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REGISTERED NUMBER: 07302772 (England and Wales)















Financial Statements for the Year Ended 30 November 2024

for

Allbikes and Allspares Limited

Allbikes and Allspares Limited (Registered number: 07302772)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Allbikes and Allspares Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr P Hall
Mr K J Hall





REGISTERED OFFICE: C/o Haines Watts
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA





REGISTERED NUMBER: 07302772 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Allbikes and Allspares Limited (Registered number: 07302772)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 54,188 62,419
Tangible assets 5 4,376 5,803
58,564 68,222

CURRENT ASSETS
Stocks 233,577 216,177
Debtors 6 2,039 3,670
Cash at bank 612 612
236,228 220,459
CREDITORS
Amounts falling due within one year 7 156,614 136,610
NET CURRENT ASSETS 79,614 83,849
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,178

152,071

CREDITORS
Amounts falling due after more than one
year

8

-

(14,715

)

PROVISIONS FOR LIABILITIES (1,094 ) (1,451 )
NET ASSETS 137,084 135,905

CAPITAL AND RESERVES
Called up share capital 10 90 90
Retained earnings 136,994 135,815
SHAREHOLDERS' FUNDS 137,084 135,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Allbikes and Allspares Limited (Registered number: 07302772)

Balance Sheet - continued
30 November 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 29 April 2025 and were signed on its behalf by:





Mr P Hall - Director


Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Allbikes and Allspares 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts.

Turnover from the provision of goods and services is recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty 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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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, 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.


Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as the financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 164,621
AMORTISATION
At 1 December 2023 102,202
Amortisation for year 8,231
At 30 November 2024 110,433
NET BOOK VALUE
At 30 November 2024 54,188
At 30 November 2023 62,419

Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2023
and 30 November 2024 939 2,728 55,439 6,923 66,029
DEPRECIATION
At 1 December 2023 814 2,234 50,450 6,728 60,226
Charge for year 19 74 1,247 87 1,427
At 30 November 2024 833 2,308 51,697 6,815 61,653
NET BOOK VALUE
At 30 November 2024 106 420 3,742 108 4,376
At 30 November 2023 125 494 4,989 195 5,803

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 739 3,670
Other debtors 1,300 -
2,039 3,670

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 35,855 54,073
Trade creditors 25,582 16,956
Taxation and social security 18,699 27,506
Other creditors 76,478 38,075
156,614 136,610

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 14,715

Allbikes and Allspares Limited (Registered number: 07302772)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 21,140 33,530
Bank loans 14,715 35,258
35,855 68,788

Bank loans are secured by a floating charge over the property owned by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90 Ordinary £1 90 90