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REGISTERED NUMBER: 04573986 (England and Wales)






















Robspeed Motorcycles Limited

Financial Statements for the Year Ended 31st May 2024






Robspeed Motorcycles Limited (Registered number: 04573986)






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


Robspeed Motorcycles Limited

Company Information
for the year ended 31st May 2024







DIRECTORS: R Stewart
Mrs E M Kamis





SECRETARY: R Stewart





REGISTERED OFFICE: 368-378 Cleethorpes Road
Grimsby
N E Lincolnshire
DN31 3DH





REGISTERED NUMBER: 04573986 (England and Wales)





AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
HU2 8BA

Robspeed Motorcycles Limited (Registered number: 04573986)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 308,547 337,606
Investments 6 - 2
308,547 337,608

CURRENT ASSETS
Stocks 913,606 934,159
Debtors 7 31,433 34,859
Cash at bank 209,411 331,760
1,154,450 1,300,778
CREDITORS
Amounts falling due within one year 8 602,394 702,355
NET CURRENT ASSETS 552,056 598,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

860,603

936,031

CREDITORS
Amounts falling due after more than one
year

9

(10,477

)

(27,734

)

PROVISIONS FOR LIABILITIES (29,356 ) (33,517 )
NET ASSETS 820,770 874,780

CAPITAL AND RESERVES
Called up share capital 10 75 75
Capital redemption reserve 11 25 25
Retained earnings 11 820,670 874,680
SHAREHOLDERS' FUNDS 820,770 874,780

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 25th February 2025 and were signed on its behalf by:





Mrs E M Kamis - Director


Robspeed Motorcycles Limited (Registered number: 04573986)

Notes to the Financial Statements
for the year ended 31st May 2024

1. STATUTORY INFORMATION

Robspeed Motorcycles 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.

The principal accounting policies have remained unchanged from the previous year and are set out below.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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, 15% on reducing balance and 10% on cost

Leasehold improvements - 10% straight line basis

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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


Robspeed Motorcycles Limited (Registered number: 04573986)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

2. ACCOUNTING POLICIES - continued
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 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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account 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 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2023
and 31st May 2024 135,000
AMORTISATION
At 1st June 2023
and 31st May 2024 135,000
NET BOOK VALUE
At 31st May 2024 -
At 31st May 2023 -

Robspeed Motorcycles Limited (Registered number: 04573986)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2023 505,138
Additions 14,626
At 31st May 2024 519,764
DEPRECIATION
At 1st June 2023 167,532
Charge for year 43,685
At 31st May 2024 211,217
NET BOOK VALUE
At 31st May 2024 308,547
At 31st May 2023 337,606

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st June 2023 2
Disposals (2 )
At 31st May 2024 -
NET BOOK VALUE
At 31st May 2024 -
At 31st May 2023 2

The investment balance represents 100% of the share capital of Wheels (Grimsby) Limited and Tidecross Limited.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,735 1,681
Amounts owed by group undertakings 11,163 14,611
Other debtors 18,535 18,567
31,433 34,859

Robspeed Motorcycles Limited (Registered number: 04573986)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,249 10,000
Trade creditors 402,846 485,143
Amounts owed to group undertakings - 1,000
Taxation and social security 82,960 54,789
Other creditors 106,339 151,423
602,394 702,355

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,477 20,002
Other creditors - 7,732
10,477 27,734

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
75 Ordinary £1 75 75

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st June 2023 874,680 25 874,705
Profit for the year 95,990 - 95,990
Dividends (150,000 ) - (150,000 )
At 31st May 2024 820,670 25 820,695

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Stocks ACA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

13. FINANCIAL COMMITMENTS

The company has total lease commitments amounting to £44,000 (2023 £44,000).

Robspeed Motorcycles Limited (Registered number: 04573986)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

14. ULTIMATE PARENT COMPANY

The ultimate controlling party is E M Kamis.

The ultimate parent company is Right Car Holdings (UK) Limited.

The largest and smallest group in which the results of the company are consolidated is that headed by Right Car Holdings (UK) Limited. The consolidated financial statements of the group are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.