Spa Cycles Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06040617

SPA CYCLES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2025

SPA CYCLES LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

SPA CYCLES LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Intangible assets	7	12,250	22,500
Tangible assets	8	11,945	13,609
		---------	---------
		24,195	36,109

CURRENT ASSETS

Stocks		1,183,765	1,236,590
Debtors	9	33,646	32,582
Cash at bank and in hand		156,104	75,123
		-------------	-------------
		1,373,515	1,344,295

CREDITORS: amounts falling due within one year	10	342,608		330,249
		-------------		-------------
NET CURRENT ASSETS			1,030,907		1,014,046
			-------------		-------------
TOTAL ASSETS LESS CURRENT LIABILITIES			1,055,102		1,050,155

CREDITORS: amounts falling due after more than one year	11		20,295		54,917

PROVISIONS

Taxation including deferred tax	12	2,290	2,585
		-------------	-------------
NET ASSETS		1,032,517	992,653
		-------------	-------------

SPA CYCLES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	14	50	50
Profit and loss account		1,032,467	992,603
		-------------	----------
SHAREHOLDERS FUNDS		1,032,517	992,653
		-------------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 15 October 2026 , and are signed on behalf of the board by:

Mr J Pocklington
Director

Company registration number: 06040617

SPA CYCLES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 48a Carnwal Road, Harrogate, North Yorkshire, HG1 4PT.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	10% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 7 (2024: 7 ).

5. TAX ON PROFIT

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	13,730	4,150
Adjustments in respect of prior periods	–	21,941
	---------	---------
Total current tax	13,730	26,091
	---------	---------

Deferred tax:

Origination and reversal of timing differences	( 295)	50
	---------	---------
Tax on profit	13,435	26,141
	---------	---------

6. DIVIDENDS

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	500	500
	----	----

7. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 1 January 2025 and 31 December 2025	205,000
	----------
Amortisation
At 1 January 2025	182,500
Charge for the year	10,250
	----------
At 31 December 2025	192,750
	----------
Carrying amount
At 31 December 2025	12,250
	----------
At 31 December 2024	22,500
	----------

8. TANGIBLE ASSETS

	Fixtures and fittings	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2025 and 31 December 2025	30,544	10,495	41,039
	---------	---------	---------
Depreciation
At 1 January 2025	18,959	8,471	27,430
Charge for the year	1,158	506	1,664
	---------	---------	---------
At 31 December 2025	20,117	8,977	29,094
	---------	---------	---------
Carrying amount
At 31 December 2025	10,427	1,518	11,945
	---------	---------	---------
At 31 December 2024	11,585	2,024	13,609
	---------	---------	---------

9. DEBTORS

	2025	2024
	£	£
Trade debtors	20,309	20,952
Prepayments and accrued income	7,562	7,897
Other debtors	5,775	3,733
	---------	---------
	33,646	32,582
	---------	---------

10. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	32,765	37,530
Trade creditors	45,965	45,915
Accruals and deferred income	16,692	4,509
Corporation tax	13,730	4,150
Social security and other taxes	41,730	29,020
Director loan accounts	186,138	209,125
Other creditors	5,588	–
	----------	----------
	342,608	330,249
	----------	----------

11. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	20,295	54,917
	---------	---------

12. PROVISIONS

	Deferred tax (note 13)
	£
At 1 January 2025	2,585
Charge against provision	( 295)
	-------
At 31 December 2025	2,290
	-------

13. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 12)	2,290	2,585
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	2,290	2,585
	-------	-------

14. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	50	50	50	50
	----	----	----	----

15. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The directors loan account was in credit throughout the year. The loan is repayable on demand and no interest is charged.