Company Registration number: 06114473

Cyclewise Whinlatter Ltd

Contents

Pages

Balance sheet	1 to 2
Notes to the financial statements	3 to 9

Cyclewise Whinlatter Ltd

Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	937	6,602
Tangible assets	5	265,011	291,436
		265,948	298,038
Current assets
Stocks	6	275,770	242,393
Debtors	7	51,594	25,976
Cash at bank and in hand		18,488	57,809
		345,852	326,178
Creditors: Amounts falling due within one year	8	(249,295)	(239,615)
Net current assets		96,557	86,563
Total assets less current liabilities		362,505	384,601
Creditors: Amounts falling due after more than one year	8	(67,078)	(91,662)
Provisions for liabilities		(21,646)	(26,551)
Net assets		273,781	266,388
Capital and reserves
Called up share capital		1,000	1,000
Retained earnings		272,781	265,388
Shareholders' funds		273,781	266,388

Cyclewise Whinlatter Ltd

Balance Sheet as at 28 February 2025 (continued)

For the financial year ending 28 February 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 06114473

Approved and authorised by the Board on 3 September 2025 and signed on its behalf by:
 

......................................... Mr C Scott Director

......................................... Mr R J Martin Director

Cyclewise Whinlatter Ltd

Notes to the financial statements for the Year Ended 28 February 2025

1	GENERAL INFORMATION

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

The address of its registered office is:
Whinlatter Forest Park
Braithwaite
Keswick
CA12 5TW

These financial statements were authorised for issue by the Board on 3 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.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

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.

Cyclewise Whinlatter Ltd

Notes to the financial statements for the Year Ended 28 February 2025 (continued)

2	ACCOUNTING POLICIES (continued)

Tax

The tax expense for the period comprises current and deferred 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.
 

The current corporation 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 timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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
Land and buildings	2% Straight line
Fixtures and fittings	25% Reducing balance
Motor vehicles	25% Reducing balance
Office equipment	25% Reducing balance
Plant and machinery	25% Reducing balance

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
Website	20% Straight line

Cyclewise Whinlatter Ltd

Notes to the financial statements for the Year Ended 28 February 2025 (continued)

2	ACCOUNTING POLICIES (continued)

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 and 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 and hire purchase 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 the same manner as other tangible fixed assets. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease or hire purchase 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.

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.

Cyclewise Whinlatter Ltd

Notes to the financial statements for the Year Ended 28 February 2025 (continued)

2	ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3	STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 21 (2024 - 21).

Cyclewise Whinlatter Ltd

Notes to the financial statements for the Year Ended 28 February 2025 (continued)

4	INTANGIBLE ASSETS

	Other intangible assets  £	Total £
Cost or valuation
At 1 March 2024	28,325	28,325
At 28 February 2025	28,325	28,325
Amortisation
At 1 March 2024	21,723	21,723
Amortisation charge	5,665	5,665
At 28 February 2025	27,388	27,388
Carrying amount
At 28 February 2025	937	937
At 29 February 2024	6,602	6,602

5	TANGIBLE ASSETS

	Land and buildings £	Fixtures and fittings £	Motor vehicles  £	Office equipment £	Plant and machinery £	Total £
Cost or valuation
At 1 March 2024	172,497	39,959	66,425	35,387	181,517	495,785
Additions	-	331	-	2,599	3,272	6,202
At 28 February 2025	172,497	40,290	66,425	37,986	184,789	501,987
Depreciation
At 1 March 2024	31,050	35,193	50,662	21,742	65,702	204,349
Charge for the year	3,449	1,233	3,941	3,811	20,193	32,627
At 28 February 2025	34,499	36,426	54,603	25,553	85,895	236,976
Carrying amount
At 28 February 2025	137,998	3,864	11,822	12,433	98,894	265,011
At 29 February 2024	141,447	4,766	15,763	13,645	115,815	291,436

Cyclewise Whinlatter Ltd

Notes to the financial statements for the Year Ended 28 February 2025 (continued)

5	TANGIBLE ASSETS (continued)

Included within the net book value of land and buildings above is £123,681 (2024 - £126,773) in respect of freehold land and buildings.
 

6

STOCKS

	2025 £	2024 £
Stocks	275,770	242,393

7

DEBTORS

Current	2025 £	2024 £
Trade debtors	43,844	18,476
Prepayments	7,750	7,500
	51,594	25,976

8

CREDITORS

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	24,087	23,001
Trade creditors		96,706	78,188
Taxation and social security		35,605	35,125
Accruals and deferred income		6,700	8,203
Other creditors		86,197	95,098
		249,295	239,615

Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £21,026 (2024 - £20,013).

Cyclewise Whinlatter Ltd

Notes to the financial statements for the Year Ended 28 February 2025 (continued)

8	CREDITORS (continued)

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	67,078	91,662

	2025 £	2024 £
Due after more than five years
After more than five years by instalments	22,695	23,450

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