REGISTERED NUMBER: 05484507 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2025

for

Palace Cycles Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M J Lee

SECRETARY:

Ms L J Bates

REGISTERED OFFICE:

120-124 Botchergate

Carlisle

Cumbria

CA1 1SH

REGISTERED NUMBER:

05484507 (England and Wales)

ACCOUNTANTS:

Benson Accountants

Wiza House

Station Road

Wigton

Cumbria

CA7 9BA

FIXED ASSETS

Tangible assets

4

5,104

3,912

Investment property

5

218,512

218,512

223,616

222,424

CURRENT ASSETS

Stocks

6

121,454

110,413

Debtors

7

5,637

8,063

Cash at bank

372,802

330,554

499,893

449,030

CREDITORS

Amounts falling due within one year

8

113,802

102,866

NET CURRENT ASSETS

386,091

346,164

TOTAL ASSETS LESS CURRENT LIABILITIES

609,707

568,588

PROVISIONS FOR LIABILITIES

9,776

9,379

NET ASSETS

599,931

559,209

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

43,771

43,771

Retained earnings

556,060

515,338

599,931

559,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 21 April 2026 and were signed by:

Mr M J Lee - Director

1.	STATUTORY INFORMATION

Palace 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.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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 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.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 December 2024

1,123

13,738

12,366

27,227

Additions

360

-

1,731

2,091

At 30 November 2025

1,483

13,738

14,097

29,318

DEPRECIATION

At 1 December 2024

1,012

12,467

9,836

23,315

Charge for year

70

190

639

899

At 30 November 2025

1,082

12,657

10,475

24,214

NET BOOK VALUE

At 30 November 2025

401

1,081

3,622

5,104

At 30 November 2024

111

1,271

2,530

3,912

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

and 30 November 2025

218,512

NET BOOK VALUE

At 30 November 2025

218,512

At 30 November 2024

218,512

6.

STOCKS

30/11/25

30/11/24

£

£

Stocks

121,454

110,413

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/25

30/11/24

£

£

Trade debtors

3,843

430

Other debtors

1,794

7,633

5,637

8,063

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/25

30/11/24

£

£

Trade creditors

80,838

79,536

Taxation and social security

27,646

15,337

Other creditors

5,318

7,993

113,802

102,866

9.

RESERVES

Revaluation

reserve

£

At 1 December 2024

and 30 November 2025

43,771

10.	RELATED PARTY DISCLOSURES