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Registration number: 12359686

Motorcycles UK (Swindon) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Motorcycles UK (Swindon) Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Motorcycles UK (Swindon) Ltd

(Registration number: 12359686)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,000

2,000

Tangible assets

5

61,216

55,495

 

63,216

57,495

Current assets

 

Stocks

6

246,665

265,625

Debtors

7

28,670

28,058

Cash at bank and in hand

 

177,633

155,436

 

452,968

449,119

Creditors: Amounts falling due within one year

8

(313,721)

(296,895)

Net current assets

 

139,247

152,224

Total assets less current liabilities

 

202,463

209,719

Creditors: Amounts falling due after more than one year

8

(88,539)

(51,889)

Provisions for liabilities

(13,804)

(13,874)

Net assets

 

100,120

143,956

Capital and reserves

 

Called up share capital

111

111

Share premium reserve

99,970

99,970

Retained earnings

39

43,875

Shareholders' funds

 

100,120

143,956

 

Motorcycles UK (Swindon) Ltd

(Registration number: 12359686)
Balance Sheet as at 31 December 2024

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 July 2025 and signed on its behalf by:
 

.........................................
Mr C Waldron
Director

.........................................
Mr D Neal
Director

 

Motorcycles UK (Swindon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 Dorcan Business Village
Murdock Road, Dorcan
Swindon
Wiltshire
SN3 5HY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of second hand motorcycles. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Motorcycles UK (Swindon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class

Depreciation method and rate

Office equipment

3 years straight line

Motor vehicles

5 years straight line

Fixtures and fittings

3 years straight line

Plant and machinery

3 years straight line

Intangible assets

Intangible assets represents an investment in Crypto. As there is no active market, the assets are held at cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Motorcycles UK (Swindon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2024

2,000

2,000

At 31 December 2024

2,000

2,000

Amortisation

Carrying amount

At 31 December 2024

2,000

2,000

At 31 December 2023

2,000

2,000

 

Motorcycles UK (Swindon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Leasehold improvements
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 January 2024

-

-

-

8,695

Additions

6,000

1,190

13,435

1,932

At 31 December 2024

6,000

1,190

13,435

10,627

Depreciation

At 1 January 2024

-

-

-

6,115

Charge for the year

-

-

-

1,846

At 31 December 2024

-

-

-

7,961

Carrying amount

At 31 December 2024

6,000

1,190

13,435

2,666

At 31 December 2023

-

-

-

2,580

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

74,951

83,646

Additions

-

22,557

At 31 December 2024

74,951

106,203

Depreciation

At 1 January 2024

22,036

28,151

Charge for the year

14,990

16,836

At 31 December 2024

37,026

44,987

Carrying amount

At 31 December 2024

37,925

61,216

At 31 December 2023

52,915

55,495

 

Motorcycles UK (Swindon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

2024
£

2023
£

Stock

246,665

265,625

7

Debtors

2024
£

2023
£

Trade debtors

253

6,067

Other debtors

11,392

5,655

Prepayments

17,025

16,336

28,670

28,058

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

38,349

17,877

Trade creditors

 

39,812

27,492

Taxation and social security

 

26,689

53,786

Other creditors

 

208,871

197,740

 

313,721

296,895

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

88,539

51,889

 

Motorcycles UK (Swindon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

24,232

4,894

Hire purchase contracts

14,117

12,983

38,349

17,877

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

77,275

26,507

Hire purchase contracts

11,264

25,382

88,539

51,889

10

Related party transactions

Other transactions with directors

Mr C Waldron (director) had a loan with the company.

At the balance sheet date the amount due from/(to) Mr C Waldron was £2,346 (2023: (£275)).


Mr D Neal (director) had a loan with the company.

At the balance sheet date the amount due from/(to) Mr D Neal was £2,076 (2023: (£504)).