Registration number:
C & A Superbikes (King's Lynn) Ltd
for the Year Ended 31 January 2025
C & A Superbikes (King's Lynn) Ltd
Contents
Company Information |
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Statement of financial position |
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Notes to the Unaudited Financial Statements |
C & A Superbikes (King's Lynn) Ltd
Company Information
Directors |
Mr V Vedeikis Mr C Whittred Mr AS Barrett Mr P Savory |
Company secretary |
Mr C Whittred |
Registered office |
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Accountants |
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C & A Superbikes (King's Lynn) Ltd
(Registration number: 05934238)
Statement of financial position as at 31 January 2025
Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,250 |
1,250 |
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Share premium reserve |
49,750 |
49,750 |
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Retained earnings |
(33,572) |
(31,180) |
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Shareholders' funds |
17,428 |
19,820 |
For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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C & A Superbikes (King's Lynn) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Going concern
The financial statements have been prepared on a going concern basis.
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.
Tangible assets
Tangible assets are stated in the statement of financial position 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:
C & A Superbikes (King's Lynn) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Asset class |
Depreciation method and rate |
Long Leasehold |
5% Straight line |
Plant and Machinery |
15% Reducing balance |
Fixtures and Fittings |
15% Reducing balance |
Motor Vehicles |
25% Reducing balance |
Investment property
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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
C & A Superbikes (King's Lynn) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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 statement of comprehensive income 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.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.
Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Loss before tax |
Arrived at after charging/(crediting)
2025 |
2024 |
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Depreciation expense |
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C & A Superbikes (King's Lynn) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
tangible assets |
Long leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
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Cost or valuation |
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At 1 February 2024 |
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Additions |
- |
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- |
- |
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At 31 January 2025 |
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Depreciation |
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At 1 February 2024 |
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Charge for the year |
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At 31 January 2025 |
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Carrying amount |
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At 31 January 2025 |
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At 31 January 2024 |
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Total |
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Cost or valuation |
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At 1 February 2024 |
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Additions |
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At 31 January 2025 |
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Depreciation |
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At 1 February 2024 |
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Charge for the year |
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At 31 January 2025 |
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Carrying amount |
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At 31 January 2025 |
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At 31 January 2024 |
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Obligations under hire purchase agreements
Included within the carrying value of tangible assets are the following amounts relating to assets held under hire purchase agreements:
Motor Vehicles £10,941 (2024: £14,587).
C & A Superbikes (King's Lynn) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Stocks |
2025 |
2024 |
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Finished goods and goods for resale |
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Debtors |
Current |
2025 |
2024 |
Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts due to related parties |
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Social security and other taxes |
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Other payables |
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Accruals |
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Tax liability |
- |
145 |
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Due after one year |
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Loans and borrowings |
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Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £119,489 (2024 - £127,935). Creditors due after more than one year include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £95,730, (2024 - £53,408).
C & A Superbikes (King's Lynn) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Share capital |
Allotted, called up and fully paid shares
2025 |
2024 |
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No. |
£ |
No. |
£ |
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500 |
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500 |
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500 |
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500 |
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250 |
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250 |
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Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.
Related party transactions |
Transactions with directors |
2025 |
At 1 February 2024 |
Advances to director |
Repayments by director |
At 31 January 2025 |
Mr AS Barrett |
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Advance |
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( |
- |
( |
Mr V Vedeikis |
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Advance |
- |
( |
- |
( |
Mr P Savory |
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Advance |
( |
- |
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( |
Mr C Whittred |
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Owed by company |
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( |
- |
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The advances paid will be repaid by the directors within 9 months of the year end.