Bike Shed Holdings Limited 31/12/2022 iXBRL

Bike Shed Holdings Limited 31/12/2022 iXBRL

BIKE SHED HOLDINGS LIMITED - Company Information

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0 31/12/2022 2022-12-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-01-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 12058047 2022-01-01 2022-12-31 12058047 2022-12-31 12058047 2021-01-01 2021-12-31 12058047 2021-12-31 12058047 2020-12-31 12058047 bus:Director1 2022-01-01 2022-12-31 12058047 core:ShareCapital 2021-01-01 2021-12-31 12058047 core:SharePremium 2021-01-01 2021-12-31 12058047 core:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 12058047 core:ShareCapital 2022-01-01 2022-12-31 12058047 core:SharePremium 2022-01-01 2022-12-31 12058047 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 12058047 core:WithinOneYear 2022-12-31 12058047 core:WithinOneYear 2021-12-31 12058047 core:ShareCapital 2022-12-31 12058047 core:ShareCapital 2021-12-31 12058047 core:SharePremium 2022-12-31 12058047 core:SharePremium 2021-12-31 12058047 core:RetainedEarningsAccumulatedLosses 2022-12-31 12058047 core:RetainedEarningsAccumulatedLosses 2021-12-31 12058047 core:ShareCapital 2020-12-31 12058047 core:SharePremium 2020-12-31 12058047 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 12058047 core:Non-currentFinancialInstruments 2022-12-31 12058047 core:Non-currentFinancialInstruments 2021-12-31 12058047 bus:SmallEntities 2022-01-01 2022-12-31 12058047 bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12058047 bus:FullAccounts 2022-01-01 2022-12-31 12058047 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 12058047 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31
Company registration number: 12058047
Bike Shed Holdings Limited
Unaudited filleted financial statements
31 December 2022
Bike Shed Holdings Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Bike Shed Holdings Limited
Statement of financial position
31 December 2022
31/12/22 31/12/21
Note £ £ £ £
Fixed assets
Investments 4 8,906,444 8,906,444
_______ _______
8,906,444 8,906,444
Current assets
Debtors 5 4,820,744 3,517,783
_______ _______
4,820,744 3,517,783
Creditors: amounts falling due
within one year 6 ( 1,200) ( 1,200)
_______ _______
Net current assets 4,819,544 3,516,583
_______ _______
Total assets less current liabilities 13,725,988 12,423,027
_______ _______
Net assets 13,725,988 12,423,027
_______ _______
Capital and reserves
Called up share capital 14,622 12,088
Share premium account 13,717,259 12,415,633
Profit and loss account ( 5,893) ( 4,694)
_______ _______
Shareholders funds 13,725,988 12,423,027
_______ _______
For the period ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:
Mr Anthony van Someren
Director
Company registration number: 12058047
Bike Shed Holdings Limited
Statement of changes in equity
Period ended 31 December 2022
Called up share capital Share premium account Profit and loss account Total
£ £ £ £
At 1 January 2021 8,909 9,818,520 - 9,827,429
Loss for the period ( 4,694) ( 4,694)
_______ _______ _______ _______
Total comprehensive income for the period - - ( 4,694) ( 4,694)
Issue of shares 3,179 2,597,113 2,600,292
_______ _______ _______ _______
Total investments by and distributions to owners 3,179 2,597,113 - 2,600,292
_______ _______ _______ _______
At 31 December 2021 and 1 January 2022 12,088 12,415,632 ( 4,694) 12,423,026
Loss for the period ( 1,199) ( 1,199)
_______ _______ _______ _______
Total comprehensive income for the period - - ( 1,199) ( 1,199)
Issue of shares 2,534 1,301,627 1,304,161
_______ _______ _______ _______
Total investments by and distributions to owners 2,534 1,301,627 - 1,304,161
_______ _______ _______ _______
At 31 December 2022 14,622 13,717,259 ( 5,893) 13,725,988
_______ _______ _______ _______
Bike Shed Holdings Limited
Notes to the financial statements
Period ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Second Floor, 32-33 Gosfield Street, London, W1W 6HL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 January 2022 and 31 December 2022 8,906,444 8,906,444
_______ _______
Impairment
At 1 January 2022 and 31 December 2022 - -
_______ _______
Carrying amount
At 31 December 2022 8,906,444 8,906,444
_______ _______
At 31 December 2021 8,906,444 8,906,444
_______ _______
5. Debtors
31/12/22 31/12/21
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 4,819,779 3,516,818
Other debtors 965 965
_______ _______
4,820,744 3,517,783
_______ _______
6. Creditors: amounts falling due within one year
31/12/22 31/12/21
£ £
Other creditors 1,200 1,200
_______ _______
7. Related party transactions
During the period the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
Year Period Year Period
ended ended ended ended
31/12/22 31/12/21 31/12/22 31/12/21
£ £ £ £
Subsidiaries - - 4,819,779 3,516,818
_______ _______ _______ _______
The company has made loans to its subsidiaries totalling £4,819,779 (2021 - £3,516.,818).