Company registration number 09034563 (England and Wales)
CYCLE WAGGLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CYCLE WAGGLE LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
CYCLE WAGGLE LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr Richard Armitage
Mr Stefan Ondo
Company number
09034563
Registered office
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD
Accountants
Xeinadin
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD
Business address
198-200 Chapel Street
Salford
Manchester
England
M3 6BY
CYCLE WAGGLE LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
78,863
79,082
Current assets
Stocks
5
218,791
279,432
Debtors
6
11,355
42,301
Cash at bank and in hand
86,283
38,822
316,429
360,555
Creditors: amounts falling due within one year
7
(297,937)
(321,936)
Net current assets
18,492
38,619
Total assets less current liabilities
97,355
117,701
Creditors: amounts falling due after more than one year
8
(29,296)
(57,400)
Provisions for liabilities
(24,246)
(28,474)
Net assets
43,813
31,827
Capital and reserves
Called up share capital
9
12,000
12,000
Share premium account
11,600
11,600
Profit and loss reserves
20,213
8,227
Total equity
43,813
31,827
CYCLE WAGGLE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 3 -

For the financial year ended 30 September 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 3 June 2025 and are signed on its behalf by:
Mr Richard Armitage
Director
Company registration number 09034563 (England and Wales)
CYCLE WAGGLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information

Cycle Waggle Limited is a private company limited by shares incorporated in England and Wales. The registered office is Riverside House, Kings Reach Business Park, Yew Street, Stockport, Cheshire, SK4 2HD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis.

1.3
Turnover

Turnover comprises the fair value of the consideration received or receivable for the 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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

CYCLE WAGGLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
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 the 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 the 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, loans from fellow group companies 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss,except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

CYCLE WAGGLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

 

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
8
3
Operating profit/(loss)
2024
2023
Operating profit/(loss) for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
16,686
26,337
CYCLE WAGGLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 October 2023
188,304
19,186
12,930
220,420
Additions
15,863
-
0
608
16,471
Disposals
(21,806)
-
0
-
0
(21,806)
At 30 September 2024
182,361
19,186
13,538
215,085
Depreciation and impairment
At 1 October 2023
113,860
15,500
11,978
141,338
Depreciation charged in the year
15,527
921
238
16,686
Eliminated in respect of disposals
(21,802)
-
0
-
0
(21,802)
At 30 September 2024
107,585
16,421
12,216
136,222
Carrying amount
At 30 September 2024
74,776
2,765
1,322
78,863
At 30 September 2023
74,444
3,686
952
79,082
5
Stocks
2024
2023
£
£
Stocks
218,791
279,432
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,118
21,693
Other debtors
9,237
20,608
11,355
42,301
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
19,522
29,357
Trade creditors
11,593
17,241
Taxation and social security
8,000
32,966
Other creditors
258,822
242,372
297,937
321,936
CYCLE WAGGLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,394
36,791
Other creditors
16,902
20,609
29,296
57,400
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
12,000
12,000
12,000
12,000
10
Directors' transactions

At the balance sheet date, amounts owed to Directors was £196,494 (2023: £201,969 ). The balance is due within 1 year and repayable on demand

11
Control

The company is controlled by the directors by virtue of their shareholdings.

2024-09-302023-10-01falsefalsefalse03 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr Richard ArmitageMr Stefan OndoMr Christopher Leakey090345632023-10-012024-09-3009034563bus:Director12023-10-012024-09-3009034563bus:Director22023-10-012024-09-3009034563bus:Director32023-10-012024-09-3009034563bus:RegisteredOffice2023-10-012024-09-30090345632024-09-30090345632023-09-3009034563core:PlantMachinery2024-09-3009034563core:FurnitureFittings2024-09-3009034563core:ComputerEquipment2024-09-3009034563core:PlantMachinery2023-09-3009034563core:FurnitureFittings2023-09-3009034563core:ComputerEquipment2023-09-3009034563core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3009034563core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3009034563core:Non-currentFinancialInstrumentscore:AfterOneYear2024-09-3009034563core:Non-currentFinancialInstrumentscore:AfterOneYear2023-09-3009034563core:CurrentFinancialInstruments2024-09-3009034563core:CurrentFinancialInstruments2023-09-3009034563core:Non-currentFinancialInstruments2024-09-3009034563core:Non-currentFinancialInstruments2023-09-3009034563core:ShareCapital2024-09-3009034563core:ShareCapital2023-09-3009034563core:SharePremium2024-09-3009034563core:SharePremium2023-09-3009034563core:RetainedEarningsAccumulatedLosses2024-09-3009034563core:RetainedEarningsAccumulatedLosses2023-09-3009034563core:ShareCapitalOrdinaryShareClass12024-09-3009034563core:ShareCapitalOrdinaryShareClass12023-09-3009034563core:PlantMachinery2023-10-012024-09-3009034563core:FurnitureFittings2023-10-012024-09-3009034563core:ComputerEquipment2023-10-012024-09-30090345632022-10-012023-09-3009034563core:PlantMachinery2023-09-3009034563core:FurnitureFittings2023-09-3009034563core:ComputerEquipment2023-09-30090345632023-09-3009034563core:WithinOneYear2024-09-3009034563core:WithinOneYear2023-09-3009034563bus:OrdinaryShareClass12023-10-012024-09-3009034563bus:OrdinaryShareClass12024-09-3009034563bus:OrdinaryShareClass12023-09-3009034563bus:PrivateLimitedCompanyLtd2023-10-012024-09-3009034563bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3009034563bus:FRS1022023-10-012024-09-3009034563bus:AuditExemptWithAccountantsReport2023-10-012024-09-3009034563bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP