Company Registration No. 09105383 (England and Wales)
New City Motorcycles Ltd
Unaudited accounts
for the year ended 30 June 2025
New City Motorcycles Ltd
Statement of financial position
as at 30 June 2025
Tangible assets
34,503
34,090
Inventories
594,092
379,781
Cash at bank and in hand
783
-
Creditors: amounts falling due within one year
(482,114)
(212,247)
Net current assets
184,680
205,739
Total assets less current liabilities
219,183
239,829
Creditors: amounts falling due after more than one year
(55,085)
(119,746)
Provisions for liabilities
Net assets
155,817
120,083
Called up share capital
149
149
Share premium
56,405
56,405
Profit and loss account
99,263
63,529
Shareholders' funds
155,817
120,083
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by
C Powell
Director
Company Registration No. 09105383
New City Motorcycles Ltd
Notes to the Accounts
for the year ended 30 June 2025
New City Motorcycles Ltd is a private company, limited by shares, registered in England and Wales, registration number 09105383. The registered office is New City Motorcycles Ltd, 8 Totman Crescent, Rayleigh, Essex, SS6 7UY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
33% straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
New City Motorcycles Ltd
Notes to the Accounts
for the year ended 30 June 2025
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2024
13,775
36,392
2,597
52,764
Additions
-
26,195
2,876
29,071
Disposals
-
(36,392)
-
(36,392)
At 30 June 2025
13,775
26,195
5,473
45,443
At 1 July 2024
2,755
13,984
1,935
18,674
Charge for the year
2,204
2,758
1,288
6,250
On disposals
-
(13,984)
-
(13,984)
At 30 June 2025
4,959
2,758
3,223
10,940
At 30 June 2025
8,816
23,437
2,250
34,503
At 30 June 2024
11,020
22,408
662
34,090
Amounts falling due within one year
Trade debtors
57,968
23,331
Accrued income and prepayments
1,372
1,317
Other debtors
12,579
13,557
New City Motorcycles Ltd
Notes to the Accounts
for the year ended 30 June 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
344,733
165,157
Trade creditors
30,193
3,197
Taxes and social security
40,157
4,146
Loans from directors
17,811
13,925
The Company has a loan under the Coronavirus Bounce Back Loan Scheme. A guarantee has been provided by the Secretary of State for Business, Energy and Industrial Strategy.
The Company also has stocking finance secured on individual motorcycles on hand.
The Company has further loans and financing which are secured by way of personal guarantees by the directors.
The bank overdraft is secured by way of personal guarantee by the directors.
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Creditors: amounts falling due after more than one year
2025
2024
The Company has a loan under the Coronavirus Bounce Back Loan Scheme. A guarantee has been provided by the Secretary of State for Business, Energy and Industrial Strategy.
The Company has further loans and financing which are secured by way of personal guarantees by the directors.
8
Operating lease commitments
2025
2024
At 30 June 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
48,000
48,000
Later than one year and not later than five years
192,000
192,000
Later than five years
32,000
80,000
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Average number of employees
During the year the average number of employees was 10 (2024: 6).