GIGACYCLE LTD

GIGACYCLE LTD

GIGACYCLE LTD - Company Information

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GIGACYCLE LTD

Company Registration Number:
08583915 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2017

Period of accounts

Start date: 01 August 2016

End date: 31 July 2017

GIGACYCLE LTD

Contents of the Financial Statements

for the Period Ended 31 July 2017

Balance sheet
Notes

GIGACYCLE LTD

Balance sheet

As at 31 July 2017


Notes
2017
2016


£
£
Fixed assets
Tangible assets: 2 32,462 25,265
Total fixed assets: 32,462 25,265
Current assets
Stocks: 35,000 30,000
Debtors:   74,319 21,075
Cash at bank and in hand: 37,987 30,645
Total current assets: 147,306 81,720
Creditors: amounts falling due within one year:   (132,986) (86,247)
Net current assets (liabilities): 14,320 (4,527)
Total assets less current liabilities: 46,782 20,738
Total net assets (liabilities): 46,782 20,738
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 46,772 20,728
Shareholders funds: 46,782 20,738

The notes form part of these financial statements

GIGACYCLE LTD

Balance sheet statements

For the year ending 31 July 2017 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 April 2018
and signed on behalf of the board by:

Name: D Hodgson
Status: Director

The notes form part of these financial statements

GIGACYCLE LTD

Notes to the Financial Statements

for the Period Ended 31 July 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on the despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred in respect of the transactions can be measured reliably

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Fittings fixtures and equipment - 20% reducing balanceMotor vehicles - 25% reducing balance

GIGACYCLE LTD

Notes to the Financial Statements

for the Period Ended 31 July 2017

2. Tangible Assets

Total
Cost £
At 01 August 2016 36,960
Additions 16,151
At 31 July 2017 53,111
Depreciation
At 01 August 2016 11,695
Charge for year 8,954
At 31 July 2017 20,649
Net book value
At 31 July 2017 32,462
At 31 July 2016 25,265