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Company registration number: 11205194
ATHERTON BIKES LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 December 2024
ATHERTON BIKES LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
ATHERTON BIKES LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr D S Atherton
Mr G D Atherton
Mr D P Brown
Dr B L Farmer
Mr J P D Linney
Company number 11205194
Registered office Cefn Ucha
Llanrheadr ym Mochnant
Oswestry
Powys
SY10 0DT
Business address Unit 18
Treowain Industrial Estate
Machynlleth
Powys
SY20 8EG
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 2AB
ATHERTON BIKES LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ATHERTON BIKES LIMITED
YEAR ENDED 31ST DECEMBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Atherton Bikes Limited for the year ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Atherton Bikes Limited, as a body, in accordance with the terms of our engagement letter dated 2 September 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Atherton Bikes Limited and state those matters that we have agreed to state to the board of directors of Atherton Bikes Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Atherton Bikes Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Atherton Bikes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Atherton Bikes Limited. You consider that Atherton Bikes Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Atherton Bikes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 2AB
22 April 2025
ATHERTON BIKES LIMITED
STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 5,492 -
Tangible assets 6 158,121 155,560
_______ _______
163,613 155,560
Current assets
Stocks 743,256 496,826
Debtors 7 262,346 257,510
Cash at bank and in hand 28,708 18,596
_______ _______
1,034,310 772,932
Creditors: amounts falling due
within one year 8 ( 978,968) ( 719,813)
_______ _______
Net current assets 55,342 53,119
_______ _______
Total assets less current liabilities 218,955 208,679
Creditors: amounts falling due
after more than one year 9 ( 184,840) ( 171,578)
Provisions for liabilities - ( 23,633)
_______ _______
Net assets 34,115 13,468
_______ _______
Capital and reserves
Called up share capital 1,594 1,387
Share premium account 2,644,758 1,818,964
Capital redemption reserve 61 61
Profit and loss account ( 2,612,298) ( 1,806,944)
_______ _______
Shareholders funds 34,115 13,468
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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 Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 April 2025 , and are signed on behalf of the board by:
Mr D S Atherton Mr D P Brown
Director Director
Company registration number: 11205194
ATHERTON BIKES LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31ST DECEMBER 2024
Called up share capital Share premium account Capital redemption reserve Profit and loss account Total
£ £ £ £ £
At 1 Jan '23 1,277 1,392,590 61 ( 1,493,849) ( 99,921)
Loss for the year ( 313,095) ( 313,095)
_______ _______ _______ _______ _______
Total comprehensive income for the year - - - ( 313,095) ( 313,095)
Issue of shares 110 439,810 439,920
Transaction costs ( 13,436) ( 13,436)
_______ _______ _______ _______ _______
Total investments by and distributions to owners 110 426,374 - - 426,484
At 31 Dec '23 (as previously reported) 1,387 1,818,964 61 ( 1,806,944) 13,468
Prior period adjustments (-) (-) (-) (145,575) (145,575)
_______ _______ _______ _______ _______
At 31 Dec '23 restated & 1 Jan '24 1,387 1,818,964 61 (1,952,519) (132,107)
Loss for the year ( 659,779) ( 659,779)
_______ _______ _______ _______ _______
Total comprehensive income for the year - - - ( 659,779) ( 659,779)
Issue of shares 207 825,794 826,001
_______ _______ _______ _______ _______
Total investments by and distributions to owners 207 825,794 - - 826,001
_______ _______ _______ _______ _______
At 31 Dec '24 1,594 2,644,758 61 ( 2,612,298) 34,115
_______ _______ _______ _______ _______
ATHERTON BIKES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cefn Ucha, Llanrheadr ym Mochnant, Oswestry, Powys, SY10 0DT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - Varying rates as appropriate
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the Company will comply with the conditions attaching to them and the grants will be received.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2023: 11 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 January 2024 - -
Additions 5,492 5,492
_______ _______
At 31 December 2024 5,492 5,492
_______ _______
Amortisation
At 1 January 2024 and 31 December 2024 - -
_______ _______
Carrying amount
At 31 December 2024 5,492 5,492
_______ _______
At 31 December 2023 - -
_______ _______
6. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 January 2024 52,040 67,592 87,360 206,992
Additions 67,312 15,911 2,422 85,645
Disposals ( 39,269) ( 27,435) ( 1,827) ( 68,531)
_______ _______ _______ _______
At 31 December 2024 80,083 56,068 87,955 224,106
_______ _______ _______ _______
Depreciation
At 1 January 2024 - 18,955 32,477 51,432
Charge for the year - 8,860 9,582 18,442
Disposals - ( 3,283) ( 606) ( 3,889)
_______ _______ _______ _______
At 31 December 2024 - 24,532 41,453 65,985
_______ _______ _______ _______
Carrying amount
At 31 December 2024 80,083 31,536 46,502 158,121
_______ _______ _______ _______
At 31 December 2023 52,040 48,637 54,883 155,560
_______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 199,676 215,421
Other debtors 62,670 42,089
_______ _______
262,346 257,510
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 163,785 10,092
Trade creditors 357,349 178,974
Social security and other taxes 41,524 54,024
Other creditors 416,310 476,723
_______ _______
978,968 719,813
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 5,267 15,578
Other creditors 179,573 156,000
_______ _______
184,840 171,578
_______ _______
10. Prior period errors
In the year the following prior year adjustments were identified totalling £145,575. Unissued credit notes: £39,231. Recalculation of royalties due: £217,663. Recalculation of WIP and closing accrual £111,319.