TWELVE50 BIKES LIMITED

TWELVE50 BIKES LIMITED

TWELVE50 BIKES LIMITED - Company Information

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Company Registration No. 6205167 (England and Wales)
TWELVE50 BIKES LIMITED Unaudited accounts for the year ended 31 March 2020
TWELVE50 BIKES LIMITED Unaudited accounts Contents
Page
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TWELVE50 BIKES LIMITED Company Information for the year ended 31 March 2020
Directors
M.J. STEADMAN R.P. MINSHULL
Company Number
6205167 (England and Wales)
Registered Office
102 MAIN STREET FRODSHAM CHESHIRE WA6 7AR
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TWELVE50 BIKES LIMITED Statement of financial position as at 31 March 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
50,000 
50,000 
Tangible assets
5
69,621 
75,684 
119,621 
125,684 
Current assets
Inventories
6
223,538 
245,348 
Debtors
7
3,462 
11,034 
Cash at bank and in hand
2,154 
- 
229,154 
256,382 
Creditors: amounts falling due within one year
8
(139,763)
(167,096)
Net current assets
89,391 
89,286 
Total assets less current liabilities
209,012 
214,970 
Creditors: amounts falling due after more than one year
9
(55,654)
(61,327)
Net assets
153,358 
153,643 
Capital and reserves
Called up share capital
10
100 
100 
Capital redemption reserve
50,000 
50,000 
Profit and loss account
103,258 
103,543 
Shareholders' funds
153,358 
153,643 
For the year ending 31 March 2020 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2020 and were signed on its behalf by
R.P. MINSHULL Director Company Registration No. 6205167
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TWELVE50 BIKES LIMITED Notes to the Accounts for the year ended 31 March 2020
1
Statutory information
TWELVE50 BIKES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 6205167. The registered office is 102 MAIN STREET, FRODSHAM, CHESHIRE, WA6 7AR.
2
Compliance with accounting standards
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2019
50,000 
At 31 March 2020
50,000 
Amortisation
At 1 April 2019
- 
At 31 March 2020
- 
Net book value
At 31 March 2020
50,000 
At 31 March 2019
50,000 
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TWELVE50 BIKES LIMITED Notes to the Accounts for the year ended 31 March 2020
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2019
100,380 
4,121 
25,797 
130,298 
At 31 March 2020
100,380 
4,121 
25,797 
130,298 
Depreciation
At 1 April 2019
29,906 
4,120 
20,588 
54,614 
Charge for the year
4,171 
- 
1,892 
6,063 
At 31 March 2020
34,077 
4,120 
22,480 
60,677 
Net book value
At 31 March 2020
66,303 
1 
3,317 
69,621 
At 31 March 2019
70,474 
1 
5,209 
75,684 
6
Inventories
2020 
2019 
£ 
£ 
Finished goods
223,538 
245,348 
223,538 
245,348 
7
Debtors
2020 
2019 
£ 
£ 
Accrued income and prepayments
- 
7,500 
Other debtors
3,462 
3,534 
3,462 
11,034 
8
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Bank loans and overdrafts
5,673 
12,830 
Trade creditors
121,274 
146,278 
Taxes and social security
11,016 
6,188 
Other creditors
1,800 
1,800 
139,763 
167,096 
9
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Bank loans
55,654 
61,327 
10
Share capital
2020 
2019 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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TWELVE50 BIKES LIMITED Notes to the Accounts for the year ended 31 March 2020
11
Average number of employees
During the year the average number of employees was 5 (2019: 5).
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