Company Registration No. 04508579 (England and Wales)
ON YER BIKE CYCLES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024
30 September 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ON YER BIKE CYCLES LIMITED
COMPANY INFORMATION
Directors
Mr J Aspden
Mr M J Grimshaw
Company number
04508579
Registered office
491 - 501 Whalley New Road
Roe Lee
Blackburn
Lancashire
UK
BB1 9AX
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ON YER BIKE CYCLES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ON YER BIKE CYCLES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
118,405
103,774
Current assets
Stocks
452,712
530,581
Debtors
5
64,770
31,350
Cash at bank and in hand
186,436
241,074
703,918
803,005
Creditors: amounts falling due within one year
6
(385,328)
(387,617)
Net current assets
318,590
415,388
Total assets less current liabilities
436,995
519,162
Provisions for liabilities
(13,317)
(18,463)
Net assets
423,678
500,699
Capital and reserves
Called up share capital
10
10
Capital redemption reserve
1
1
Profit and loss reserves
423,667
500,688
Total equity
423,678
500,699

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

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 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.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ON YER BIKE CYCLES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 January 2025 and are signed on its behalf by:
Mr J Aspden
Director
Company registration number 04508579 (England and Wales)
ON YER BIKE CYCLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

On Yer Bike Cycles Limited is a private company limited by shares incorporated in England and Wales. The registered office is 491 - 501 Whalley New Road, Roe Lee, Blackburn, Lancashire, UK, BB1 9AX.

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
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

1.3
Intangible fixed assets - goodwill

Goodwill being the amount paid in connection with the acquisition of the business in 2003, has been amortised in full.

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:

Property improvements
2% on cost
Plant and equipment
25% on reducing balance and cost
Computers
33% on cost
Motor vehicles
25% on cost and 25% on 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 valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ON YER BIKE CYCLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

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

2
Employees

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

2024
2023
Number
Number
Total
15
16
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
25,000
Amortisation and impairment
At 1 October 2023 and 30 September 2024
25,000
Carrying amount
At 30 September 2024
-
0
At 30 September 2023
-
0
ON YER BIKE CYCLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
4
Tangible fixed assets
Property improvements
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
77,579
62,232
36,167
74,148
250,126
Additions
-
0
3,370
3,686
23,897
30,953
Disposals
-
0
(274)
-
0
-
0
(274)
At 30 September 2024
77,579
65,328
39,853
98,045
280,805
Depreciation and impairment
At 1 October 2023
10,510
54,747
35,460
45,635
146,352
Depreciation charged in the year
1,552
2,070
1,143
11,306
16,071
Eliminated in respect of disposals
-
0
(23)
-
0
-
0
(23)
At 30 September 2024
12,062
56,794
36,603
56,941
162,400
Carrying amount
At 30 September 2024
65,517
8,534
3,250
41,104
118,405
At 30 September 2023
67,069
7,485
707
28,513
103,774
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
40,687
15,291
Other debtors
24,083
16,059
64,770
31,350
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
208,449
197,189
Amounts owed to group undertakings
99,653
95,197
Taxation and social security
33,831
57,244
Other creditors
43,395
37,987
385,328
387,617
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