Registered number: 07192169 | ||||||||
FOR THE YEAR ENDED 31/01/2025 | ||||||||
Prepared By: | ||||||||
Marie-Anne Rose Ltd | ||||||||
Chartered Accountants | ||||||||
Bay Tree Cottage | ||||||||
Crabbswood Lane | ||||||||
Sway | ||||||||
Hampshire | ||||||||
SO41 6EQ |
Forest Leisure Cycling Burley Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/01/2025 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Hampshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 07192169 | ||||||||
ACCOUNTANTS | ||||||||
Marie-Anne Rose Ltd | ||||||||
Chartered Accountants | ||||||||
Bay Tree Cottage | ||||||||
Crabbswood Lane | ||||||||
Sway | ||||||||
Hampshire | ||||||||
SO41 6EQ |
Forest Leisure Cycling Burley Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/01/2025 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Forest Leisure Cycling Burley Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2025 | 2024 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
328,645 | 651,995 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS | 507,740 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 4,843 | 14,950 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Profit and loss account | 250,157 | 516,660 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Forest Leisure Cycling Burley Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/01/2025 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Commercial Vehicles | reducing balance 25% | |||||||
Fixtures and Fittings | reducing balance 15% | |||||||
Equipment | reducing balance 15% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Goodwill | ||||||||
1f. Government Grants | ||||||||
Government grants are recognised in profit and loss in the year in which they are received. |
Forest Leisure Cycling Burley Ltd | ||||||||
1g. Leasing Commitments | ||||||||
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis. |
2. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/02/2024 | 200,000 | 200,000 | ||
At 31/01/2025 | 200,000 | 200,000 | ||
Depreciation | ||||
At 01/02/2024 | 200,000 | 200,000 | ||
At 31/01/2025 | 200,000 | 200,000 | ||
Net Book Amounts | ||||
At 31/01/2025 | ||||
3. TANGIBLE FIXED ASSETS | ||||||||
Commercial | Fixtures | |||||||
Vehicles | and Fittings | Equipment | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 01/02/2024 | 37,705 | 15,771 | 41,557 | 95,033 | ||||
Additions | 27,911 | 1,215 | 3,364 | 32,490 | ||||
Disposals | (56,588) | (13,462) | (25,785) | (95,835) | ||||
At 31/01/2025 | 9,028 | 3,524 | 19,136 | 31,688 | ||||
Depreciation | ||||||||
At 01/02/2024 | 31,595 | 8,853 | 23,252 | 63,700 | ||||
Disposals | (31,351) | (8,566) | (16,993) | (56,910) | ||||
For the year | 7,178 | 977 | 2,473 | 10,628 | ||||
At 31/01/2025 | 7,422 | 1,264 | 8,732 | 17,418 | ||||
Net Book Amounts | ||||||||
At 31/01/2025 | 14,270 | |||||||
At 31/01/2024 | 31,333 | |||||||
Forest Leisure Cycling Burley Ltd | ||||||||
4. STOCK | 2025 | 2024 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
5. DEBTORS | 2025 | 2024 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 1,489 | - | ||||||
Prepayments | 8,474 | 11,975 | ||||||
9,963 | 11,975 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2025 | 2024 | |||||||
£ | £ | |||||||
UK corporation tax | 12,175 | 42,176 | ||||||
Other tax | 16,349 | 23,431 | ||||||
Bank Loan | 10,000 | 10,000 | ||||||
Hire purchase | - | 2,000 | ||||||
Trade creditors | 40,998 | 49,878 | ||||||
Other creditors | 2,958 | 13,270 | ||||||
Accruals | 2,500 | 3,500 | ||||||
84,980 | 144,255 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2025 | 2024 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 4,843 | 14,950 | ||||||
4,843 | 14,950 | |||||||
Forest Leisure Cycling Burley Ltd | ||||||||
8. EMPLOYEES | ||||||
2025 | 2024 | |||||
No. | No. | |||||
Average number of employees | 22 | |||||
9. PROVISIONS FOR LIABILITIES | 2025 | 2024 | ||||||
£ | £ | |||||||
Deferred taxation | 2,835 | 7,363 | ||||||
2,835 | 7,363 | |||||||
10. SHARE CAPITAL | 2025 | 2024 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
11. OTHER FINANCIAL COMMITMENTS | ||||||||
At 31/01/2025 the company was committed to making the following payments under non-cancellable operating leases: | ||||||||
2025 | 2024 | |||||||
£ | £ | |||||||
Operating Leases which expire: | ||||||||
Within one year | 7,117 | 2,787 | ||||||
Within two to five years | 26,379 | 11,149 | ||||||
After 5 years | 5,052 | 697 | ||||||
Forest Leisure Cycling Burley Ltd | ||||||||
12. DEMERGER ASSETS AND LIABILITIES | ||||||||
Assets | £ | |||||||
Plant and equipment | 33,739 | |||||||
Stock | 171,056 | |||||||
Trade debtors | 8,575 | |||||||
Cash | 41,280 | |||||||
Liabilities | ||||||||
Loan | 19,767 | |||||||
Director's loan | 418 | |||||||
Deferred tax | 7,625 |
13. STATUTORY DEMERGER | ||||||||
The company operated from branches in Burley (principally involved in cycle hire) and Lyndhurst (principally involved in retail). The directors agreed that it would be in the best interest of each trade if Burley were to be demerged into a new entity under the sole control of Jon Evans and the Lyndhurst branch retained in Forest Leisure Cycling Burley Ltd under the sole ownership of Tom Farrell. | ||||||||
An assessment was undertaken by Saffery LLP and clearance was sought and obtained from HMRC confirming that the demerger is an exempt distribution in accordance with s1077 CTA 2010 and satisfies the conditions of s1081 and 1083 CTA 2010. The assets and liabilities transferred in the demergr distribution are shown in a separate note. | ||||||||
The demerger took place on 4 December 2024. The impact on the business will not be seen until the next financial year. The director considers that there are good opportunities for growth in the bespoke cycling business. These are not guaranteed however so it is his intention to expand the cycle hire business which should provide more consistent income. |