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Company registration number: 12237092
City Ebikez Limited
Unaudited filleted financial statements
31 January 2025
City Ebikez Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
City Ebikez Limited
Directors and other information
Directors Ms D L Furzeland
Ms L D Furzeland
Mrs Y M Furzeland
Mr S W Furzeland
Mr K Stewart-Rattray
Secretary Mr S W Furzeland
Company number 12237092
Registered office Unit 3 Richmond Place
Central Avenue
Lee Mill Industrial Estate
Ivybridge
PL21 9RL
Accountants Wills Accountants Limited
2 Endeavour House
Parkway Court
Longbridge Road
Plymouth
PL6 8LR
City Ebikez Limited
Statement of financial position
31 January 2025
31/01/25 31/01/24
Note £ £ £ £
Fixed assets
Tangible assets 5 809 -
_______ _______
809 -
Current assets
Stocks 33,231 48,224
Debtors 6 2,094 3,223
Cash at bank and in hand 9,328 8,696
_______ _______
44,653 60,143
Creditors: amounts falling due
within one year 7 ( 61,321) ( 72,540)
_______ _______
Net current liabilities ( 16,668) ( 12,397)
_______ _______
Total assets less current liabilities ( 15,859) ( 12,397)
Provisions for liabilities ( 154) -
_______ _______
Net liabilities ( 16,013) ( 12,397)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 16,014) ( 12,398)
_______ _______
Shareholders deficit ( 16,013) ( 12,397)
_______ _______
For the year ending 31 January 2025 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 06 August 2025 , and are signed on behalf of the board by:
Mr S W Furzeland
Director
Company registration number: 12237092
City Ebikez Limited
Statement of changes in equity
Year ended 31 January 2025
Called up share capital Profit and loss account Total
£ £ £
At 1 November 2021 1 3,835 3,836
Loss for the year ( 16,233) ( 16,233)
_______ _______ _______
Total comprehensive income for the year - ( 16,233) ( 16,233)
_______ _______ _______
At 31 January 2024 and 1 February 2024 1 ( 12,398) ( 12,397)
Loss for the year ( 3,616) ( 3,616)
_______ _______ _______
Total comprehensive income for the year - ( 3,616) ( 3,616)
_______ _______ _______
At 31 January 2025 1 ( 16,014) ( 16,013)
_______ _______ _______
City Ebikez Limited
Notes to the financial statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3 Richmond Place, Central Avenue, Lee Mill Industrial Estate, Ivybridge, PL21 9RL.
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 for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2024: 5 ).
5. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 February 2024 - -
Additions 896 896
_______ _______
At 31 January 2025 896 896
_______ _______
Depreciation
At 1 February 2024 - -
Charge for the year 87 87
_______ _______
At 31 January 2025 87 87
_______ _______
Carrying amount
At 31 January 2025 809 809
_______ _______
At 31 January 2024 - -
_______ _______
6. Debtors
31/01/25 31/01/24
£ £
Trade debtors 828 66
Other debtors 1,266 3,157
_______ _______
2,094 3,223
_______ _______
7. Creditors: amounts falling due within one year
31/01/25 31/01/24
£ £
Trade creditors 91 34
Other creditors 61,230 72,506
_______ _______
61,321 72,540
_______ _______
8. Ultimate parent undertaking
The company is the wholly owned subsidiary of Furzeland Holdings Ltd, registered in England, company number 10152588. The address of the registered office is Unit 3 Richmond Avenue Central Place, Lee Mill Industrial Estate, Ivybridge, PL21 9RL.
9. Going concern
The company has negative current liabilities. The company is therefore reliant upon the continued financial support of its directors in order to continue operations. The directors have indicated their willingness to provide financial support to ensure that the company has sufficient resources to meet third parties debts as they fall due. Accordingly the accounts have been prepared on a going concern basis. If the support of the directors were withdrawn, then the going concern basis may not be acceptable. Adjustments may then have to be made to adjust the value of the assets to their recoverable amounts, to provide for any further liabilities that might arise, and to reclassify fixed assets and long term loans as current assets and current liabilities.