Ride Repair Cycles Ltd
Ride Repair Cycles Ltd
Registered number: 12165884
Unaudited ABRIDGED Financial Statements
For The Year Ended
31 August 2020
Business Financial Management Services Limited
3 Lowther Gardens
Grange Over Sands
Cumbria
LA11 7EX
Ride Repair Cycles Ltd
Unaudited Financial Statements
For The Year Ended
31 August 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Balance Sheet | 1—2 |
| Notes to the Abridged Financial Statements | 3 |
Ride Repair Cycles Ltd
Abridged Balance Sheet
As at
31 August 2020
Abridged Balance Sheet
Registered number:
12165884
For the year ending 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | |||
|---|---|---|---|
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Stocks |
|
||
| Cash at bank and in hand |
|
||
|
|
|||
| Creditors: Amounts Falling Due Within One Year |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
( |
||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
||
| Creditors: Amounts Falling Due After More Than One Year | (6,150) | ||
| NET LIABILITIES |
( |
||
| Profit and Loss Account |
( |
||
| SHAREHOLDERS' FUNDS | (21,709) | ||
Page 1
Ride Repair Cycles Ltd
Abridged Balance Sheet (continued)
As at
31 August 2020
Director's responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
-
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2020 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
|
Director
|
|
|
The notes on page 3 form part of these financial statements.
Page 2
Ride Repair Cycles Ltd
Notes to the Abridged Financial Statements
For The Year Ended
31 August 2020
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
1.3.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.4.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1
3.
General Information
Ride Repair Cycles Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
12165884
. The registered office is 8 Abbots Way, Grange Over Sands, Cumbria, LA11 7BP.
Page 3