Upgrade Bikes Limited in Worthing, BN11 1QR

Description

Data updated on: 01-11-2023

04608351 - registration number for Upgrade Bikes Limited. It was registered as a Private Limited Company on 2002-12-04. It has existed on the market for 22 years. This company can be contacted at Amelia House Crescent Road in Worthing. The post code assigned to this address is BN11 1QR. This business's principal business activity number is 47990 and has the NACE code: Other retail sale not in stores, stalls or markets. Upgrade Bikes Ltd reported its latest accounts for the period that ended on 2022/12/31. Its latest confirmation statement was submitted on 2022/12/04.

For this specific company, the majority of director's duties have so far been executed by Matthew R. and Damian M.. Within the group of these two individuals, Matthew R. has carried on with the company the longest, having been a vital part of directors' team for 22 years. In order to provide support to the directors, the abovementioned company has been using the skills of Matthew R. as a secretary since 2002.

Financial data based on annual reports

Profit & Loss
Date of Accounts	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31
Currency
Net Worth	1 592 398	2 801 997

Balance Sheet
Cash Bank On Hand			822 538	1 901 539	589 182	1 274 989	1 035 269	4 086 059	3 380 671	2 682 605
Current Assets	4 742 185	5 301 042	5 861 713	7 089 086	5 858 717	5 595 257	5 736 012	9 702 972	9 358 309	9 186 161
Debtors	1 591 074	2 136 145	1 873 834	1 946 481	1 621 808	1 457 911	1 644 476	2 599 766	1 700 601	1 679 722
Net Assets Liabilities			3 624 287	4 100 449	4 641 904	5 082 282	5 578 417	7 798 662	8 376 912	9 087 670
Other Debtors	77 755	14 902				700			6 914	6 914
Property Plant Equipment			1 203 773	1 198 517	1 176 833	1 173 641	1 172 179	1 146 246	1 217 480	1 196 212
Total Inventories			3 165 341	3 241 066	3 647 727	2 862 357	3 056 267	3 017 147	4 277 037	4 823 834
Cash Bank In Hand	552 663	333 141
Intangible Fixed Assets	825	825
Stocks Inventory	2 598 448	2 831 756
Tangible Fixed Assets	1 165 640	1 193 155
Trade Debtors	1 503 119	2 111 043

Capital & Reserves
Called Up Share Capital	6 001	6 001
Profit Loss Account Reserve	1 586 397	2 795 996
Shareholder Funds	1 592 398	2 801 997

