Accounts filed on 30-06-2019

EAST ST CYCLES.COM LIMITED - Company Information


Registered number: 05090395






East St.Cycles.com Limited


ACCOUNTS

FOR THE YEAR ENDED 30/06/2019
























Prepared By:
Greywalls Accountants Limited
13 Isis Lake
Spine Road
South Cerney
Cirencester
GL7 5LT


East St.Cycles.com Limited


ACCOUNTS
FOR THE YEAR ENDED 30/06/2019





DIRECTORS
Gary Bird


REGISTERED OFFICE
PO Box GU9 7TP
Seven Stars House, 88 East Street
Farnham
Surrrey
GU9 7TX


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 05090395



ACCOUNTANTS
Greywalls Accountants Limited
13 Isis Lake
Spine Road
South Cerney
Cirencester
GL7 5LT


ACCOUNTS
FOR THEYEARENDED30/06/2019



CONTENTS



		Page

Directors' Report		-

Accountants' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 30/06/2019

			2019		2018
	Notes		£		£

FIXED ASSETS
Tangible assets	2		73,405		83,447

CURRENT ASSETS
Stock		332,998		305,076
Debtors	4	98,641		119,804
Cash at bank and in hand		71,579		136,727
		503,218		561,607
CREDITORS: Amounts falling due within one year	5	195,785		226,843
NET CURRENT ASSETS			307,433		334,764
TOTAL ASSETS LESS CURRENT LIABILITIES			380,838		418,211


PROVISIONS FOR LIABILITIES AND CHARGES	7		-		5,990

NET ASSETS			380,838		412,221

CAPITAL AND RESERVES

Called up share capital	8		2		2
Profit and loss account			380,836		412,219
SHAREHOLDERS' FUNDS			380,838		412,221

For the year ending 30/06/2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 05/11/2019 and signed on their behalf by



.............................
Gary Bird
Director


NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/06/2019

1. ACCOUNTING POLICIES


1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .


1b. Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:

Short Leasehold Properties		straight lineover term of lease%
Fixtures And Fittings		reducing balance20%
Equipment		reducing balance25%
Motor Cars		reducing balance25%


1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.


1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.


1e. Functional Currency
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.


1f. Basis Of Accounting FRS 1021 a
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. The financial statements have been prepared under the historical cost convention.


1g. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Turnover from the sale of goods is recognised when all the following conditions are satisifed:
- the company has transferred the significant risks and rewards of ownership to the buyer; the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods; the amount of turnover can be measured reliably; it is probable that the company will receive the consideration due under the transaction; and the costs incurred or to be incurred in respect of the transaction can be measured reliably.


1h. Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that; the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


2. TANGIBLE FIXED ASSETS

	Short Leasehold	Fixtures
	Properties	and Fittings	Equipment	Motor Cars	Total
	£	£	£	£	£
Cost
At 01/07/2018	138,966	91,941	13,591	23,000	267,498
Additions	-	784	1,250	-	2,034
At 30/06/2019	138,966	92,725	14,841	23,000	269,532
Depreciation
At 01/07/2018	87,044	69,292	8,721	18,994	184,051
For the year	4,000	5,851	1,224	1,001	12,076
At 30/06/2019	91,044	75,143	9,945	19,995	196,127
Net Book Amounts
At 30/06/2019	47,922	17,582	4,896	3,005	73,405
At 30/06/2018	51,922	22,649	4,870	4,006	83,447


3. STOCK	2019	2018
	£	£
Stock comprises:

Stock	332,998	305,076
	332,998	305,076


4. DEBTORS	2019	2018
	£	£
Amounts falling due within one year
Trade debtors	15,614	29,797
Prepayments	37,554	44,534
Accrued income	45,473	45,473
	98,641	119,804


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2019	2018
	£	£
VAT	27,790	37,771
PAYE control	4,358	4,376
Directors current account	7,263	7,263
Credit card	292	872
Trade creditors	151,715	173,265
Other creditors	650	-
Accruals	3,717	3,296
	195,785	226,843


6. EMPLOYEES

	2019	2018
	No.	No.
Average number of employees	16	17


7. PROVISIONS FOR LIABILITIES	2019	2018
	£	£
Deferred taxation	-	5,990
	-	5,990


8. SHARE CAPITAL	2019	2018
	£	£
Allotted, issued and fully paid:
2 Ordinary shares of £1 each	2	2
	2	2


9. CONTROLLING PARTY
The company is controlled by its director, Gary Bird, by virtue of his interest in the company's issued share capital.


10. RELATED PARTY TRANSACTIONS
The company owed its sole director £7,263 (2018 - £7,263) as at the end of the year. The balance is repayable on demand and is interest free.


11. COMPANY INFORMATION
East St.Cycles.com Limited is a private company, limited by shares, domiciled in England and Wales, registration number 05090395. The registered office of the company is PO Box GU9 7TP, Seven Stars House, 88 East Street, Farnham, Surrey GU9 7TP.