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CANYON BICYCLES UK LIMITED

Registered Number
08236624
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

CANYON BICYCLES UK LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

BOHN, Karim
WALLACE, Nicholas De Ros

Registered Address

Unit 72 Barwell Business Park
Leatherhead Road
Chessington
KT9 2NY

Registered Number

08236624 (England and Wales)
CANYON BICYCLES UK LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Called up share capital not paid1010
Fixed assets
Tangible assets417,33428,039
17,33428,039
Current assets
Debtors5185,468183,844
Cash at bank and on hand426,398229,534
611,866413,378
Creditors amounts falling due within one year6(172,927)(84,236)
Net current assets (liabilities)438,949329,152
Total assets less current liabilities456,283357,191
Provisions for liabilities(4,124)(5,992)
Net assets452,159351,199
Capital and reserves
Called up share capital1010
Profit and loss account452,149351,189
Shareholders' funds452,159351,199
The financial statements were approved and authorised for issue by the Board of Directors on 10 January 2025, and are signed on its behalf by:
WALLACE, Nicholas De Ros
Director
Registered Company No. 08236624
CANYON BICYCLES UK LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Revenue from rendering of services
Revenue 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings6.67
Vehicles4
2.Average number of employees

20242023
Average number of employees during the year2630
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 24200,318
Additions2,538
At 31 December 24202,856
Depreciation and impairment
At 01 January 24172,278
Charge for year13,244
At 31 December 24185,522
Net book value
At 31 December 2417,334
At 31 December 2328,039
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables24,69313,455
Other debtors115,480125,191
Prepayments and accrued income45,29545,198
Total185,468183,844
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,469-
Taxation and social security164,07267,041
Other creditors5309,479
Accrued liabilities and deferred income2,8567,716
Total172,92784,236
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.