Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-301The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-07-011No description of principal activitytruetruefalse 10254057 2023-07-01 2024-06-30 10254057 2022-07-01 2023-06-30 10254057 2024-06-30 10254057 2023-06-30 10254057 c:Director1 2023-07-01 2024-06-30 10254057 d:CurrentFinancialInstruments 2024-06-30 10254057 d:CurrentFinancialInstruments 2023-06-30 10254057 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10254057 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10254057 d:ShareCapital 2024-06-30 10254057 d:ShareCapital 2023-06-30 10254057 d:RetainedEarningsAccumulatedLosses 2024-06-30 10254057 d:RetainedEarningsAccumulatedLosses 2023-06-30 10254057 c:FRS102 2023-07-01 2024-06-30 10254057 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10254057 c:FullAccounts 2023-07-01 2024-06-30 10254057 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10254057 2 2023-07-01 2024-06-30 10254057 6 2023-07-01 2024-06-30 10254057 e:USDollar 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10254057









BODHI CYCLE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
BODHI CYCLE LIMITED
REGISTERED NUMBER: 10254057

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
$
$

Fixed assets
  

Investments
 4 
695,628
695,627

  
695,628
695,627

Current assets
  

Debtors: amounts falling due within one year
 5 
1,744,233
1,763,414

Cash at bank and in hand
 6 
320,409
363,483

  
2,064,642
2,126,897

Creditors: amounts falling due within one year
 7 
(6,725,426)
(6,647,909)

Net current liabilities
  
 
 
(4,660,784)
 
 
(4,521,012)

Total assets less current liabilities
  
(3,965,156)
(3,825,385)

  

Net liabilities
  
(3,965,156)
(3,825,385)


Capital and reserves
  

Called up share capital 
  
133,078
133,078

Profit and loss account
  
(4,098,234)
(3,958,463)

  
(3,965,156)
(3,825,385)


Page 1

 
BODHI CYCLE LIMITED
REGISTERED NUMBER: 10254057
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Rogachev
Director

Date: 19 June 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
BODHI CYCLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Bodhi Cycle Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales (registration no. 10254057). The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Dollars, which is the functional currency of the company. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

These financial statements have been prepared on a going concern basis. The company is dependant on the continued support from the shareholders. The directors are of the opinion that this support will continue for the next 12 months from the date of approval of the financial statements.
In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the company is in a net deficit position the director has obtained assurances from its beneficial owners to continue to provide adequate funds to meets its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
 
Page 3

 
BODHI CYCLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.3
Foreign currency translation (continued)


Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
BODHI CYCLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

$



Cost or valuation


At 1 July 2023
3,621,419



At 30 June 2024

3,621,419



Impairment


At 1 July 2023
2,925,791



At 30 June 2024

2,925,791



Net book value



At 30 June 2024
695,628



At 30 June 2023
695,627

Page 5

 
BODHI CYCLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
$
$


Amounts owed by group undertakings
1,515,647
1,537,032

Other debtors
228,586
226,382

1,744,233
1,763,414



6.


Cash and cash equivalents

2024
2023
$
$

Cash at bank and in hand
320,409
363,483

320,409
363,483



7.


Creditors: Amounts falling due within one year

2024
2023
$
$

Amounts owed to group undertakings
6,722,926
6,645,409

Accruals and deferred income
2,500
2,500

6,725,426
6,647,909


 
Page 6