The Yellow Bike Company Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06922927 (England and Wales)

THE YELLOW BIKE COMPANY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P R C Darlington

N Henry

REGISTERED OFFICE:

Mulberry House

The Street

Whiteparish

Salisbury

Hampshire

SP5 2SL

REGISTERED NUMBER:

06922927 (England and Wales)

FIXED ASSETS

Tangible assets

4

24,376

59,849

CURRENT ASSETS

Cash at bank

552

774

CREDITORS

Amounts falling due within one year

5

(240,551

)

(214,930

)

NET CURRENT LIABILITIES

(239,999

)

(214,156

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(215,623

)

(154,307

)

CAPITAL AND RESERVES

Called up share capital

39,000

39,000

Share premium

10,000

10,000

Retained earnings

(264,623

)

(203,307

)

SHAREHOLDERS' FUNDS

(215,623

)

(154,307

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 17 July 2018 and were signed on its behalf by:

P R C Darlington - Director

1.	STATUTORY INFORMATION

The Yellow Bike Company Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure

is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain

financial instruments at fair value. The principal accounting policies adopted are set out below.

These financial statements are the first financial statements the company has prepared in accordance with

Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of

Ireland' (FRS 102), as applied to smaller entities by the adoption of Section 1A of FRS 102. The financial

statements for the year ended 31 October 2016 were prepared in accordance with previous UK GAAP.

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting policy

choices differ from previous UK GAAP, however the directors consider these accounting policies comply with

FRS 102. There have been no transitional adjustments.

At the balance sheet date the company has net liabilities, and is dependent upon the support of the directors to

continue trading. The directors have indicated their support will continue for a period of at least 12 months from

the date of signing these financial statements, and as such the going concern basis has been used.

Tangible fixed assets

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

Plant and machinery

-

15% Reducing balance

Fixtures and fittings

-

15% Reducing balance

Computer equipment

-

33% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and

the carrying value of the asset and is recognised in the income statement.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Financial assets

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes

party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost using the

effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is

measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and

subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the

debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct

issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the

discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2016

131,540

1,888

7,142

140,570

Additions

1,334

210

6,540

8,084

Disposals

(89,244

)

-

-

(89,244

)

At 31 October 2017

43,630

2,098

13,682

59,410

DEPRECIATION

At 1 November 2016

74,332

283

6,106

80,721

Charge for year

2,810

272

1,781

4,863

Eliminated on disposal

(50,550

)

-

-

(50,550

)

At 31 October 2017

26,592

555

7,887

35,034

NET BOOK VALUE

At 31 October 2017

17,038

1,543

5,795

24,376

At 31 October 2016

57,208

1,605

1,036

59,849

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

2,200

Taxation and social security

7,986

8,032

Other creditors

232,565

204,698

240,551

214,930

6.	RELATED PARTY DISCLOSURES

E Darlington

Wife of P R C Darlington.

At the balance sheet date the company was owed £8,700 (2016: £nil).

No interest is charged on this loan.