Other Financial Data
Audit Fees Expenses			4 000	4 000	5 000	9 000	9 500	10 000	10 500	13 000
Accrued Liabilities Deferred Income			121 418	106 417	63 967	54 471	49 471	218 112	45 000	53 290
Accumulated Depreciation Impairment Property Plant Equipment			135 760	170 788	209 739	249 017	290 674	328 484	378 773	433 840
Additions Other Than Through Business Combinations Property Plant Equipment				29 775	17 267	36 086	40 195	11 877	121 523	33 799
Administrative Expenses	424 472	852 244	548 517	286 561	539 745	742 968	556 776	634 998	836 517	133 432
Amortisation Impairment Expense Intangible Assets								824
Amounts Owed To Group Undertakings									474 921	477 521
Average Number Employees During Period			25	25	29	30	31	30	31	32
Bank Borrowings			583 838	556 906	338 115	322 142	305 491
Bank Borrowings Overdrafts	614 113	583 961	556 973	529 824	321 949	305 634	288 089
Cash Cash Equivalents Cash Flow Value					589 182	1 274 989	1 035 269	4 086 059
Corporation Tax Payable				140 692	187 228	90 000	170 000	567 000	233 000	11 973
Corporation Tax Recoverable			10 431
Cost Inventories Recognised As Expense Gross			7 133 987	7 778 263
Cost Sales	7 439 934	7 814 062	8 524 254	9 125 530	9 895 361	8 844 718	8 210 475	11 592 017	10 899 787	8 983 425
Creditors			556 973	529 824	1 124 177	378 643	288 089	3 041 457	2 165 478	1 267 004
Current Tax For Period			191 145	140 692	187 228	90 000	170 000	567 000	483 000	250 000
Debt Securities Held			1 714 290	1 911 160	1 590 447
Deferred Tax Expense Credit From Unrecognised Timing Difference From Prior Period			-7 223	4 175
Deferred Tax Expense Credit Relating To Origination Reversal Timing Differences				5 000	-1 000		6 300	-1 200	24 300	-5 700
Depreciation Expense Property Plant Equipment			30 527	35 028	38 951	39 278	41 657	37 810	50 289	55 067
Depreciation Impairment Expense Property Plant Equipment						39 278	41 657	37 810
Derivative Liabilities					18 130		73 997	83 105		116 416
Distribution Costs	537 341	694 805	729 674	780 205	869 391	783 959	632 673	667 961	559 796	498 061
Dividends Paid					20 000	20 000	165 680	168 924	1 620 000	168 924
Dividends Paid Classified As Financing Activities					-20 000	-20 000	-165 680	-168 924
Dividends Paid On Shares Final						20 000	165 680	168 924
Dividends Paid On Shares Interim									1 620 000	168 924
Financial Assets			130 330	8 044
Finished Goods Goods For Resale	2 598 448	2 831 756	3 165 341	3 241 066	3 647 727	2 862 357	3 056 267	3 017 147	4 277 037	4 823 834
Fixed Assets	1 170 465	1 193 980	1 204 598	1 199 342	1 177 658	1 174 466	1 173 004	1 146 247	1 217 481	1 196 213
Further Item Cash Flow From Used In Financing Activities Component Net Cash Flows From Used In Financing Activities			26 244	26 932	218 791	15 973	16 651	305 491
Further Item Gain Loss Before Tax Component Net Gain Loss Before Tax									-158 249	505 235
Further Item Operating Expense Loss Income Statement Item Component Operating Profit Loss				673 629	19 220	29 175			36 854
Further Item Tax Increase Decrease Component Adjusting Items				2 577	-934	2 660	2 776	2 776	8 007	-1 350
Future Minimum Lease Payments Under Non-cancellable Operating Leases						8 246	3 210
Gain Loss Due To Foreign Exchange Differences Recognised In Profit Or Loss			132 841	317 606	-26 174	18 130	-5 119	5 798	103 215	-136 526
Gain Loss In Cash Flows From Change In Creditors Trade Other Payables						575 699	500 488	-1 620 541
Gain Loss In Cash Flows From Change In Debtors Trade Other Receivables						-163 897	186 565	955 290
Gain Loss In Cash Flows From Change In Inventories						-785 370	193 910	-39 120
Gain Loss On Disposals Property Plant Equipment			5 417
Government Grant Income								30 080
Gross Profit Loss	1 743 672	3 175 577	2 150 549	2 443 405	2 187 073	2 099 825	2 117 745	4 262 827	4 034 216	1 890 486
Impairment Loss Intangible Assets								824
Income Taxes Paid Refund Classified As Operating Activities			-450 086	67 052	-115 298	-187 228	-94 699	-170 313
Increase Decrease In Cash Cash Equivalents Before Foreign Exchange Differences Changes In Consolidation			-489 397	-1 079 001	1 312 357	-685 807	239 720	-3 050 790
