1 January 2024 false No description of principal activity Taxfiler 2024.6 08789116business:CompanyLimitedByGuarantee2024-01-012024-12-31 087891162023-12-31 087891162024-01-012024-12-31 08789116business:AuditExemptWithAccountantsReport2024-01-012024-12-31 08789116business:FilletedAccounts2024-01-012024-12-31 087891162024-12-31 08789116business:Director12024-01-012024-12-31 08789116business:Director22024-01-012024-12-31 08789116business:Director32024-01-012024-12-31 08789116business:RegisteredOffice2024-01-012024-12-31 087891162023-12-31 08789116core:WithinOneYear2024-12-31 08789116core:WithinOneYear2023-12-31 08789116core:AfterOneYear2024-12-31 08789116core:AfterOneYear2023-12-31 08789116core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 08789116core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 08789116core:PreviouslyStatedAmount2024-12-31 08789116core:PreviouslyStatedAmount2023-12-31 08789116business:SmallEntities2024-01-012024-12-31 08789116countries:EnglandWales2024-01-012024-12-31 08789116core:PlantMachinery2024-01-012024-12-31 08789116core:FurnitureFittings2024-01-012024-12-31 08789116core:ComputerEquipment2024-01-012024-12-31 08789116core:PlantMachinery2023-12-31 08789116core:FurnitureFittings2023-12-31 08789116core:ComputerEquipment2023-12-31 08789116core:PlantMachinery2024-12-31 08789116core:FurnitureFittings2024-12-31 08789116core:ComputerEquipment2024-12-31 08789116core:OtherProvisionsContingentLiabilities2023-12-31 08789116core:OtherProvisionsContingentLiabilities2024-12-31 087891162023-01-012023-12-31 iso4217:GBP xbrli:pure
Company Registration No. 08789116 (England and Wales)
Norwich Bicycle Repair Co-operative Ltd Unaudited accounts for the year ended 31 December 2024
Norwich Bicycle Repair Co-operative Ltd Unaudited accounts Contents
Page
- 2 -
Norwich Bicycle Repair Co-operative Ltd Company Information for the year ended 31 December 2024
Directors
Mark Smith Charlie Brockhouse Smith Sharman Ingram
Company Number
08789116 (England and Wales)
Registered Office
20 Savery Close Norwich Norfolk NR5 8NJ United Kingdom
Accountants
Mrs A C Howell 13 Ipswich Grove Norwich Norfolk NR2 2LU
- 3 -
Norwich Bicycle Repair Co-operative Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,097 
182 
Current assets
Inventories
28,913 
35,619 
Debtors
4,070 
- 
Cash at bank and in hand
5,808 
25,108 
38,791 
60,727 
Creditors: amounts falling due within one year
(10,234)
(10,851)
Net current assets
28,557 
49,876 
Total assets less current liabilities
29,654 
50,058 
Creditors: amounts falling due after more than one year
(4,883)
(9,627)
Provisions for liabilities
Other provisions
(3,000)
(3,000)
Net assets
21,771 
37,431 
Reserves
Profit and loss account
21,771 
37,431 
Members' funds
21,771 
37,431 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by
Charlie Brockhouse Smith Director Company Registration No. 08789116
- 4 -
Norwich Bicycle Repair Co-operative Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Norwich Bicycle Repair Co-operative Ltd is a private company, limited by guarantee, registered in England and Wales, registration number 08789116. The registered office is 20 Savery Close, Norwich, Norfolk, NR5 8NJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
20% straight line
- 5 -
Norwich Bicycle Repair Co-operative Ltd Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
2,399 
840 
433 
3,672 
Additions
79 
87 
1,046 
1,212 
At 31 December 2024
2,478 
927 
1,479 
4,884 
Depreciation
At 1 January 2024
2,294 
763 
433 
3,490 
Charge for the year
47 
41 
209 
297 
At 31 December 2024
2,341 
804 
642 
3,787 
Net book value
At 31 December 2024
137 
123 
837 
1,097 
At 31 December 2023
105 
77 
- 
182 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
826 
- 
Accrued income and prepayments
692 
- 
Other debtors
2,552 
- 
4,070 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
4,800 
4,800 
VAT
417 
928 
Trade creditors
1,953 
569 
Taxes and social security
2,277 
4,554 
Other creditors
787 
- 
10,234 
10,851 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
2,909 
7,653 
Other creditors
1,974 
1,974 
4,883 
9,627 
- 6 -
Norwich Bicycle Repair Co-operative Ltd Notes to the Accounts for the year ended 31 December 2024
8
Provisions for liabilities
£ 
At 1 January 2024
3,000 
At 31 December 2024
3,000 
Other provisions
9
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
10
Average number of employees
During the year the average number of employees was 3 (2023: 4).
- 7 -