REGISTERED NUMBER: 08496557 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Maison Du Velo Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G T Hough

Mrs T J Hough

REGISTERED OFFICE:

4 Effingham Road

Reigate

Surrey

RH2 7JN

REGISTERED NUMBER:

08496557 (England and Wales)

ACCOUNTANTS:

Bullimores LLP

Chartered Accountants

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

FIXED ASSETS

Intangible assets

4

55,791

69,739

Tangible assets

5

10,424

17,227

66,215

86,966

CURRENT ASSETS

Stocks

199,671

250,445

Debtors

6

107,495

115,794

Cash at bank

532

1,488

307,698

367,727

CREDITORS

Amounts falling due within one year

7

150,446

106,883

NET CURRENT ASSETS

157,252

260,844

TOTAL ASSETS LESS CURRENT LIABILITIES

223,467

347,810

CREDITORS

Amounts falling due after more than one year

8

(1,465,221

)

(1,321,221

)

ACCRUALS AND DEFERRED INCOME

(550,705

)

(448,890

)

NET LIABILITIES

(1,792,459

)

(1,422,301

)

CAPITAL AND RESERVES

Called up share capital

20

20

Share premium

74,990

74,990

Retained earnings

(1,867,469

)

(1,497,311

)

(1,792,459

)

(1,422,301

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 19 September 2025 and were signed on its behalf by:

G T Hough - Director

Mrs T J Hough - Director

1.	STATUTORY INFORMATION

Maison Du Velo Limited 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.

The accounts have been prepared on a going concern basis. The company has negative reserves and is dependent on the continued support of personal loans from family members, E & J Hough.

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 2019, is being amortised evenly over its estimated useful life of seven years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual Property are being amortised evenly over their estimated useful life of one years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Over the term of the lease

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

10% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each reporting date, assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment the recoverable amount of any affected asset is estimated and an impairment loss is recognised immediately in the income statement.

Stocks

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

Stocks are valued on a first in first out basis and at the lower of their cost and net realisable value. A stocktake is conducted at the year end to identify any slow moving or damaged items and an appropriate provision is made.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

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 by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 July 2023

and 30 June 2024

139,478

3

139,481

AMORTISATION

At 1 July 2023

69,739

3

69,742

Charge for year

13,948

-

13,948

At 30 June 2024

83,687

3

83,690

NET BOOK VALUE

At 30 June 2024

55,791

-

55,791

At 30 June 2023

69,739

-

69,739

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Short

to

Plant and

and

leasehold

property

machinery

fittings

Totals

£

£

£

£

£

COST

At 1 July 2023

24,919

64,109

24,660

47,051

160,739

Disposals

(24,919

)

(64,109

)

-

-

(89,028

)

At 30 June 2024

-

-

24,660

47,051

71,711

DEPRECIATION

At 1 July 2023

21,079

64,109

15,341

42,983

143,512

Charge for year

3,840

-

2,330

633

6,803

Eliminated on disposal

(24,919

)

(64,109

)

-

-

(89,028

)

At 30 June 2024

-

-

17,671

43,616

61,287

NET BOOK VALUE

At 30 June 2024

-

-

6,989

3,435

10,424

At 30 June 2023

3,840

-

9,319

4,068

17,227

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.24

30.6.23

£

£

Trade debtors

1,796

-

Amounts owed by participating interests

96,165

88,503

Other debtors

3,000

11,000

Prepayments and accrued income

6,534

16,291

107,495

115,794

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.24

30.6.23

£

£

Trade creditors

80,201

84,625

Social security and other taxes

2,287

1,682

VAT

28,555

20,576

Other creditors

38,918

-

Directors' current accounts

485

-

150,446

106,883

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.24

30.6.23

£

£

Other loans > 5 years

1,465,221

1,321,221

30.6.24

30.6.23

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans > 5 years

1,465,221

1,321,221

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.24

30.6.23

£

£

Other loans

1,465,221

1,321,221

10.	OTHER FINANCIAL COMMITMENTS

The company had operating lease commitments that are payable within 1 year of £37,000 (2023: £47,488), commitments that are payable in 2 -5 years of £102,000 (2023: £32,980) and commitments that are payable in over 5 years £235,417 (2023: £nil)

11.	RELATED PARTY DISCLOSURES

E & J Hough, shareholders of the company, have loaned the company £1,465,221 (2023: £1,321,221). The loan bears interest at 8%. An additional £144,000 was loaned to the company during the year.

On the 3rd October 2017 Mrs J Hough registered a debenture with a fixed and floating charge over all the property and undertakings of the company to secure all present and future liabilities.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs J Hough.

13.	CONSIDERATION OF THE BASIS OF THE PREPARATION OF THE FINANCIAL STATEMENTS

The Directors have considered the basis of preparation in the Directors Report.