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REGISTERED NUMBER: 05443614 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2024

for

Cycle Fixit Limited

Cycle Fixit Limited (Registered number: 05443614)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cycle Fixit Limited

Company Information
for the Year Ended 31st May 2024







DIRECTORS: Mr C J Parsons
L M Lavelle





SECRETARY: CWW Secretarial Services Limited





REGISTERED OFFICE: 153 Mortimer Street
Herne Bay
Kent
CT6 5HA





REGISTERED NUMBER: 05443614 (England and Wales)





ACCOUNTANTS: CWW Accountants
153 Mortimer Street
Herne Bay
Kent
CT6 5HA

Cycle Fixit Limited (Registered number: 05443614)

Balance Sheet
31st May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,059 2,132

CURRENT ASSETS
Stocks 20,953 23,511
Debtors 5 1,850 1,850
Cash at bank and in hand 2,958 25,549
25,761 50,910
CREDITORS
Amounts falling due within one year 6 12,942 24,148
NET CURRENT ASSETS 12,819 26,762
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,878

28,894

PROVISIONS FOR LIABILITIES 381 392
NET ASSETS 14,497 28,502

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,397 28,402
SHAREHOLDERS' FUNDS 14,497 28,502

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th February 2025 and were signed on its behalf by:





Mr C J Parsons - Director


Cycle Fixit Limited (Registered number: 05443614)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

Cycle Fixit Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Cycle Fixit Limited (Registered number: 05443614)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st June 2023
and 31st May 2024 1,837 4,399 6,236
DEPRECIATION
At 1st June 2023 - 4,104 4,104
Charge for year - 73 73
At 31st May 2024 - 4,177 4,177
NET BOOK VALUE
At 31st May 2024 1,837 222 2,059
At 31st May 2023 1,837 295 2,132

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 1,850 1,850

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 4,517 8,219
Taxation and social security 8,391 15,906
Other creditors 34 23
12,942 24,148

7. RELATED PARTY DISCLOSURES

During the current and previous year the company was under the control of the directors.