IRIS Accounts Production v26.2.0.496 SC380615 Board of Directors Board of Directors 1.2.25 31.1.26 31.1.26 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC380615 2025-01-31 SC380615 2026-01-31 SC380615 2025-02-01 2026-01-31 SC380615 2024-01-31 SC380615 2024-02-01 2025-01-31 SC380615 2025-01-31 SC380615 ns15:Scotland 2025-02-01 2026-01-31 SC380615 ns14:PoundSterling 2025-02-01 2026-01-31 SC380615 ns10:Director1 2025-02-01 2026-01-31 SC380615 ns10:Director2 2025-02-01 2026-01-31 SC380615 ns10:PrivateLimitedCompanyLtd 2025-02-01 2026-01-31 SC380615 ns10:SmallEntities 2025-02-01 2026-01-31 SC380615 ns10:AuditExempt-NoAccountantsReport 2025-02-01 2026-01-31 SC380615 ns10:SmallCompaniesRegimeForDirectorsReport 2025-02-01 2026-01-31 SC380615 ns10:SmallCompaniesRegimeForAccounts 2025-02-01 2026-01-31 SC380615 ns10:FullAccounts 2025-02-01 2026-01-31 SC380615 ns10:Director3 2025-02-01 2026-01-31 SC380615 ns10:Director4 2025-02-01 2026-01-31 SC380615 ns10:CompanySecretary1 2025-02-01 2026-01-31 SC380615 ns10:RegisteredOffice 2025-02-01 2026-01-31 SC380615 ns5:CurrentFinancialInstruments 2026-01-31 SC380615 ns5:CurrentFinancialInstruments 2025-01-31 SC380615 ns5:Non-currentFinancialInstruments 2026-01-31 SC380615 ns5:Non-currentFinancialInstruments 2025-01-31 SC380615 ns5:ShareCapital 2026-01-31 SC380615 ns5:ShareCapital 2025-01-31 SC380615 ns5:RetainedEarningsAccumulatedLosses 2026-01-31 SC380615 ns5:RetainedEarningsAccumulatedLosses 2025-01-31 SC380615 ns5:LeaseholdImprovements 2025-02-01 2026-01-31 SC380615 ns5:FurnitureFittings 2025-02-01 2026-01-31 SC380615 ns5:MotorVehicles 2025-02-01 2026-01-31 SC380615 ns5:ComputerEquipment 2025-02-01 2026-01-31 SC380615 ns5:LeaseholdImprovements 2025-01-31 SC380615 ns5:FurnitureFittings 2025-01-31 SC380615 ns5:MotorVehicles 2025-01-31 SC380615 ns5:ComputerEquipment 2025-01-31 SC380615 ns5:LeaseholdImprovements 2026-01-31 SC380615 ns5:FurnitureFittings 2026-01-31 SC380615 ns5:MotorVehicles 2026-01-31 SC380615 ns5:ComputerEquipment 2026-01-31 SC380615 ns5:LeaseholdImprovements 2025-01-31 SC380615 ns5:FurnitureFittings 2025-01-31 SC380615 ns5:MotorVehicles 2025-01-31 SC380615 ns5:ComputerEquipment 2025-01-31 SC380615 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2026-01-31 SC380615 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-01-31 SC380615 ns5:MoreThanFiveYears ns5:Non-currentFinancialInstruments 2026-01-31 SC380615 ns5:MoreThanFiveYears ns5:Non-currentFinancialInstruments 2025-01-31 SC380615 ns5:Secured 2026-01-31 SC380615 ns5:Secured 2025-01-31

REGISTERED NUMBER: SC380615 (Scotland)

| Unaudited Financial Statements |

| for the Year Ended 31 January 2026 |

| for |

| Spokes Cycles Ltd. |

| Spokes Cycles Ltd. (Registered number: SC380615) |

Contents of the Financial Statements

for the Year Ended 31 January 2026

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Spokes Cycles Ltd. |

Company Information

for the Year Ended 31 January 2026

| DIRECTORS: | C Grieve

| Mrs C Corcoran

| J Grant

| L Grieve

| SECRETARY: | C Grieve

| REGISTERED OFFICE: | 28 Rodger Street

| Anstruther

| Fife

| KY10 3DU

| REGISTERED NUMBER: | SC380615 (Scotland)

| ACCOUNTANTS: | Henderson Black & Co

| Chartered Accountants

| 28 Rodger Street

| Anstruther

| Fife

| KY10 3DU

| Spokes Cycles Ltd. (Registered number: SC380615) |

Balance Sheet

31 January 2026

| 31.1.26 | 31.1.25 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 56,982 |  | 51,592 |  |

