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REGISTERED NUMBER: 05866939 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

WHEELHOUSE UK LTD

WHEELHOUSE UK LTD (REGISTERED NUMBER: 05866939)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WHEELHOUSE UK LTD

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: N Dharumaretnam
J F Cumming





SECRETARY: J F Cumming





REGISTERED OFFICE: Ferrari House
258 Field End Road
Ruislip
Middlesex
HA4 9UU





REGISTERED NUMBER: 05866939 (England and Wales)





ACCOUNTANTS: Diverset Limited
Chartered Accountants
Ferrari House
258 Field End Road
Ruislip
Middlesex
HA4 9UU

WHEELHOUSE UK LTD (REGISTERED NUMBER: 05866939)

Balance Sheet
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 366 488

CURRENT ASSETS
Debtors 5 159,096 77,465
Cash at bank and in hand 707,916 679,862
867,012 757,327
CREDITORS
Amounts falling due within one year 6 47,689 47,256
NET CURRENT ASSETS 819,323 710,071
TOTAL ASSETS LESS CURRENT LIABILITIES 819,689 710,559

PROVISIONS FOR LIABILITIES 70 93
NET ASSETS 819,619 710,466

CAPITAL AND RESERVES
Called up share capital 7 190 200
Capital redemption reserve 8 10 (5,000 )
Retained earnings 8 819,419 715,266
SHAREHOLDERS' FUNDS 819,619 710,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

WHEELHOUSE UK LTD (REGISTERED NUMBER: 05866939)

Balance Sheet - continued
31 MARCH 2023


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 by the Board of Directors and authorised for issue on 3 July 2023 and were signed on its behalf by:




N Dharumaretnam - Director



J F Cumming - Director


WHEELHOUSE UK LTD (REGISTERED NUMBER: 05866939)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Wheelhouse UK 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 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.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

WHEELHOUSE UK LTD (REGISTERED NUMBER: 05866939)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 6,500
DEPRECIATION
At 1 April 2022 6,012
Charge for year 122
At 31 March 2023 6,134
NET BOOK VALUE
At 31 March 2023 366
At 31 March 2022 488

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 82,000 -
Other debtors 77,096 77,465
159,096 77,465

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7,393 184
Taxation and social security 37,806 45,097
Other creditors 2,490 1,975
47,689 47,256

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
190 Ordinary £1 190 200
(2022 - 100 )

WHEELHOUSE UK LTD (REGISTERED NUMBER: 05866939)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2022 715,266 (5,000 ) 710,266
Profit for the year 159,153 - 159,153
Dividends (50,000 ) - (50,000 )
Transfer between reserves (5,000 ) 5,010 10
At 31 March 2023 819,419 10 819,429

9. RELATED PARTY DISCLOSURES

The company made a loan of £72,968 to Invest in Growth Ltd on 31 August 2018, a company controlled by N Dharumaretnam. The loan is interest free, and repayable on demand.

Consultancy services fees of £27,000 (2022 : £27000) was paid to Neela Bettridge Ltd, a company controlled by N Dharumaretnam and £55,367 (2022: £80,835) to Article 13 Ltd, a company under common control.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by its Director/shareholders. There is no single controlling party.