Increase Decrease In Current Tax From Adjustment For Prior Periods			-28 350	-56 621	-25 394		4 699	313	-1 003	-800
Increase From Depreciation Charge For Year Property Plant Equipment				35 028	38 951	39 278	41 657	37 810	50 289	55 067
Intangible Assets			825	825	825	825	825	1	1	1
Interest Expense On Bank Overdrafts Bank Loans Similar Borrowings			18 146	17 345
Interest Expense On Obligations Under Finance Leases Hire Purchase Contracts			18 175	17 903
Interest Payable Similar Charges Finance Costs			18 146	17 345	11 530	15 174	14 533	26 380	4	103
Interest Received Classified As Investing Activities			-544	-1 854	-1 276	-3 699	-3 048	-822
Net Cash Flows From Used In Financing Activities			26 244	26 932	238 791	35 973	182 331	474 415
Net Cash Flows From Used In Investing Activities			35 184	27 921	15 991	32 387	37 147	11 055
Net Cash Flows From Used In Operating Activities			-550 825	-1 133 854	1 057 575	-754 167	20 242	-3 536 260
Net Cash Generated From Operations			-1 019 057	-1 084 147	930 747	-956 569	-88 990	-3 732 953
Net Current Assets Liabilities	1 036 046	2 191 978	2 976 662	3 435 931	4 592 423	4 290 459	4 703 802	6 661 515	7 192 831	7 919 157
Net Finance Income Costs			544	1 854	1 276	3 699	3 048	822
Net Interest Paid Received Classified As Operating Activities			-18 146	-17 345	-11 530	-15 174	-14 533	-26 380
Number Shares Issued Fully Paid						4 000
Operating Profit Loss	781 859	1 628 528	872 358	703 010	758 717	543 723	928 296	2 989 948	2 601 049	1 258 993
Other Creditors			1 928 550	1 621 656	183 569	37 491	23 945	74 951	5 329	5 329
Other Interest Receivable Similar Income Finance Income			544	1 854	1 276	3 699	3 048	822	287	818
Other Non-operating Net Gain Loss Before Tax								5 798	-158 249
Other Operating Income Format1								30 080
Other Taxation Social Security Payable			65 148	645 091	802 228	73 009	146 852	303 736	319 208	228 036
Par Value Share		1				1
Pension Other Post-employment Benefit Costs Other Pension Costs			207 047	64 704	33 864	98 600	51 129	180 466	129 080	40 163
Prepayments Accrued Income			18 783	27 277	31 361	264 416	198 032	661 094	264 915	154 468
Proceeds From Sales Property Plant Equipment			-5 417
Profit Loss			808 122	476 162	561 455	460 378	661 815	2 389 169	2 198 250	879 682
Profit Loss On Ordinary Activities Before Tax	835 351	1 605 008	970 917	565 233	722 289	550 378	842 814	2 955 282	2 704 547	1 123 182
Property Plant Equipment Gross Cost			1 339 530	1 369 305	1 386 572	1 422 658	1 462 853	1 474 730	1 596 253	1 630 052
Provisions For Liabilities Balance Sheet Subtotal				5 000	4 000	4 000	10 300
Purchase Property Plant Equipment			-41 145	-29 775	-17 267	-36 086	-40 195	-11 877
Social Security Costs	64 745	72 246	78 523	71 503	81 173	81 439	81 770	86 295	94 644	108 628
Staff Costs Employee Benefits Expense			1 022 255	902 972	927 864	1 039 023	983 610	1 178 520	1 196 142	1 157 623
Taxation Including Deferred Taxation Balance Sheet Subtotal				5 000	4 000	4 000	10 300	9 100	33 400	27 700
Tax Decrease From Utilisation Tax Losses					49 169
Tax Expense Credit Applicable Tax Rate						104 572	160 135	561 504	513 864	213 405
Tax Increase Decrease From Effect Adjustment In Research Development Tax Credit					-18 395	-12 350	-5 434	-408
Tax Increase Decrease From Effect Capital Allowances Depreciation			2 485	2 577						-1 100
Tax Increase Decrease From Effect Expenses Not Deductible In Determining Taxable Profit Or Loss			752	25 893	113 304	-2 006	14 976	2 093	-15 061	33 357
Tax Increase Decrease From Other Short-term Timing Differences			-1 091	4 175	-258	-2 876	3 847	-165	-2 286	-795
Tax Tax Credit On Profit Or Loss On Ordinary Activities			162 795	89 071	160 834	90 000	180 999	566 113	506 297	243 500
Total Assets Less Current Liabilities	2 206 511	3 385 958	4 181 260	4 635 273	5 770 081	5 464 925	5 876 806	7 807 762	8 410 312	9 115 370
Total Borrowings				529 824	321 949	305 634	288 089
Total Current Tax Expense Credit			162 795	84 071	161 834	90 000	174 699	567 313	481 997	249 200
