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REGISTERED NUMBER: 07392548 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

WHEELWRIGHT (HOLDINGS) LIMITED

WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WHEELWRIGHT (HOLDINGS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: T J Hooker
D P Mcmillan
M S Thomson
A D Thomson





REGISTERED OFFICE: Steelfields Gads Hill
Owens Way
Gillingham
Kent
ME7 2RT





REGISTERED NUMBER: 07392548 (England and Wales)





AUDITORS: Haines Watts, Statutory Auditor
Chartered Accountants
Advantage
87 Castle Street
Reading
Berkshire
RG1 7SN

WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £ £ £ £
FIXED ASSETS
Investments 4 110,000 110,000

CURRENT ASSETS
Debtors 5 1,763,757 368,357
Cash at bank 101 1,060,298
1,763,858 1,428,655
CREDITORS
Amounts falling due within one year 6 1,563,865 1,226,077
NET CURRENT ASSETS 199,993 202,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,993

312,578

CAPITAL AND RESERVES
Called up share capital 7 2,100 2,100
Retained earnings 307,893 310,478
SHAREHOLDERS' FUNDS 309,993 312,578

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 29 June 2022 and were signed on its behalf by:





M S Thomson - Director


WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Wheelwright (Holdings) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest £.

2. ACCOUNTING POLICIES

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

Going Concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Preparation of consolidated financial statements
The financial statements contain information about Wheelwright (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Wheelwright Group Limited, Steelfields, Gads Hill, Owens Way, Gillingham, Kent, ME7 2RT, UK.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Interest income
Interest income is recognised in profit or loss using the effective interest method.

Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value , net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are high liquid investments that mature in mo more than three months from the date of aquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 1 ).

WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2021
and 31 December 2021 110,000
NET BOOK VALUE
At 31 December 2021 110,000
At 31 December 2020 110,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Amounts owed by group undertakings 1,644,497 -
Other debtors 119,260 368,357
1,763,757 368,357

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Amounts owed to group undertakings 1,558,469 1,226,077
Other creditors 5,396 -
1,563,865 1,226,077

7. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £ £
2,000 Ordinary £1 2,000 2,000
100 Ordinary A £1 100 100
2,100 2,100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Newbold FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Statutory Auditor

WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


9. CONTINGENT LIABILITIES

A fixed and floating rate charge is held against the Company by the way of guarantee over the loan held in Wheelwright limited.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

All related party transactions during the current and prior periods, including key management personnel compensation, were made under normal market conditions.

Overdrawn directors loan account:£   
At 1 January 2021249,703
Repaid in the period(249,703)
At 31 December 2021-

11. RELATED PARTY TRANSACTIONS

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. CONTROLLING PARTY

On 1 March 2021 the Company was acquired by Wheelwright Group Limited. From that date the ultimate parent company was Wheelwright Group Limited, a company registered in England and Wales.

Wheelwright Group Limited prepares consolidated financial statements. Copies can be obtained from the registered office Steelfields, Gads Hill, Owens Way, Gillingham, Kent, ME7 2RT.