CURRENT ASSETS

Stocks | 510,900 |  | 464,861 |  |

Debtors | 5 | 13,931 |  | 14,260 |  |

Cash at bank and in hand | 39,279 |  | 12,643 |  |

564,110 |  | 491,764 |  |

CREDITORS

Amounts falling due within one year | 6 | 465,925 |  | 376,396 |  |

NET CURRENT ASSETS | 98,185 |  | 115,368 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 155,167 |  | 166,960 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (20,917 | ) | (28,409 | ) |

PROVISIONS FOR LIABILITIES | (10,188 | ) | (7,839 | ) |

NET ASSETS | 124,062 |  | 130,712 |  |

CAPITAL AND RESERVES

Called up share capital | 999 |  | 999 |  |

Retained earnings | 123,063 |  | 129,713 |  |

SHAREHOLDERS' FUNDS | 124,062 |  | 130,712 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

| Spokes Cycles Ltd. (Registered number: SC380615) |

Balance Sheet - continued

31 January 2026

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 Board of Directors and authorised for issue on 11 August 2026 and were signed on its behalf by:

C Grieve - Director

J Grant - Director

| Spokes Cycles Ltd. (Registered number: SC380615) |

Notes to the Financial Statements

for the Year Ended 31 January 2026

1. | STATUTORY INFORMATION

| Spokes Cycles Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Significant judgements and estimates

| In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily available from other sources. The estimates and associated assumptions are based on historical experience and other factors that are to be relevant. Actual results may differ from these estimates. In preparing these financial statements, the director has made the following judgements:

| Accruals

| The director estimates the requirements for accruals using post year end information. This identifies costs that are expected to be incurred for services provided by other parties. Accruals are only released when there is a reasonable expectation that these costs will not be invoiced in the future.

| 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.

| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Tangible fixed assets

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

| Improvements to property | - | 3 to 9 years straight line basis

| Fixtures and fittings | - | 20% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% 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.

| 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.

| Spokes Cycles Ltd. (Registered number: SC380615) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| 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.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Financial instruments

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

| Classification of financial liabilities

| Financial liabilities are classified according to the substance of the contractual arrangements entered into.

| Basic financial liabilities

| Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 10 (2025 - 9 ) .

| Spokes Cycles Ltd. (Registered number: SC380615) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

4. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

| to |  | and |  | Motor |  | Computer |

| property |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 February 2025 | 29,340 |  | 33,761 |  | 73,059 |  | 8,110 |  | 144,270 |  |

| Additions | - |  | 416 |  | 22,995 |  | - |  | 23,411 |  |

| Disposals | - |  | - |  | (16,105 | ) | - |  | (16,105 | ) |

| At 31 January 2026 | 29,340 |  | 34,177 |  | 79,949 |  | 8,110 |  | 151,576 |  |

| DEPRECIATION

| At 1 February 2025 | 11,231 |  | 26,002 |  | 48,353 |  | 7,092 |  | 92,678 |  |

| Charge for year | 3,621 |  | 1,632 |  | 11,755 |  | 333 |  | 17,341 |  |

| Eliminated on disposal | - |  | - |  | (15,425 | ) | - |  | (15,425 | ) |

| At 31 January 2026 | 14,852 |  | 27,634 |  | 44,683 |  | 7,425 |  | 94,594 |  |

| NET BOOK VALUE

| At 31 January 2026 | 14,488 |  | 6,543 |  | 35,266 |  | 685 |  | 56,982 |  |

| At 31 January 2025 | 18,109 |  | 7,759 |  | 24,706 |  | 1,018 |  | 51,592 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.1.26 |  | 31.1.25

£ | £ |

| Other debtors | 13,931 |  | 14,260 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.1.26 |  | 31.1.25

£ | £ |

| Bank loans and overdrafts | 40,544 |  | 49,982 |  |

| Other loans | 7,033 |  | 10,077 |  |

| Hire purchase contracts | 17,370 |  | 10,892 |  |

| Trade creditors | 249,972 |  | 163,941 |  |

| Corporation tax | 14,670 |  | - |  |

| Social security and other taxes | 1,914 |  | 1,274 |  |

| VAT | - |  | 12,772 |  |

| Other creditors | 66,520 |  | 58,701 |  |

| Directors' current accounts | 63,494 |  | 63,494 |  |

| Accruals | 4,408 |  | 5,263 |  |

465,925 |  | 376,396 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.1.26 |  | 31.1.25

£ | £ |

| Other loans - 1-2 years | - |  | 7,288 |  |

| Hire purchase contracts | 20,917 |  | 21,121 |  |

20,917 |  | 28,409 |  |

| Spokes Cycles Ltd. (Registered number: SC380615) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2026

8. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.1.26 |  | 31.1.25

£ | £ |

| Bank overdrafts | 40,544 |  | 49,982 |  |

| The bank overdraft from The Royal Bank of Scotland is secured by a floating charge over the company's undertaking and its present and future assets.