Total Operating Lease Payments				17 903	13 712	4 687	5 208	-3 206
Trade Creditors Trade Payables			743 070	1 112 217	383 418	701 723	550 543	1 794 553	1 088 020	374 439
Trade Debtors Trade Receivables			1 714 290	1 911 160	1 590 447	1 192 795	1 446 444	1 938 672	1 408 662	1 518 340
Turnover Revenue			10 674 803	11 568 935	12 082 434	10 944 543	10 328 220	15 854 844	14 934 003	10 873 911
Wages Salaries	578 425	664 435	736 685	766 765	812 827	858 984	850 711	911 759	972 418	1 008 832
Company Contributions To Defined Benefit Plans Directors			186 400	43 800	9 600	69 450	18 150	147 676	87 272
Director Remuneration							17 751	12 790	13 182	13 182
Director Remuneration Benefits Including Payments To Third Parties	33 899	41 658				89 610	35 901	160 466	100 454	13 182
Total Fees To Auditors	4 000
Company Contributions To Money Purchase Schemes Directors	9 600	227 457
Accruals Deferred Income Within One Year	12 500	88 176
Adjustment For Prior Periods Leading To An Increase Decrease In Tax Charge		-59 993
Bank Overdrafts	15 887	26 121
Cash Flow Outflow Before Management Liquid Resources Financing	51 480	199 604
Commitments Under Non-cancellable Operating Leases Other Items	-13 313	-7 242
Corporation Tax Due Within One Year	169 782	276 860
Creditors Due After One Year	614 113	583 961
Creditors Due Within One Year	3 706 139	3 109 064
Depreciation Tangible Fixed Assets Expense	22 209	30 944
Expenses Not Deductible For Tax Purposes	734	1 637
Foreign Currency Translation Gain Loss Recognised In Profit Loss	25 098	-187 850
Gain Loss From Disposal Tangible Fixed Assets		-1 918
Income From Other Fixed Asset Investments		-4 000
Increase Decrease In Net Cash For Period	404 936	219 522
Increase Decrease In U K Corporation Tax Arising From Adjustment For Prior Periods		-59 993
Intangible Fixed Assets Cost Or Valuation		825
Interest Payable Similar Charges	17 388	19 579
Interest Receivable On Short-term Investments Loans Deposits	14	59
Investment Income- Net		-4 000
Investments Fixed Assets	4 000
Loans From Directors	2 250 401	2 100 111
Net Assets Liability Excluding Pension Asset Liability	1 592 398	2 801 997
Net Debt Funds	77 337	276 941
Net Increase Decrease In Shareholders Funds	543 168	1 209 599
Number Shares Allotted		1
Obligations Under Finance Leases Hire Purchase Contracts After Five Years	-566 453	-470 495
Obligations Under Finance Leases Hire Purchase Contracts Between One To Two Years	-15 887	-26 863
Obligations Under Finance Leases Hire Purchase Contracts Between Two To Five Years	-47 660	-86 603
Other Creditors Due Within One Year	5 656	5 321
Other Interest Receivable Similar Income	14	59
Other Operating Leases Expiring Between Two Five Years		-5 219
Other Operating Leases Expiring Within One Year	-13 313	-2 023
Other Taxation Social Security Within One Year	108 518	24 148
Pension Costs	12 300	237 049
Pensions Costs Defined Contribution Schemes	12 300	237 049
Prepayments Accrued Income Current Asset	10 200	10 200
Profit Loss For Period	665 569	1 328 148
Profit Loss On Ordinary Activities Before Finance Charges Interest	852 725	1 628 528
Share Capital Allotted Called Up Paid	1	1
Short-term Borrowing Charges Including Bank Interest	17 388	19 579
Staff Costs	655 470	973 730
Tangible Fixed Assets Additions		59 791
Tangible Fixed Assets Cost Or Valuation	1 297 743	1 298 385
Tangible Fixed Assets Depreciation	132 103	105 230
Tangible Fixed Assets Depreciation Charged In Period		30 944
Tangible Fixed Assets Depreciation Decrease Increase On Disposals		57 817
Tangible Fixed Assets Disposals		59 149
Taxation Expense Credit	14 431	169 782
Tax On Group Profit On Ordinary Activities Standard U K Tax Rate	-194 191	-345 077
Tax On Profit Or Loss On Ordinary Activities	169 782	276 860
Total Dividend Payment	122 401	118 549
Total U K Foreign Current Tax After Adjustments Relief	169 782	276 860
Trade Creditors Within One Year	1 143 395	588 327
Turnover Gross Operating Revenue	9 381 250	10 989 639
U K Current Corporation Tax On Income For Period	169 782	336 853

