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REGISTERED NUMBER: 07146974 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SPECIALIST WHEEL SOLUTIONS LIMITED

SPECIALIST WHEEL SOLUTIONS LIMITED (REGISTERED NUMBER: 07146974)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SPECIALIST WHEEL SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr A P Goswell
Mrs A E Goswell



REGISTERED OFFICE: Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



REGISTERED NUMBER: 07146974 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: HSBC Bank Plc
7 Palace Avenue
Paignton
Devon
TQ3 3ED

SPECIALIST WHEEL SOLUTIONS LIMITED (REGISTERED NUMBER: 07146974)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54 283

CURRENT ASSETS
Debtors 5 6,363 7,487
Cash at bank 2,775 -
9,138 7,487
CREDITORS
Amounts falling due within one year 6 7,938 7,625
NET CURRENT ASSETS/(LIABILITIES) 1,200 (138 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,254 145

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,154 45
SHAREHOLDERS' FUNDS 1,254 145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2023 and were signed on its behalf by:





Mr A P Goswell - Director


SPECIALIST WHEEL SOLUTIONS LIMITED (REGISTERED NUMBER: 07146974)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Specialist Wheel Solutions 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 326 1,338 1,664
DEPRECIATION
At 1 March 2022 263 1,118 1,381
Charge for year 9 220 229
At 28 February 2023 272 1,338 1,610
NET BOOK VALUE
At 28 February 2023 54 - 54
At 28 February 2022 63 220 283

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,600 6,567
Directors' current accounts 2,763 920
6,363 7,487

SPECIALIST WHEEL SOLUTIONS LIMITED (REGISTERED NUMBER: 07146974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 1,667
Tax 6,178 4,049
Social security and other taxes - 252
Accrued expenses 1,760 1,657
7,938 7,625

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Mr A P Goswell and Mrs A E Goswell
Balance outstanding at start of year 920 4,143
Amounts advanced 51,803 40,694
Amounts repaid (49,959 ) (43,917 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,764 920

Loans are interest free, unsecured and repayable on demand.

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £25,000 (2022 - £17,400) were paid to the directors .