Company No: 09020631 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	1,539		3,014
		1,539		3,014
Current assets
Stocks	5	1,252,065		1,167,471
Debtors	6	59,095		50,154
Cash at bank and in hand		235,883		267,475
		1,547,043		1,485,100
Creditors: amounts falling due within one year	7	( 792,498)		( 640,864)
Net current assets		754,545		844,236
Total assets less current liabilities		756,084		847,250
Creditors: amounts falling due after more than one year	8	( 5,143)		( 15,034)
Provision for liabilities		( 238)		( 576)
Net assets		750,703		831,640
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		750,603		831,540
Total shareholder's funds		750,703		831,640

For the financial year ending 31 May 2026 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 02 October 2026. They were signed on its behalf by:

Andrew Peter Cracknell Director

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

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	14		14

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 June 2025	698,421		698,421
At 31 May 2026	698,421		698,421
Accumulated amortisation
At 01 June 2025	698,421		698,421
At 31 May 2026	698,421		698,421
Net book value
At 31 May 2026	0		0
At 31 May 2025	0		0

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 June 2025	15,372		33,880		49,252
At 31 May 2026	15,372		33,880		49,252
Accumulated depreciation
At 01 June 2025	15,372		30,866		46,238
Charge for the financial year	0		1,475		1,475
At 31 May 2026	15,372		32,341		47,713
Net book value
At 31 May 2026	0		1,539		1,539
At 31 May 2025	0		3,014		3,014

5. Stocks

	2026		2025
	£		£
Stocks	1,252,065		1,167,471

6. Debtors

	2026		2025
	£		£
Trade debtors	56,054		47,925
Prepayments	3,041		2,229
	59,095		50,154

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	8,120		8,120
Trade creditors	726,788		549,891
Accruals	8,360		4,550
Taxation and social security	47,952		77,037
Other creditors	1,278		1,266
	792,498		640,864

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

	2026		2025
	£		£
Bank loans	5,143		15,034

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

9. Called-up share capital

	2026		2025
	£		£
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