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REGISTERED NUMBER: 10675572 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE BEAN BIKE LTD

THE BEAN BIKE LTD (REGISTERED NUMBER: 10675572)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE BEAN BIKE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M J Parker
C Parker





SECRETARY: M J Parker





REGISTERED OFFICE: 30-34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 10675572 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

THE BEAN BIKE LTD (REGISTERED NUMBER: 10675572)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 156,793 282,305

CURRENT ASSETS
Stocks 6,000 6,000
Debtors 5 5,803 11,825
Cash at bank 17,277 20,663
29,080 38,488
CREDITORS
Amounts falling due within one year 6 (169,911 ) (149,859 )
NET CURRENT LIABILITIES (140,831 ) (111,371 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,962

170,934

CREDITORS
Amounts falling due after more than one
year

7

(97,091

)

(164,587

)
NET (LIABILITIES)/ASSETS (81,129 ) 6,347

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (81,229 ) 6,247
SHAREHOLDERS' FUNDS (81,129 ) 6,347

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 BEAN BIKE LTD (REGISTERED NUMBER: 10675572)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:




C Parker - Director



M J Parker - Director


THE BEAN BIKE LTD (REGISTERED NUMBER: 10675572)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

The Bean Bike 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


THE BEAN BIKE LTD (REGISTERED NUMBER: 10675572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 251,701 13,375 100,080 5,197 370,353
Additions 38,113 3,655 - 2,500 44,268
Disposals (92,550 ) (7,450 ) (77,990 ) - (177,990 )
At 31 March 2024 197,264 9,580 22,090 7,697 236,631
DEPRECIATION
At 1 April 2023 82,572 2,315 - 3,161 88,048
Charge for year 22,863 2,112 5,523 926 31,424
Eliminated on disposal (37,725 ) (1,909 ) - - (39,634 )
At 31 March 2024 67,710 2,518 5,523 4,087 79,838
NET BOOK VALUE
At 31 March 2024 129,554 7,062 16,567 3,610 156,793
At 31 March 2023 169,129 11,060 100,080 2,036 282,305

THE BEAN BIKE LTD (REGISTERED NUMBER: 10675572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 69,980
Disposals (51,990 )
At 31 March 2024 17,990
DEPRECIATION
Charge for year 4,498
At 31 March 2024 4,498
NET BOOK VALUE
At 31 March 2024 13,492
At 31 March 2023 69,980

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 450 -
Other debtors 5,353 11,825
5,803 11,825

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 24,145 31,150
Hire purchase contracts 15,620 7,083
Trade creditors 23,651 8,959
Taxation and social security 10 2,470
Other creditors 106,485 100,197
169,911 149,859

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 92,711 124,725
Hire purchase contracts 4,380 39,862
97,091 164,587

THE BEAN BIKE LTD (REGISTERED NUMBER: 10675572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100