Company staff

Matthew R.

Role: Director

Appointed: 04 December 2002

Latest update: 15 February 2024

Matthew R.

Role: Secretary

Appointed: 04 December 2002

Latest update: 15 February 2024

Damian M.

Role: Director

Appointed: 04 December 2002

Latest update: 15 February 2024

People with significant control

The companies with significant control over this firm are: Upgrade Group Limited owns over 3/4 of company shares and has 3/4 to full of voting rights. This business can be reached in Worthing at Crescent Road, BN11 1QR, West Sussex and was registered as a PSC under the reg no 12983521.

Upgrade Group Limited

Address: Amelia House Crescent Road, Worthing, West Sussex, BN11 1QR, United Kingdom

Legal authority Companies Act 2006

Legal form Private Company Limited By Shares

Country registered England & Wales

Place registered Companies House

Registration number 12983521

Notified on 30 November 2020

Nature of control:

over 3/4 of shares

3/4 to full of voting rights

Matthew R.

Notified on 6 April 2016

Ceased on 30 November 2020

Nature of control:

1/2 or less of voting rights

1/2 or less of shares

Damian M.

Notified on 6 April 2016

Ceased on 30 November 2020

Nature of control:

1/2 or less of voting rights

Shou M.

Notified on 6 April 2016

Ceased on 30 November 2020

Nature of control:

1/2 or less of voting rights

Accounts Documents

Account next due date	30 September 2024
Account last made up date	31 December 2022
Confirmation statement next due date	18 December 2023
Confirmation statement last made up date	04 December 2022

Annual Accounts 22 July 2015
Start Date For Period Covered By Report	2014-01-01
End Date For Period Covered By Report	2014-12-31
Date Approval Accounts	22 July 2015
Annual Accounts
Start Date For Period Covered By Report	2016-01-01
End Date For Period Covered By Report	2016-12-31
Annual Accounts
Start Date For Period Covered By Report	2017-01-01
End Date For Period Covered By Report	2017-12-31
Annual Accounts
Start Date For Period Covered By Report	2018-01-01
End Date For Period Covered By Report	2018-12-31
Annual Accounts
Start Date For Period Covered By Report	2019-01-01
End Date For Period Covered By Report	2019-12-31
Annual Accounts
Start Date For Period Covered By Report	2020-01-01
End Date For Period Covered By Report	2020-12-31
Annual Accounts
Start Date For Period Covered By Report	2021-01-01
End Date For Period Covered By Report	2021-12-31
Annual Accounts
Start Date For Period Covered By Report	2022-01-01
End Date For Period Covered By Report	2022-12-31

Upgrade Bikes Limited

General information

Name:

Office Address:

Description

Financial data based on annual reports

Company staff

Matthew R.

Matthew R.

Damian M.

People with significant control

Upgrade Group Limited

Matthew R.

Damian M.

Shou M.

Accounts Documents

Company filings

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