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Registered number: 12051284
Velohawk UK Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Ten Forward Accounting Ltd
Chartered Certified Accountants
Suite 2A, 7th Floor
City Reach, 5 Greenwich View Place
London
E14 9NN
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 12051284
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 29,128 25,248
Cash at bank and in hand - 254
29,128 25,502
Creditors: Amounts Falling Due Within One Year 6 (727,311 ) (680,589 )
NET CURRENT ASSETS (LIABILITIES) (698,183 ) (655,087 )
TOTAL ASSETS LESS CURRENT LIABILITIES (698,183 ) (655,087 )
NET LIABILITIES (698,183 ) (655,087 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement (698,283 ) (655,187 )
SHAREHOLDERS' FUNDS (698,183) (655,087)
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr James Doughty
Director
25 June 2025
The notes on pages 2 to 4 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Velohawk UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12051284 . The registered office is Suite 2a, 7th Floor, City Reach, 5 Greenwich View Place, London, E14 9NN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the director that he will continue to give financial support to the company for the foreseeable future.

On this basis, the director considers it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Research and Development
Expenditure on research and development, whilst revenue in nature, is capitalised in the year it is incurred.

The company has decided to commence writing down the costs. It will be amortised to the profit and loss account over its estimated economic life of three years.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
3. Average Number of Employees
Average number of employees, excluding directors, during the year was: NIL (2023: NIL)
- -
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4. Intangible Assets
Development Costs
£
Cost
As at 1 July 2023 578,614
As at 30 June 2024 578,614
Amortisation
As at 1 July 2023 578,614
As at 30 June 2024 578,614
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
The company had capitalised research and devlopment costs totalling £578,614 incurred during the accouting periods to 30 June 2021. These costs are revenue in nature relating to labour, materials and parts used during this process.
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,248 25,248
VAT 3,880 -
29,128 25,248
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,391 8,790
Bank loans and overdrafts 11,047 -
VAT - 4,518
Other creditors 705,896 661,265
Accruals and deferred income 2,077 1,116
Amounts owed to group undertakings 5,900 4,900
727,311 680,589
In 2021, the company entered into a loan and intermediary banking facility agreement with Velohawk Limited. The loan banking facility agreement has been extended.
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
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8. Related Party Transactions
Velohawk LimitedThe company is fully owned by Velohawk Limited.During the year Velohawk Limited provided financial assistance of £1,000 (2023: £2,000). At year end the company owed Velohawk Limited £5,900 (2023: 4,900).

Velohawk Limited

The company is fully owned by Velohawk Limited.

During the year Velohawk Limited provided financial assistance of £1,000 (2023: £2,000). At year end the company owed Velohawk Limited £5,900 (2023: 4,900).

9. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Velohawk Limited . Velohawk Limited was incorporated in New Zealand. The ultimate controlling party is Mr James Doughty who controls 100% of the shares of Velohawk UK Limited .
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