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Registration number: 07894878

Emsworth Cycles Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 January 2025

Emsworth Cycles Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 9

Emsworth Cycles Limited

Company Information

Directors | Ms J L Hutton Mr R L Sheppard

Registered office | 41-43 North Street Emsworth Hampshire PO10 7DA

Accountants | MMO Limited Wellesley House 204 London Road Waterlooville Hampshire PO7 7AN

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Emsworth Cycles Limited
for the Year Ended 31 January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Emsworth Cycles Limited for the year ended 31 January 2025 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Emsworth Cycles Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Emsworth Cycles Limited and state those matters that we have agreed to state to the Board of Directors of Emsworth Cycles Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emsworth Cycles Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Emsworth Cycles Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Emsworth Cycles Limited. You consider that Emsworth Cycles Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Emsworth Cycles Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

18 September 2025

Emsworth Cycles Limited

(Registration number: 07894878)
Balance Sheet as at 31 January 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 953 | 1,252
Current assets |  |  |
Stocks | 5 | 27,328 | 26,144
Debtors | 6 | 263 | 1,047
Cash at bank and in hand |  | 5,414 | 3,332
|  | 33,005 | 30,523
Creditors: Amounts falling due within one year | 7 | (17,853) | (14,421)
Net current assets |  | 15,152 | 16,102
Total assets less current liabilities |  | 16,105 | 17,354
Provisions for liabilities |  | (885) | (885)
Net assets |  | 15,220 | 16,469
Capital and reserves |  |  |
Called up share capital | 8 | 20 | 20
Retained earnings |  | 15,200 | 16,449
Shareholders' funds |  | 15,220 | 16,469

Emsworth Cycles Limited

(Registration number: 07894878)
Balance Sheet as at 31 January 2025

For the financial 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 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 18 September 2025 and signed on its behalf by:

......................................... Ms J L Hutton Director

Emsworth Cycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1 | General information

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

The address of its registered office is:
41-43 North Street
Emsworth
Hampshire
PO10 7DA
England

These financial statements were authorised for issue by the Board on 18 September 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Emsworth Cycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

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:

Asset class | Depreciation method and rate
Plant & machinery | 20% Reducing balance
Office equipment | 33.3% reducing balance
Motor vehicles | 25% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Emsworth Cycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.
The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.
Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Emsworth Cycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 February 2024 | 5,847 | 10,245 | 16,092
At 31 January 2025 | 5,847 | 10,245 | 16,092
Depreciation
At 1 February 2024 | 5,487 | 9,353 | 14,840
Charge for the year | 76 | 223 | 299
At 31 January 2025 | 5,563 | 9,576 | 15,139
Carrying amount
At 31 January 2025 | 284 | 669 | 953
At 31 January 2024 | 360 | 892 | 1,252

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 27,328 | 26,144

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 49 | 409
Prepayments | 214 | 215
Other debtors | - | 423
| 263 | 1,047

Emsworth Cycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 3,607 | 2,185
Taxation and social security | 1,585 | 1,464
Accruals and deferred income | 1,056 | 1,056
Other creditors | 11,605 | 9,716
| 17,853 | 14,421

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £10 each | 2 | 20 | 2 | 20