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REGISTERED NUMBER: 13781689 (England and Wales)












Summertown Cycles Ltd

Unaudited Financial Statements

for the Period 1 July 2024 to 31 December 2024






Summertown Cycles Ltd (Registered number: 13781689)






Contents of the Financial Statements
for the Period 1 July 2024 to 31 December 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Summertown Cycles Ltd

Company Information
for the Period 1 July 2024 to 31 December 2024







DIRECTORS: D J Aston
S Garrett





REGISTERED OFFICE: 200-202 Banbury Road
Oxford
Oxfordshire
OX2 7BY





REGISTERED NUMBER: 13781689 (England and Wales)





ACCOUNTANTS: Clarkson Cleaver & Bowes Ltd
8a Wingbury Courtyard
Business Village
Wingrave
Buckinghamshire
HP22 4LW

Summertown Cycles Ltd (Registered number: 13781689)

Balance Sheet
31 December 2024

2024 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,281 23,175
Tangible assets 5 47,747 52,941
67,028 76,116

CURRENT ASSETS
Stocks 115,325 137,558
Debtors 6 10,518 5,122
Cash at bank 127,989 159,818
253,832 302,498
CREDITORS
Amounts falling due within one
year

7

54,186

78,466
NET CURRENT ASSETS 199,646 224,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,674

300,148

CREDITORS
Amounts falling due after more
than one year

8

461,300

461,261
NET LIABILITIES (194,626 ) (161,113 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (194,726 ) (161,213 )
(194,626 ) (161,113 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Summertown Cycles Ltd (Registered number: 13781689)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2025 and were signed on its behalf by:




D J Aston - Director



S Garrett - Director


Summertown Cycles Ltd (Registered number: 13781689)

Notes to the Financial Statements
for the Period 1 July 2024 to 31 December 2024

1. STATUTORY INFORMATION

Summertown Cycles Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% straight line
Plant and machinery - 25% reducing balance
Computer equipment - 33.33% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted and that are expected to apply to the reversal of the timing difference.

Current or deferred taxation liabilities are not discounted.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Summertown Cycles Ltd (Registered number: 13781689)

Notes to the Financial Statements - continued
for the Period 1 July 2024 to 31 December 2024

2. ACCOUNTING POLICIES - continued

Going concern
The directors are happy that it is appropriate to prepare the accounts on a going concern basis. The business is funded by loans from the directors and they have no intention of withdrawing their support. At the time these accounts are being signed the directors are confident the business is in a position to start making profits going forward.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2024 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2024
and 31 December 2024 38,625
AMORTISATION
At 1 July 2024 15,450
Charge for period 3,894
At 31 December 2024 19,344
NET BOOK VALUE
At 31 December 2024 19,281
At 30 June 2024 23,175

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 July 2024 28,684 52,557 705 81,946
Additions - - 115 115
At 31 December 2024 28,684 52,557 820 82,061
DEPRECIATION
At 1 July 2024 5,737 22,994 274 29,005
Charge for period 1,446 3,725 138 5,309
At 31 December 2024 7,183 26,719 412 34,314
NET BOOK VALUE
At 31 December 2024 21,501 25,838 408 47,747
At 30 June 2024 22,947 29,563 431 52,941

Summertown Cycles Ltd (Registered number: 13781689)

Notes to the Financial Statements - continued
for the Period 1 July 2024 to 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade debtors 2,608 32
Other debtors 7,910 5,090
10,518 5,122

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade creditors 33,349 56,478
Taxation and social security 16,505 19,474
Other creditors 4,332 2,514
54,186 78,466

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2024
£    £   
Other creditors 461,300 461,261

Included in creditors due outside of one year are loans from the directors of £361,300 and an additional loan of £100,000 from a company in which one of the directors has a controlling interest. The directors do not intend to draw down on these loans unless they can do so without detriment to the finances of the company. Interest is currently not being charged on the loans.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2024
£    £   
Within one year 45,000 45,000
Between one and five years 180,000 180,000
In more than five years 127,500 142,500
352,500 367,500