REGISTERED NUMBER: 07798587 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MANDARIN CYCLES LIMITED

Page

Company Information

1

Income Statement

2

Statement of Financial Position

3

Statement of Changes in Equity

5

Notes to the Financial Statements

6

DIRECTOR:

D P Massingham

REGISTERED OFFICE:

1 Penn Grove

Aylsham Road

Norwich

Norfolk

NR3 3JZ

REGISTERED NUMBER:

07798587 (England and Wales)

ACCOUNTANTS:

NMP Accounting

Chartered Certified Accountant

Mill House

1 Mill Lane

Horsford

Norfolk

NR10 3ES

TURNOVER

366,155

347,498

Cost of sales

180,105

175,679

GROSS PROFIT

186,050

171,819

Administrative expenses

200,723

178,094

OPERATING LOSS

4

(14,673

)

(6,275

)

Interest payable and similar expenses

72

26

LOSS BEFORE TAXATION

(14,745

)

(6,301

)

Tax on loss

-

-

LOSS FOR THE FINANCIAL YEAR

(14,745

)

(6,301

)

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

5,297

7,217

5,297

7,217

CURRENT ASSETS

Stocks

118,000

112,000

Debtors

7

4,820

2,747

Cash at bank and in hand

12,927

17,048

135,747

131,795

CREDITORS

Amounts falling due within one year

8

69,683

52,906

NET CURRENT ASSETS

66,064

78,889

TOTAL ASSETS LESS CURRENT LIABILITIES

71,361

86,106

PROVISIONS FOR LIABILITIES

1,535

1,535

NET ASSETS

69,826

84,571

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

69,726

84,471

SHAREHOLDERS' FUNDS

69,826

84,571

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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.

The financial statements were approved by the director and authorised for issue on 2 June 2026 and were signed by:

D P Massingham - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

100

93,772

93,872

Changes in equity

Dividends

-

(3,000

)

(3,000

)

Total comprehensive income

-

(6,301

)

(6,301

)

Balance at 31 December 2024

100

84,471

84,571

Changes in equity

Total comprehensive income

-

(14,745

)

(14,745

)

Balance at 31 December 2025

100

69,726

69,826

1.	STATUTORY INFORMATION

Mandarin Cycles 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

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.

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

-

25% on reducing balance and 25% on cost

Stocks

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

Taxation

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

31.12.25

31.12.24

£

£

Depreciation - owned assets

1,920

2,443

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

50,000

AMORTISATION

At 1 January 2025

and 31 December 2025

50,000

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

59,132

DEPRECIATION

At 1 January 2025

51,915

Charge for year

1,920

At 31 December 2025

53,835

NET BOOK VALUE

At 31 December 2025

5,297

At 31 December 2024

7,217

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Other debtors

4,820

2,747

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

44,946

43,640

Taxation and social security

6,739

4,981

Other creditors

17,998

4,285

69,683

52,906

9.	ULTIMATE CONTROLLING PARTY

The controlling party is D P Massingham.