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Registration number: 04972040

Redline Motorcycles Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Redline Motorcycles Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Redline Motorcycles Limited

Company Information

Directors

Mr N T Preston

Registered office

Unit 8
Prince William Way
Loughborough
Leicestershire
LE11 5DD

 

Redline Motorcycles Limited

(Registration number: 04972040)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

99,062

54,253

Current assets

 

Stocks

5

2,290,126

1,456,742

Debtors

227,750

90,936

Cash at bank and in hand

 

496,359

334,849

 

3,014,235

1,882,527

Creditors: Amounts falling due within one year

(2,370,997)

(1,634,796)

Net current assets

 

643,238

247,731

Total assets less current liabilities

 

742,300

301,984

Creditors: Amounts falling due after more than one year

(277,522)

(30,129)

Provisions for liabilities

-

(10,308)

Net assets

 

464,778

261,547

Capital and reserves

 

Called up share capital

6

60

60

Retained earnings

464,718

261,487

Shareholders' funds

 

464,778

261,547

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

Directors responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors has not delivered to the registrar a copy of the Profit and Loss Account.

 

Redline Motorcycles Limited

(Registration number: 04972040)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 1 April 2025
 

.........................................
Mr N T Preston
Director

   
     
 

Redline Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 8
Prince William Way
Loughborough
Leicestershire
LE11 5DD

These financial statements were authorised for issue by the director on 1 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Redline Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Redline Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the directors) during the year, was 11 (2023 - 10).

4

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

-

71,005

55,320

126,325

Additions

7,647

3,301

52,160

63,108

Disposals

-

-

(15,320)

(15,320)

At 30 April 2024

7,647

74,306

92,160

174,113

Depreciation

At 1 May 2023

-

54,920

17,152

72,072

Charge for the year

-

5,112

9,767

14,879

Eliminated on disposal

2,294

-

(14,194)

(11,900)

At 30 April 2024

2,294

60,032

12,725

75,051

Carrying amount

At 30 April 2024

5,353

14,274

79,435

99,062

At 30 April 2023

-

16,085

38,168

54,253

Included within the net book value of land and buildings above is £5,353 (2023 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

2,290,126

1,456,742

 

Redline Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

60

60

60

60

       

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

198,120

-

Hire purchase contracts

79,402

30,129

277,522

30,129

Current loans and borrowings

2024
£

2023
£

Bank borrowings

107,881

-

Hire purchase contracts

5,015

6,383

Other borrowings

72,959

-

185,855

6,383

8

Dividends

2024

2023

£

£

Interim dividend of £993.13 (2023 - £1,787.87) per ordinary share

59,588

107,272

 

 

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £73,500 (2023 - £102,900).

 

Redline Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Related party transactions

 

Redline Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Transactions with the directors

2024

At 1 May 2023
£

Advances to directors
£

Other payments made to company by directors
£

At 30 April 2024
£

Mr N T Preston

Directors loan account

(312)

-

(312)

(624)

2023

At 1 May 2022
£

Other payments made to company by directors
£

At 30 April 2023
£

Mr N T Preston

Directors loan account

-

(312)

(312)

 

Redline Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Summary of transactions with parent

Redline Motorcycles Holdings Limited
During the year a dividend of £59,588 was paid to the parent company, Redline Motorcycles Holdings Limited.

11

Parent and ultimate parent undertaking

The company's immediate parent is Redline Motorcycles Holdings Limited, incorporated in England & Wales.

The address of the parent company is
Unit 8 Prince William Way, Loughborough, Leicestershire, LE11 5DD.