Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2022-08-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11485089 2022-08-01 2024-01-31 11485089 2021-08-01 2022-07-31 11485089 2024-01-31 11485089 2022-07-31 11485089 c:Director1 2022-08-01 2024-01-31 11485089 c:Director2 2022-08-01 2024-01-31 11485089 c:RegisteredOffice 2022-08-01 2024-01-31 11485089 d:ComputerEquipment 2022-08-01 2024-01-31 11485089 d:ComputerEquipment 2024-01-31 11485089 d:ComputerEquipment 2022-07-31 11485089 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-08-01 2024-01-31 11485089 d:CurrentFinancialInstruments 2024-01-31 11485089 d:CurrentFinancialInstruments 2022-07-31 11485089 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 11485089 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 11485089 d:ShareCapital 2024-01-31 11485089 d:ShareCapital 2022-07-31 11485089 d:RetainedEarningsAccumulatedLosses 2024-01-31 11485089 d:RetainedEarningsAccumulatedLosses 2022-07-31 11485089 c:FRS102 2022-08-01 2024-01-31 11485089 c:AuditExempt-NoAccountantsReport 2022-08-01 2024-01-31 11485089 c:FullAccounts 2022-08-01 2024-01-31 11485089 c:PrivateLimitedCompanyLtd 2022-08-01 2024-01-31 11485089 e:PoundSterling 2022-08-01 2024-01-31 iso4217:GBP xbrli:pure
Company registration number: 11485089







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 JANUARY 2024


HONEST RIDERS LTD






































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HONEST RIDERS LTD
 


 
COMPANY INFORMATION


Directors
T D Kiff 
Z M Kiff 




Registered number
11485089



Registered office
Richmond House
Walkern Road

Stevenage

United Kingdom

SG1 3QP




Accountants
Menzies LLP
Chartered Accountants

Richmond House

Walkern Road

Stevenage

Herts

SG1 3QP





 


HONEST RIDERS LTD
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 6


 


HONEST RIDERS LTD
REGISTERED NUMBER:11485089



STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

31 January
31 July
2024
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
563
1,238

  
563
1,238

Current assets
  

Stocks
  
21,254
35,795

Debtors: amounts falling due within one year
 5 
618
365

Bank and cash balances
  
1,432
2,590

  
23,304
38,750

Creditors: amounts falling due within one year
 6 
(22,891)
(18,527)

Net current assets
  
 
 
413
 
 
20,223

Total assets less current liabilities
  
976
21,461

  

Net assets
  
976
21,461


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
876
21,361

  
976
21,461


Page 1

 


HONEST RIDERS LTD
REGISTERED NUMBER:11485089


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Z M Kiff
Director

Date: 20 February 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


HONEST RIDERS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

1.


General information

Honest Riders Ltd 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. 
The presentation currency of the financial statements is the Pound Sterling (£). 
The comparative period shown in the financial statements is a 12 month period from 1st August 2021 to 31st July 2022. The directors have chosen to extend the financial reporting date to 31st January 2024. The extended current period should be taken into account when reviewing the information within the financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 


HONEST RIDERS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Tangible fixed assets

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:

Computer equipment
-
33%

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 profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.6

Financial instruments

Page 4

 


HONEST RIDERS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 2).


4.


Tangible fixed assets







Computer equipment

£



Cost or valuation


At 1 August 2022
1,349



At 31 January 2024

1,349



Depreciation


At 1 August 2022
111


Charge for the period on financed assets
675



At 31 January 2024

786



Net book value



At 31 January 2024
563



At 31 July 2022
1,238


5.


Debtors

31 January
31 July
2024
2022
£
£


Trade debtors
-
365

Other debtors
618
-

618
365


Page 5

 


HONEST RIDERS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

6.


Creditors: Amounts falling due within one year

31 January
31 July
2024
2022
£
£

Bank loans
154
-

Trade creditors
500
1,861

Other taxation and social security
849
1,484

Other creditors
20,188
13,982

Accruals and deferred income
1,200
1,200

22,891
18,527



7.


Related party transactions

At the balance sheet date the company owed £16,418 (2022: £13,656) to the directors. The balance can be found within creditors due within one year. No interest is being charged on this loan.

 
Page 6