REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
FOR |
WHEELWRIGHT (HOLDINGS) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
FOR |
WHEELWRIGHT (HOLDINGS) LIMITED |
WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
WHEELWRIGHT (HOLDINGS) LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
The Lightbox |
87 Castle Street |
Reading |
Berkshire |
RG1 7SN |
WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548) |
BALANCE SHEET |
30 JUNE 2023 |
2023 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Wheelwright (Holdings) Limited is a |
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 |
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. 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. |
Taxation |
Taxation for the period 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 PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
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 period 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 period was NIL (2021 - NIL). |
WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2022 |
and 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 31 December 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2021 |
value: | £ | £ |
Ordinary | £1 | 2,000 | 2,000 |
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. |
for and on behalf of |
WHEELWRIGHT (HOLDINGS) LIMITED (REGISTERED NUMBER: 07392548) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
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. | 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. |
11. | CONTROLLING PARTY |
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. |