RED_BIKE_LIMITED - Accounts

RED BIKE LIMITED - Company Information

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Company Registration No. 09376856 (England and Wales)

RED BIKE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2016

RED BIKE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

RED BIKE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

Notes

Fixed assets

Tangible assets

2,949

Current assets

Debtors

8,190

Cash at bank and in hand

13,140

21,330

Creditors: amounts falling due within one year

(23,461)

Net current liabilities

(2,131)

Total assets less current liabilities

818

Provisions for liabilities

(590)

228

Capital and reserves

Called up share capital

Profit and loss account

227

Shareholder's funds

228

For the financial period ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 6 October 2016

Mr R Selway

Director

Company Registration No. 09376856

RED BIKE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 JANUARY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

At the end of the year the company reported net current liabilities of £2,131. The company relies on the continued support from its creditors to fund its day to day working capital requirements. The director has given his assurance that this support will not be withdrawn to the detriment of the company within twelve from the date of months of signature of these financial statements and accordingly consider it appropriate to prepare them on a going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% of cost on a straight line basis

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

Additions

3,932

At 31 January 2016

3,932

Depreciation

Charge for the period

983

At 31 January 2016

983

Net book value

At 31 January 2016

2,949

RED BIKE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 JANUARY 2016

- 3 -

Share capital

2016

Allotted, called up and fully paid

1 Ordinary share of £1 each

During the period one ordinary share of £1 was issued and fully paid at par in order to establish the initial control of the company.

Related party relationships and transactions

Transactions in relation to loans with directors during the period are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr R Selway - director's current account

5,143

Other transactions

During the period the director received a fully paid consideration of £ 520 for the use of his home as the company's office and stores.