REGISTERED NUMBER: 02676930 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE MOULTON BICYCLE COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A M A Williams

SECRETARY:

K C White

REGISTERED OFFICE:

Moulton Bicycle Company

Holt Road

Bradford On Avon

Wiltshire

BA15 1AH

REGISTERED NUMBER:

02676930 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,878

4,885

Investments

6

5

5

3,883

4,890

CURRENT ASSETS

Stocks

7

382,835

445,302

Debtors

8

187,465

139,356

Cash at bank and in hand

53,362

46,167

623,662

630,825

CREDITORS

Amounts falling due within one year

9

477,935

389,851

NET CURRENT ASSETS

145,727

240,974

TOTAL ASSETS LESS CURRENT LIABILITIES

149,610

245,864

CREDITORS

Amounts falling due after more than one year

10

150,081

192,627

NET (LIABILITIES)/ASSETS

(471

)

53,237

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(571

)

53,137

(471

)

53,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2025 and were signed by:

A M A Williams - Director

1.	STATUTORY INFORMATION

The Moulton Bicycle Company 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.

The principal activity of the Company is the design and manufacture of highly engineered bicycles for discerning customers.

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.

Turnover

Turnover comprises revenue recognised by the Company in respect of goods and services supplied, exclusive of Vat and trade discounts. Turnover is recognised at the point at which the goods are despatched to the customer, or service performed.

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

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

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Investments in subsidiaries

Investments in subsidiaries are measured at costs less accumulated impairment.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Financial instruments

The Company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and trade and other creditors, accruals and group loans. Such financial instruments are recognised at their nominal transaction value.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors and borrowings are measured at the transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pensions

The Company operates a defined contribution plan for its employees. The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Going concern

The Director has assessed the Company’s ability to continue as a going concern. As a result of this assessment, no material uncertainties have been identified that cast doubt about the ability of the Company to continue as a going concern. The Director believes that there are sufficient cash holdings to ensure adequate cash flow for the foreseeable future. A letter of support has also been provided from its immediate parent company. Accordingly, the Director anticipates that the Company has adequate resources to continue in operational existence for at least twelve months from the approval of the financial statements, and therefore continues to adopt the going concern basis of accounting in preparing these financial statements.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Heritage assets

The Company owns a collection of heritage bicycles and accessories that were manufactured under the Moulton Estate. Such Assets are written off in the year of acquisition.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Intellectual

Goodwill

property

Totals

£

£

£

Cost

At 1 January 2024

and 31 December 2024

50,000

18,000

68,000

Amortisation

At 1 January 2024

and 31 December 2024

50,000

18,000

68,000

Net book value

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Cost

At 1 January 2024

62,620

41,846

104,466

Additions

2,322

120

2,442

At 31 December 2024

64,942

41,966

106,908

Depreciation

At 1 January 2024

58,277

41,304

99,581

Charge for year

3,010

439

3,449

At 31 December 2024

61,287

41,743

103,030

Net book value

At 31 December 2024

3,655

223

3,878

At 31 December 2023

4,343

542

4,885

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 January 2024

and 31 December 2024

5

Net book value

At 31 December 2024

5

At 31 December 2023

5

7.

STOCKS

2024

2023

£

£

Stocks

382,835

445,302

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

143,289

89,496

Other debtors

2,453

2,490

VAT

23,112

28,321

Prepayments and accrued income

18,611

19,049

187,465

139,356

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

42,546

92,172

Trade creditors

131,138

52,049

Amounts owed to group undertakings

278,030

200,800

Corporation tax

-

3,352

Social security and other taxes

9,463

10,384

Accruals and deferred income

16,758

31,094

477,935

389,851

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

-

192,627

Bank loans - 2-5 years

150,081

-

150,081

192,627

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

30,555

29,177

Between one and five years

30,060

112,294

In more than five years

90,180

28,000

150,795

169,471

The company occupies premises owned by its parent company under an informal lease arrangement. Although no formal lease agreement is in place, the company pays rent of £5,000 per month for the use of the premises. The lease is considered cancellable with no fixed term. Accordingly, the company has not recognised any future minimum lease payments under non-cancellable operating leases. During the year, the company recognised a lease expense in the profit and loss account of £60,000 as lease payments to its parent. Management considers the lease to be cancellable at short notice and therefore no further disclosure of future lease commitments is required under FRS 102 Section 20.

12.	PENSION COMMITMENTS

Contributions payable to the Company’s pension scheme that have been charged to the Statement of income and retained earnings amount to £1,146 (2023: £1,146). There were no contributions outstanding for either the current or previous year end.

13.	FINANCIAL COMMITMENTS

The Company is party to unlimited multilateral guarantees as security for the bank borrowings of connected companies. At 31 December 2024 the potential liability under these guarantees amounted to £820,633 (2023: £1,071,444).

The bank has agreed to release the Company from the unlimited multilateral guarantees it holds as security against the borrowings of connected companies, and this work is expected to be completed in 2025.

14.	RELATED PARTY DISCLOSURES

The Company has taken advantage of the exemption conferred within FRS102, section 33A not to disclose related party transactions between wholly owned members of the same group.

The Company owed £32,661 (2023: £2,278) to a Company with the same beneficial owner.

15.	CONTROLLING PARTY

The controlling party and the ultimate controlling party are not known.

The Company's immediate and ultimate parent undertaking is Moulton Group Ltd. Moulton Group Ltd's register office is Holt Road, Bradford-On-Avon, Wiltshire, BA15 1AJ.