1st Bike UK Limited - Period Ending 2016-09-30

Registration number: 05569119

1st Bike UK Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

SCS Accounting Solutions Limited
Unit 5, Broadway Barns
The Broadway
Scarning
Dereham
Norfolk
NR19 2LQ

1st Bike UK Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

1st Bike UK Limited
(Registration number: 05569119)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					393			491
Current assets
Stocks					200			200
Cash at bank and in hand					191			426
					391			626
Creditors: Amounts falling due within one year					(19,652)			(13,440)
Net current liabilities					(19,261)			(12,814)
Net liabilities					(18,868)			(12,323)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(18,968)			(12,423)
Shareholders' deficit					(18,868)			(12,323)

For the year ending 30 September 2016 the company was entitled to exemption 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 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 4 November 2016

.........................................
Mr Andrew Roger David Hayward
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

1st Bike UK Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

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

Asset class	Depreciation method and rate
Plant & Machinery	20% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

1st Bike UK Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		1,500			1,500
At 30 September 2016		1,500			1,500
Depreciation
At 1 October 2015		1,009			1,009
Charge for the year		98			98
At 30 September 2016		1,107			1,107
Net book value
At 30 September 2016		393			393
At 30 September 2015		491			491

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3