IRIS Accounts Production v25.1.0.734 07749104 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077491042023-08-31077491042024-08-31077491042023-09-012024-08-31077491042022-08-31077491042022-09-012023-08-31077491042023-08-3107749104ns15:EnglandWales2023-09-012024-08-3107749104ns14:PoundSterling2023-09-012024-08-3107749104ns10:Director12023-09-012024-08-3107749104ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3107749104ns10:SmallEntities2023-09-012024-08-3107749104ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3107749104ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3107749104ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3107749104ns10:FullAccounts2023-09-012024-08-3107749104ns10:OrdinaryShareClass12023-09-012024-08-3107749104ns10:Director22023-09-012024-08-3107749104ns10:RegisteredOffice2023-09-012024-08-3107749104ns5:CurrentFinancialInstruments2024-08-3107749104ns5:CurrentFinancialInstruments2023-08-3107749104ns5:ShareCapital2024-08-3107749104ns5:ShareCapital2023-08-3107749104ns5:RetainedEarningsAccumulatedLosses2024-08-3107749104ns5:RetainedEarningsAccumulatedLosses2023-08-3107749104ns5:LeaseholdImprovements2023-09-012024-08-3107749104ns5:PlantMachinery2023-09-012024-08-3107749104ns5:FurnitureFittings2023-09-012024-08-3107749104ns5:MotorVehicles2023-09-012024-08-3107749104ns5:ComputerEquipment2023-09-012024-08-3107749104ns5:LeaseholdImprovements2023-08-3107749104ns5:PlantMachinery2023-08-3107749104ns5:FurnitureFittings2023-08-3107749104ns5:LeaseholdImprovements2024-08-3107749104ns5:PlantMachinery2024-08-3107749104ns5:FurnitureFittings2024-08-3107749104ns5:LeaseholdImprovements2023-08-3107749104ns5:PlantMachinery2023-08-3107749104ns5:FurnitureFittings2023-08-3107749104ns5:MotorVehicles2023-08-3107749104ns5:ComputerEquipment2023-08-3107749104ns5:MotorVehicles2024-08-3107749104ns5:ComputerEquipment2024-08-3107749104ns5:MotorVehicles2023-08-3107749104ns5:ComputerEquipment2023-08-3107749104ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3107749104ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3107749104ns5:WithinOneYear2024-08-3107749104ns5:WithinOneYear2023-08-3107749104ns5:BetweenOneFiveYears2024-08-3107749104ns5:BetweenOneFiveYears2023-08-3107749104ns5:MoreThanFiveYears2024-08-3107749104ns5:MoreThanFiveYears2023-08-3107749104ns5:AllPeriods2024-08-3107749104ns5:AllPeriods2023-08-3107749104ns5:Secured2024-08-3107749104ns5:Secured2023-08-3107749104ns10:OrdinaryShareClass12024-08-31
REGISTERED NUMBER: 07749104 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

ELECTRIC BIKE STORE LTD

ELECTRIC BIKE STORE LTD (REGISTERED NUMBER: 07749104)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELECTRIC BIKE STORE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: J Metcalfe
L Metcalfe





REGISTERED OFFICE: Lee Manor
The Lee
Nr Great Missenden
HP16 9NA





REGISTERED NUMBER: 07749104 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

ELECTRIC BIKE STORE LTD (REGISTERED NUMBER: 07749104)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 47,191 24,947

CURRENT ASSETS
Stocks 1,126,267 1,538,467
Debtors 5 321,258 347,264
Cash at bank 353,831 169,957
1,801,356 2,055,688
CREDITORS
Amounts falling due within one year 6 411,281 623,027
NET CURRENT ASSETS 1,390,075 1,432,661
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,437,266

1,457,608

PROVISIONS FOR LIABILITIES 9,800 6,237
NET ASSETS 1,427,466 1,451,371

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,427,366 1,451,271
SHAREHOLDERS' FUNDS 1,427,466 1,451,371

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

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

ELECTRIC BIKE STORE LTD (REGISTERED NUMBER: 07749104)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:





J Metcalfe - Director


ELECTRIC BIKE STORE LTD (REGISTERED NUMBER: 07749104)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Electric Bike Store Ltd 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 derives from the principal activity of the company, which is that of the development and sale of electrical bikes. Income from that activity is recognised in the profit and loss account, net of VAT, upon despatch of goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - straight line basis over term of lease
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

ELECTRIC BIKE STORE LTD (REGISTERED NUMBER: 07749104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, other loans, and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred 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.

ELECTRIC BIKE STORE LTD (REGISTERED NUMBER: 07749104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The director has considered the company's ability to continue as a going concern for a period of in excess of 12 months from the date of this report. They have assessed the financial performance, financial position and cash flow requirements and are confident that the company can continue as a going concern. For this reason the financial statements have been prepared using the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2023 41,052 37,174 18,116
Additions 25,500 7,609 4,235
At 31 August 2024 66,552 44,783 22,351
DEPRECIATION
At 1 September 2023 39,006 27,033 17,512
Charge for year 5,223 5,439 1,357
At 31 August 2024 44,229 32,472 18,869
NET BOOK VALUE
At 31 August 2024 22,323 12,311 3,482
At 31 August 2023 2,046 10,141 604

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 25,915 14,588 136,845
Additions - - 37,344
At 31 August 2024 25,915 14,588 174,189
DEPRECIATION
At 1 September 2023 14,815 13,532 111,898
Charge for year 2,775 306 15,100
At 31 August 2024 17,590 13,838 126,998
NET BOOK VALUE
At 31 August 2024 8,325 750 47,191
At 31 August 2023 11,100 1,056 24,947

ELECTRIC BIKE STORE LTD (REGISTERED NUMBER: 07749104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 53,497 110,320
Other debtors 267,761 236,944
321,258 347,264

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,837 239,399
Trade creditors 74,444 129,957
Taxation and social security 141,701 76,563
Other creditors 193,299 177,108
411,281 623,027

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 58,367 56,367
Between one and five years 132,303 152,386
In more than five years 96,092 120,626
286,762 329,379

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 239,399

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

During the year a director maintained an interest bearing loan to the company. As at the year end the balance outstanding was £107,576 (2023: £137,556). Loan interest accrued during the year totalled £2,822 (2023: £3,717).

During the year a director maintained an interest free loan to the company. As at the year end the balance outstanding was £308 (2023: £218).

During the year a director charged the company £69,000 (2023: £78,500) in respect of services provided.