Company Registration No. 08789116 (England and Wales)
Norwich Bicycle Repair Co-operative Ltd
Unaudited accounts
for the year ended 31 December 2021
Norwich Bicycle Repair Co-operative Ltd
Unaudited accounts
Contents
Norwich Bicycle Repair Co-operative Ltd
Company Information
for the year ended 31 December 2021
Directors
Mark Smith
Charlie Brockhouse Smith
Stewart Ingram
Sharman Ingram
Lewis Wingfield
Company Number
08789116 (England and Wales)
Registered Office
20 Savery Close
Norwich
Norfolk
NR5 8NJ
United Kingdom
Accountants
Mrs A C Howell
13 Ipswich Grove
Norwich
Norfolk
NR2 2LU
Norwich Bicycle Repair Co-operative Ltd
Statement of financial position
as at 31 December 2021
Cash at bank and in hand
33,240
24,705
Creditors: amounts falling due within one year
(18,913)
(23,968)
Net current assets
37,945
19,598
Total assets less current liabilities
38,269
20,031
Creditors: amounts falling due after more than one year
(19,174)
(23,974)
Provisions for liabilities
Other provisions
(3,000)
(3,000)
Net assets/(liabilities)
16,095
(6,943)
Profit and loss account
16,095
(6,943)
Members' funds
16,095
(6,943)
For the year ending 31 December 2021 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 13 July 2022 and were signed on its behalf by
Charlie Brockhouse Smith
Director
Company Registration No. 08789116
Norwich Bicycle Repair Co-operative Ltd
Notes to the Accounts
for the year ended 31 December 2021
Norwich Bicycle Repair Co-operative Ltd is a private company, limited by guarantee, registered in England and Wales, registration number 08789116. The registered office is 20 Savery Close, Norwich, Norfolk, NR5 8NJ, United Kingdom.
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.
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 accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
20% straight line
Norwich Bicycle Repair Co-operative Ltd
Notes to the Accounts
for the year ended 31 December 2021
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2021
2,399
840
433
3,672
At 31 December 2021
2,399
840
433
3,672
At 1 January 2021
2,149
657
433
3,239
Charge for the year
63
46
-
109
At 31 December 2021
2,212
703
433
3,348
At 31 December 2021
187
137
-
324
At 31 December 2020
250
183
-
433
5
Debtors: amounts falling due within one year
2021
2020
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
4,800
2,000
Trade creditors
1,108
3,234
Taxes and social security
5,688
1,908
7
Creditors: amounts falling due after more than one year
2021
2020
Other creditors
1,974
1,974
8
Provisions for liabilities
£
Norwich Bicycle Repair Co-operative Ltd
Notes to the Accounts
for the year ended 31 December 2021
9
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
10
Average number of employees
During the year the average number of employees was 5 (2020: 4).
