Registrar

Registration number: 04940778

G H Motorcycles Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

G H Motorcycles Limited

Company Information

Director

G N Hockey

Company secretary

J Hockey

Registered office

3 Warners Mill Silks Way Braintree Essex CM7 3GB

Bankers

HSBC Bank Plc 26 High Street Colchester Essex CO1 1DQ

Accountants

Lambert Chapman LLP Chartered Accountants3 Warners Mill Silks Way Braintree Essex CM7 3GB

G H Motorcycles Limited

(Registration number: 04940778)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	-	-
Tangible assets	5	52,149	71,118
		52,149	71,118
Current assets
Stocks	6	674,805	844,000
Debtors	7	68,869	94,859
Cash at bank and in hand		21,679	6,473
		765,353	945,332
Creditors: Amounts falling due within one year	8	(707,052)	(879,660)
Net current assets		58,301	65,672
Total assets less current liabilities		110,450	136,790
Creditors: Amounts falling due after more than one year	8	(50,088)	(78,731)
Provisions for liabilities		6,556	(11,859)
Net assets		66,918	46,200
Capital and reserves
Called up share capital	10	1,000	1,000
Retained earnings		65,918	45,200
Shareholders' funds		66,918	46,200

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

G H Motorcycles Limited

(Registration number: 04940778)
Balance Sheet as at 31 December 2024

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2025
 

G N Hockey
Director

G H Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, United Kingdom.

The principal place of business is: Unit 1, Challenge Way, Hythe Hill, Colchester, Essex, CO1 2LY.

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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of motorcycles and accessories in the ordinary course of the Company’s activities. Turnover is shown net of 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

Current Tax is recognised in the profit and loss account, 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.

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.

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

G H Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold improvements	10% straight line
Office equipment	25% straight line
Motor vehicles	25% reducing balance
Website development	33% straight line
Plant and machinery	25% straight line

Goodwill

Goodwill arising on the acquisition of an entity in 2004 represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

G H Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated in line with the respective asset class as set out in the accounting policy above. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 10).

G H Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	85,000	85,000
At 31 December 2024	85,000	85,000
Amortisation
At 1 January 2024	85,000	85,000
At 31 December 2024	85,000	85,000
Carrying amount
At 31 December 2024	-	-

5	Tangible assets

	Leasehold improvements £	Office equipment and website development  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	21,850	27,159	128,902	44,654	222,565
At 31 December 2024	21,850	27,159	128,902	44,654	222,565
Depreciation
At 1 January 2024	9,889	25,821	78,930	36,807	151,447
Charge for the year	2,135	759	12,493	3,582	18,969
At 31 December 2024	12,024	26,580	91,423	40,389	170,416
Carrying amount
At 31 December 2024	9,826	579	37,479	4,265	52,149
At 31 December 2023	11,961	1,338	49,972	7,847	71,118

Motor vehicles with a net book value of £29,507 (2023 - £39,342) have been pledged as security under hire purchase arrangements.

G H Motorcycles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Stocks

	2024 £	2023 £
Finished goods and goods for resale	674,805	844,000

7

Debtors

	2024 £	2023 £
Trade debtors	43,499	64,952
Other debtors	24,841	23,291
Prepayments	529	6,616
	68,869	94,859

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	93,351	124,833
Trade creditors		515,524	665,131
Directors loan		71,593	65,219
Other creditors		23,805	18,714
Taxation and social security		279	2,668
Accruals and deferred income		2,500	3,095
		707,052	879,660

Creditors include bank loans and overdraft which are secured of £69,508 (2022 - £21,345) and amounts owed under hire purchase agreements which are secured of £13,195 (2023 - £11,829).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	50,088	78,731