,247
Prepayments and accrued income8071
Total15,12212,318
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,45818,235
Taxation and social security6,1637,243
Finance lease and HP contracts2,0002,000
Other creditors16,5914,098
Accrued liabilities and deferred income765740
Total30,97732,316
7.Creditors: amounts due after one year

2024

2023

££
Other creditors30,57552,574
Total30,57552,574
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts1662,165
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,4806,295
Total7,4806,295