Company Registration No. 6205167 (England and Wales)
TWELVE50 BIKES LIMITED
Unaudited accounts
for the year ended 31 March 2017
TWELVE50 BIKES LIMITED
Unaudited accounts
Contents
TWELVE50 BIKES LIMITED
Company Information
for the year ended 31 March 2017
Directors
M.J. STEADMAN
R.P. MINSHULL
Company Number
6205167 (England and Wales)
Registered Office
102 MAIN STREET
FRODSHAM
CHESHIRE
WA6 7AR
TWELVE50 BIKES LIMITED
Statement of financial position
as at 31 March 2017
Tangible assets
87,810
85,811
Inventories
110,847
93,208
Cash at bank and in hand
1,033
2,960
Creditors: amounts falling due within one year
(100,593)
(103,280)
Net current assets/(liabilities)
17,215
(1,814)
Called up share capital
100
100
Profit and loss account
104,925
83,897
Shareholders' funds
105,025
83,997
For the year ending 31 March 2017 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.
Approved by the Board on 12 May 2017.
R.P. MINSHULL
Director
Company Registration No. 6205167
TWELVE50 BIKES LIMITED
Notes to the Accounts
for the year ended 31 March 2017
TWELVE50 BIKES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 6205167. The registered office is 102 MAIN STREET, FRODSHAM, CHESHIRE, WA6 7AR.
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.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
TWELVE50 BIKES LIMITED
Notes to the Accounts
for the year ended 31 March 2017
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2016
92,318
4,121
25,797
122,236
At 31 March 2017
100,380
4,121
25,797
130,298
At 1 April 2016
17,393
4,120
14,912
36,425
Charge for the year
4,171
-
1,892
6,063
At 31 March 2017
21,564
4,120
16,804
42,488
At 31 March 2017
78,816
1
8,993
87,810
At 31 March 2016
74,925
1
10,885
85,811
Finished goods
110,847
93,208
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
5,160
3,000
Trade creditors
27,072
37,052
Taxes and social security
11,477
11,372
Other creditors
2,015
2,889
Loans from directors
54,869
48,967
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 0 (2016: 0).
