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Company No: 09020631 (England and Wales)

# PEDAL ON LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH THE REGISTRAR

PEDAL ON LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

Contents

PEDAL ON LIMITED

## BALANCE SHEET

AS AT 31 MAY 2025
PEDAL ON LIMITED

## BALANCE SHEET (continued)

AS AT 31 MAY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 3,014 |  | 3,862
|  | 3,014 |  | 3,862
Current assets |  |  |  |
Stocks | 5 | 1,167,471 |  | 1,544,358
Debtors | 6 | 50,154 |  | 35,794
Cash at bank and in hand |  | 267,475 |  | 209,101
|  | 1,485,100 |  | 1,789,253
Creditors: amounts falling due within one year | 7 | ( 640,864) |  | ( 756,166)
Net current assets |  | 844,236 |  | 1,033,087
Total assets less current liabilities |  | 847,250 |  | 1,036,949
Creditors: amounts falling due after more than one year | 8 | ( 15,034) |  | ( 24,401)
Provision for liabilities |  | ( 576) |  | ( 748)
Net assets |  | 831,640 |  | 1,011,800
Capital and reserves |  |  |  |
Called-up share capital | 9 | 100 |  | 100
Profit and loss account |  | 831,540 |  | 1,011,700
Total shareholder's funds |  | 831,640 |  | 1,011,800

For the financial year ending 31 May 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Pedal On Limited (registered number: 09020631) were approved and authorised for issue by the Director on 01 October 2025. They were signed on its behalf by:

Andrew Peter Cracknell Director |

PEDAL ON LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
PEDAL ON LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Pedal On Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 6 Mars House, Calleva Park, Aldermaston, RG7 8LA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Taxation

Current tax
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.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 6 years straight line
Plant and machinery etc. | 4 - 6 years straight line
| 25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 14 |  | 15

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 June 2024 | 698,421 |  | 698,421
At 31 May 2025 | 698,421 |  | 698,421
Accumulated amortisation |  |  |
At 01 June 2024 | 698,421 |  | 698,421
At 31 May 2025 | 698,421 |  | 698,421
Net book value |  |  |
At 31 May 2025 | 0 |  | 0
At 31 May 2024 | 0 |  | 0

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 June 2024 | 15,372 |  | 33,291 |  | 48,663
Additions | 0 |  | 589 |  | 589
At 31 May 2025 | 15,372 |  | 33,880 |  | 49,252
Accumulated depreciation |  |  |  |  |
At 01 June 2024 | 15,372 |  | 29,429 |  | 44,801
Charge for the financial year | 0 |  | 1,437 |  | 1,437
At 31 May 2025 | 15,372 |  | 30,866 |  | 46,238
Net book value |  |  |  |  |
At 31 May 2025 | 0 |  | 3,014 |  | 3,014
At 31 May 2024 | 0 |  | 3,862 |  | 3,862

#### 5. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 1,167,471 |  | 1,544,358

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 47,925 |  | 20,458
Prepayments | 2,229 |  | 1,738
VAT recoverable | 0 |  | 13,598
| 50,154 |  | 35,794

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 8,120 |  | 8,443
Trade creditors | 549,891 |  | 708,636
Accruals | 4,550 |  | 7,698
Taxation and social security | 77,037 |  | 31,289
Other creditors | 1,266 |  | 100
| 640,864 |  | 756,166

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 15,034 |  | 24,401

There are no amounts included above in respect of which any security has been given by the small entity.

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
7,500 Ordinary A shares of £ 0.01 each | 75.00 |  | 75.00
1,000 Ordinary B shares of £ 0.01 each | 10.00 |  | 10.00
750 Ordinary C shares of £ 0.01 each | 7.50 |  | 7.50
750 Ordinary D shares of £ 0.01 each | 7.50 |  | 7.50
| 100.00 |  | 100.00