Registered number
12154696
Futurebike Ltd
Filleted Accounts
31 August 2024
Futurebike Ltd
Registered number: 12154696
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Current assets
Stocks 6,000 12,000
Debtors 3 19,692 20,665
Cash at bank and in hand 3,876 1,323
29,568 33,988
Creditors: amounts falling due within one year 4 (900) (5,301)
Net current assets 28,668 28,687
Net assets 28,668 28,687
Capital and reserves
Called up share capital 100 100
Profit and loss account 28,568 28,587
Shareholders' funds 28,668 28,687
The director is 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 director acknowledges his 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.
Adam Lefeuvre
Director
Approved by the board on 25 February 2025
Futurebike Ltd
Notes to the Accounts
for the year ended 31 August 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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Directors 2024 2023
Number Number
Average number of directors 2 2
3 Debtors 2024 2023
£ £
Trade debtors - 383
Other debtors 19,692 20,282
19,692 20,665
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 4,401
Other creditors 900 900
900 5,301
5 Other information
Futurebike Ltd is a private company limited by shares and incorporated in England. Its registered office is:
255 Poulton Road
Wallasey
Wirral
CH44 4BT
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