IRIS Accounts Production v24.3.0.553 07719910 Board of Directors Board of Directors 1.8.23 31.7.24 31.7.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077199102023-07-31077199102024-07-31077199102023-08-012024-07-31077199102022-07-31077199102022-08-012023-07-31077199102023-07-3107719910ns15:EnglandWales2023-08-012024-07-3107719910ns14:PoundSterling2023-08-012024-07-3107719910ns10:Director12023-08-012024-07-3107719910ns10:Director22023-08-012024-07-3107719910ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3107719910ns10:SmallEntities2023-08-012024-07-3107719910ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3107719910ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3107719910ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3107719910ns10:FullAccounts2023-08-012024-07-3107719910ns10:Director32023-08-012024-07-3107719910ns10:Director42023-08-012024-07-3107719910ns10:RegisteredOffice2023-08-012024-07-3107719910ns5:CurrentFinancialInstruments2024-07-3107719910ns5:CurrentFinancialInstruments2023-07-3107719910ns5:Non-currentFinancialInstruments2024-07-3107719910ns5:Non-currentFinancialInstruments2023-07-3107719910ns5:ShareCapital2024-07-3107719910ns5:ShareCapital2023-07-3107719910ns5:RetainedEarningsAccumulatedLosses2024-07-3107719910ns5:RetainedEarningsAccumulatedLosses2023-07-3107719910ns5:PlantMachinery2023-08-012024-07-3107719910ns5:LandBuildings2023-07-3107719910ns5:PlantMachinery2023-07-3107719910ns5:LandBuildings2023-08-012024-07-3107719910ns5:LandBuildings2024-07-3107719910ns5:PlantMachinery2024-07-3107719910ns5:LandBuildings2023-07-3107719910ns5:PlantMachinery2023-07-3107719910ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3107719910ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: 07719910 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

MSG Bike Gear Limited

MSG Bike Gear Limited (Registered number: 07719910)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MSG Bike Gear Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr D M Dawson
Mrs J Sutcliffe-Dawson
Mr D Paxton
Mr R J Perkins





REGISTERED OFFICE: Newsham Hall
Aislaby
Eaglescliffe
Stockton on Tees
TS16 0QS





REGISTERED NUMBER: 07719910 (England and Wales)





ACCOUNTANTS: JBC Accountants Limited
Chartered Accountants
3B Lockheed Court
Preston Farm
Stockton on Tees
TS18 3SH

MSG Bike Gear Limited (Registered number: 07719910)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,415 67,977

CURRENT ASSETS
Stocks 688,888 785,551
Debtors 5 89,707 71,308
Cash at bank 6,344 38,505
784,939 895,364
CREDITORS
Amounts falling due within one year 6 637,992 712,336
NET CURRENT ASSETS 146,947 183,028
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,362

251,005

CREDITORS
Amounts falling due after more than one
year

7

(54,393

)

(116,587

)

PROVISIONS FOR LIABILITIES (12,429 ) (12,916 )
NET ASSETS 145,540 121,502

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 145,440 121,402
145,540 121,502

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

MSG Bike Gear Limited (Registered number: 07719910)

Balance Sheet - continued
31 July 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:




Mr D M Dawson - Director



Mrs J Sutcliffe-Dawson - Director


MSG Bike Gear Limited (Registered number: 07719910)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

MSG Bike Gear 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, 25% on cost and 15% 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 profit and loss account.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Current and deferred 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.

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 8 (2023 - 8 ) .

MSG Bike Gear Limited (Registered number: 07719910)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 36,721 119,109 155,830
Additions - 5,711 5,711
At 31 July 2024 36,721 124,820 161,541
DEPRECIATION
At 1 August 2023 - 87,853 87,853
Charge for year - 8,273 8,273
At 31 July 2024 - 96,126 96,126
NET BOOK VALUE
At 31 July 2024 36,721 28,694 65,415
At 31 July 2023 36,721 31,256 67,977

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 84,215 60,171
Other debtors 5,492 11,137
89,707 71,308

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 287,709 296,635
Taxation and social security 29,290 28,151
Other creditors 320,993 387,550
637,992 712,336

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 54,393 116,587