REGISTERED NUMBER: 06625240 (England and Wales)

Financial Statements

for the Period 1 July 2023 to 31 December 2024

for

Bobbin Bicycles Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr E C Walton

REGISTERED OFFICE:

Second Home

68 Hanbury Street

LONDON

E1 5JL

REGISTERED NUMBER:

06625240 (England and Wales)

AUDITORS:

Nicholsons Audit (Statutory Auditor)

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

FIXED ASSETS

Intangible assets

4

1,758

2,059

Tangible assets

5

6,267

6,925

8,025

8,984

CURRENT ASSETS

Stocks

2,135,483

3,699,340

Debtors

868,219

197,052

Cash at bank

296,125

474,400

3,299,827

4,370,792

CREDITORS

Amounts falling due within one year

1,120,396

2,264,762

NET CURRENT ASSETS

2,179,431

2,106,030

TOTAL ASSETS LESS CURRENT LIABILITIES

2,187,456

2,115,014

PROVISIONS FOR LIABILITIES

1,649

43,453

NET ASSETS

2,185,807

2,071,561

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

2,185,707

2,071,461

SHAREHOLDERS' FUNDS

2,185,807

2,071,561

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Mr E C Walton - Director

1.	STATUTORY INFORMATION

Bobbin Bicycles Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 is being amortised evenly over its estimated useful life of five 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 etc

-

15% on reducing balance

Stocks

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

Goods in transit are accounted for once liability has been passed over to the company.

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Accounting period change

The accounting period was changed from 30 June 2023 to 31 December 2024 to tie in with the group year end. Therefore the current period covers 18 months and so is not directly comparable to the year to 30 June 2023 results which was also prepared under FRS 102 (1A).

Provisions

Provisions are recognised when there is a present obligation, either legal or constructive, as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2023

21,562

Additions

527

At 31 December 2024

22,089

AMORTISATION

At 1 July 2023

19,503

Amortisation for period

828

At 31 December 2024

20,331

NET BOOK VALUE

At 31 December 2024

1,758

At 30 June 2023

2,059

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2023

16,947

Additions

899

At 31 December 2024

17,846

DEPRECIATION

At 1 July 2023

10,022

Charge for period

1,557

At 31 December 2024

11,579

NET BOOK VALUE

At 31 December 2024

6,267

At 30 June 2023

6,925

6.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

30/6/23

£

£

Bank overdrafts

218,285

806,308

Bank loans

27,888

235,962

246,173

1,042,270

The company's bank have a debenture against the assets of the company.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

30/6/23

value:

£

£

100

Ordinary

£1

100

100

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steve Robinson (Senior Statutory Auditor)

for and on behalf of Nicholsons Audit (Statutory Auditor)

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Group accounts can be obtained from:

Kybotech Group Limited

Dukeries Industrial Estate,

Claylands Avenue,

WORKSOP,

Nottinghamshire,

S81 7BQ