LARKFIELD CYCLES LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07323612

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		42,987		58,320

			42,987		58,320
CURRENT ASSETS
Stocks	5	358,708		383,708
Debtors	6	35,165		33,682
Cash at bank and in hand		148,064		117,212

		541,937		534,602
Creditors: Amounts Falling Due Within One Year	7	(119,937 )		(114,972 )

NET CURRENT ASSETS (LIABILITIES)			422,000		419,630

TOTAL ASSETS LESS CURRENT LIABILITIES			464,987		477,950

Creditors: Amounts Falling Due After More Than One Year	8		-		(7,298 )

NET ASSETS			464,987		470,652

CAPITAL AND RESERVES
Called up share capital	10		124		124
Profit and Loss Account			464,863		470,528

SHAREHOLDERS' FUNDS			464,987		470,652

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LARKFIELD CYCLES LIMITED

Balance Sheet (continued)

As At 31 July 2024

For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Tony Wilsher

Director

20 August 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

LARKFIELD CYCLES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07323612 . The registered office is 8-10 MARTIN SQUARE, LARKFIELD, AYLESFORD, ME20 6QJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	10% Straight Line
Plant & Machinery	15% Reducing Balance
Motor Vehicles	20% Straight Line
Fixtures & Fittings	15% Reducing Balance
Computer Equipment	15% Reducing Balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 4)

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LARKFIELD CYCLES LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2024

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 August 2023	77,523	43,705	57,647	40,968
Additions	-	-	-	-

As at 31 July 2024	77,523	43,705	57,647	40,968

Depreciation
As at 1 August 2023	77,523	34,641	22,658	31,828
Provided during the period	-	1,360	11,929	1,371

As at 31 July 2024	77,523	36,001	34,587	33,199

Net Book Value
As at 31 July 2024	-	7,704	23,060	7,769

As at 1 August 2023	-	9,064	34,989	9,140


	Computer Equipment	Total
	£	£
Cost
As at 1 August 2023	13,777	233,620
Additions	113	113

As at 31 July 2024	13,890	233,733

Depreciation
As at 1 August 2023	8,650	175,300
Provided during the period	786	15,446

As at 31 July 2024	9,436	190,746

Net Book Value
As at 31 July 2024	4,454	42,987

As at 1 August 2023	5,127	58,320

5. Stocks

	2024	2023
	£	£
Finished goods	358,708	383,708

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LARKFIELD CYCLES LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	10,165	25,883
Other debtors	25,000	7,799

	35,165	33,682

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	9,933	9,933
Trade creditors	29,339	14,006
Corporation tax	11,452	8,993
Other taxes and social security	1,776	895
VAT	14,717	19,165
Accruals and deferred income	1,514	1,488
Director's loan account	51,206	60,492

	119,937	114,972

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Other loans	-	7,298

9. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	9,933	9,933

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	124	124

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