Bright Cycles Limited - Limited company - abbreviated - 11.9

Bright Cycles Limited - Limited company - abbreviated - 11.9

BRIGHT CYCLES LIMITED - Company Information

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REGISTERED NUMBER: 04713890 (England and Wales)















ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015

FOR

BRIGHT CYCLES LIMITED

BRIGHT CYCLES LIMITED (REGISTERED NUMBER: 04713890)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

BRIGHT CYCLES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2015







DIRECTOR: E L Bright





SECRETARY: Mrs M J Bright





REGISTERED OFFICE: Chart House
2 Effingham Road
Reigate
Surrey
RH2 7JN





REGISTERED NUMBER: 04713890 (England and Wales)





ACCOUNTANTS: John Williams and Co
Chartered Accountants
Chart House
2 Effingham Road
Reigate
Surrey
RH2 7JN
Page 1
BRIGHT CYCLES LIMITED (REGISTERED NUMBER: 04713890)

ABBREVIATED BALANCE SHEET
31 MARCH 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 3,532 3,930
3,532 3,930

CURRENT ASSETS
Stocks 85,600 81,215
Debtors 2,006 1,906
Cash in hand 37 875
87,643 83,996
CREDITORS
Amounts falling due within one year 90,285 86,558
NET CURRENT LIABILITIES (2,642 ) (2,562 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
890
1,368

PROVISIONS FOR LIABILITIES 706 1,236
NET ASSETS 184 132

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 84 32
SHAREHOLDERS' FUNDS 184 132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The notes form part of these abbreviated accounts

Page 2 continued...
BRIGHT CYCLES LIMITED (REGISTERED NUMBER: 04713890)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 2015


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 19 November 2015 and were signed by:





E L Bright - Director


The notes form part of these abbreviated accounts

Page 3
BRIGHT CYCLES LIMITED (REGISTERED NUMBER: 04713890)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold - Over the length of the lease
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2014
and 31 March 2015 19,000
AMORTISATION
At 1 April 2014
and 31 March 2015 19,000
NET BOOK VALUE

At 31 March 2015 -
At 31 March 2014 -

Page 4 continued...
BRIGHT CYCLES LIMITED (REGISTERED NUMBER: 04713890)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2015

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2014 14,417
Additions 226
At 31 March 2015 14,643
DEPRECIATION
At 1 April 2014 10,487
Charge for year 624
At 31 March 2015 11,111
NET BOOK VALUE
At 31 March 2015 3,532
At 31 March 2014 3,930

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
100 Ordinary £1 100 100

Page 5