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REGISTERED NUMBER: 03158868 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PADSTOW CYCLE HIRE LIMITED

PADSTOW CYCLE HIRE LIMITED (REGISTERED NUMBER: 03158868)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PADSTOW CYCLE HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: C J Murphy
Mrs E L Murphy





SECRETARY: Mrs E L Murphy





REGISTERED OFFICE: 5/7 Berry Road
Newquay
Cornwall
TR7 1AD





REGISTERED NUMBER: 03158868 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

PADSTOW CYCLE HIRE LIMITED (REGISTERED NUMBER: 03158868)

BALANCE SHEET
31 MARCH 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 30,881 44,409

CURRENT ASSETS
Stocks 1,607 1,530
Debtors 5 16,261 10,543
Cash at bank and in hand 114,528 177,264
132,396 189,337
CREDITORS
Amounts falling due within one year 6 63,326 118,697
NET CURRENT ASSETS 69,070 70,640
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,951

115,049

PROVISIONS FOR LIABILITIES 7,719 10,493
NET ASSETS 92,232 104,556

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 92,032 104,356
SHAREHOLDERS' FUNDS 92,232 104,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

PADSTOW CYCLE HIRE LIMITED (REGISTERED NUMBER: 03158868)

BALANCE SHEET - continued
31 MARCH 2025


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:




C J Murphy - Director



Mrs E L Murphy - Director


PADSTOW CYCLE HIRE LIMITED (REGISTERED NUMBER: 03158868)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Padstow Cycle Hire 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.

Turnover
Turnover represents net invoiced hire of equipment and sale of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Speedboat - Straight line over 20 years
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 10% 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 Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 8 ) .

PADSTOW CYCLE HIRE LIMITED (REGISTERED NUMBER: 03158868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
Speedboat machinery fittings
£    £    £   
COST
At 1 April 2024
and 31 March 2025 117,702 149,984 15,955
DEPRECIATION
At 1 April 2024 94,322 139,375 15,686
Charge for year 5,845 5,024 53
At 31 March 2025 100,167 144,399 15,739
NET BOOK VALUE
At 31 March 2025 17,535 5,585 216
At 31 March 2024 23,380 10,609 269

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2024
and 31 March 2025 44,407 20,371 348,419
DEPRECIATION
At 1 April 2024 36,504 18,123 304,010
Charge for year 1,975 631 13,528
At 31 March 2025 38,479 18,754 317,538
NET BOOK VALUE
At 31 March 2025 5,928 1,617 30,881
At 31 March 2024 7,903 2,248 44,409

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 313 10,543
VAT 1,594 -
Prepayments and accrued income 14,354 -
16,261 10,543

PADSTOW CYCLE HIRE LIMITED (REGISTERED NUMBER: 03158868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade creditors 27,544 8,659
Tax 23,158 8,141
Social security and other taxes - 3,224
Other creditors 180 144
Directors' current accounts 9,440 7,683
Accrued expenses 3,004 90,846
63,326 118,697

7. RELATED PARTY DISCLOSURES

The company is controlled by its directors, by virtue of the fact that they own 100% of the company's ordinary issued share capital.