PAUL'S CYCLES LIMITED

PAUL'S CYCLES LIMITED

PAUL'S CYCLES LIMITED - Company Information

Print Friendly Version

PAUL'S CYCLES LIMITED

Company Registration Number:
03883525 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2018

Period of accounts

Start date: 01 February 2017

End date: 31 January 2018

PAUL'S CYCLES LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2018

Balance sheet
Notes

PAUL'S CYCLES LIMITED

Balance sheet

As at 31 January 2018


Notes
2018
2017


£
£
Fixed assets
Intangible assets: 3 1 1
Tangible assets: 4 36,591 8,231
Total fixed assets: 36,592 8,232
Current assets
Stocks: 1,687,038 1,852,461
Debtors: 5 5,795,201 172,580
Cash at bank and in hand: 266,214 4,602,362
Total current assets: 7,748,453 6,627,403
Creditors: amounts falling due within one year: 6 (1,306,160) (374,151)
Net current assets (liabilities): 6,442,293 6,253,252
Total assets less current liabilities: 6,478,885 6,261,484
Provision for liabilities: (5,860) (1,573)
Total net assets (liabilities): 6,473,025 6,259,911
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 6,473,024 6,259,910
Shareholders funds: 6,473,025 6,259,911

The notes form part of these financial statements

PAUL'S CYCLES LIMITED

Balance sheet statements

For the year ending 31 January 2018 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 31 October 2018
and signed on behalf of the board by:

Name: Mark Colley
Status: Director

The notes form part of these financial statements

PAUL'S CYCLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2018

1. Accounting policies

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

PAUL'S CYCLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2018

2. Employees

2018 2017
Average number of employees during the period 12 13

PAUL'S CYCLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2018

3. Intangible Assets

Total
Cost £
At 01 February 2017 1
At 31 January 2018 1
Net book value
At 31 January 2018 1
At 31 January 2017 1

PAUL'S CYCLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2018

4. Tangible Assets

Total
Cost £
At 01 February 2017 36,080
Additions 34,841
At 31 January 2018 70,921
Depreciation
At 01 February 2017 27,849
Charge for year 6,481
At 31 January 2018 34,330
Net book value
At 31 January 2018 36,591
At 31 January 2017 8,231

PAUL'S CYCLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2018

5. Debtors

2018 2017
££
Debtors due after more than one year: 5,766,704 0

PAUL'S CYCLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2018

6. Creditors: amounts falling due within one year note

Creditors at year end consist of Trade creditors 62,793 Amounts owed to group undertakings 150,000 Corporation tax 13,546 Other taxation and social security 63,782 Other creditors (3 year inventory facility) 1,008,909 Accruals and deferred income 7,130.

PAUL'S CYCLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2018

7. Related party transactions

Name of the related party: Corriedale Limited
Relationship:
Group company
Description of the Transaction: During the year the Company received a loan from a group company. The loan was interest free and repayable on demand.
£
Balance at 01 February 2017 0
Balance at 31 January 2018 150,000
Name of the related party: Corriedale Limited
Relationship:
Group company
Description of the Transaction: During the year the Company made a loan to a group company. The loan was interest free and not repayable on demand.
£
Balance at 01 February 2017 0
Balance at 31 January 2018 5,766,704