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REGISTERED NUMBER: 04404630 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Wheels Of Old Limited

Wheels Of Old Limited (Registered number: 04404630)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wheels Of Old Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: W Galliers





REGISTERED OFFICE: Cottage Farm
Frodesley
Dorrington
Shrewsbury
Shropshire
SY5 7HD





REGISTERED NUMBER: 04404630 (England and Wales)





ACCOUNTANTS: Elliot Accountants Limited
3 Waterside Gardens
Shrewsbury
Shropshire
SY3 9AG

Wheels Of Old Limited (Registered number: 04404630)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,000 22,500
Tangible assets 5 288,526 277,849
303,526 300,349

CURRENT ASSETS
Stocks 341,288 414,283
Debtors 6 7,446 9,924
Cash at bank and in hand 368,438 319,617
717,172 743,824
CREDITORS
Amounts falling due within one year 7 35,189 28,916
NET CURRENT ASSETS 681,983 714,908
TOTAL ASSETS LESS CURRENT
LIABILITIES

985,509

1,015,257

CREDITORS
Amounts falling due after more than one year 8 18,450 28,238
NET ASSETS 967,059 987,019

CAPITAL AND RESERVES
Called up share capital 1,073,654 1,073,654
Share premium 72,548 72,548
Retained earnings (179,143 ) (159,183 )
SHAREHOLDERS' FUNDS 967,059 987,019

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Wheels Of Old Limited (Registered number: 04404630)

Balance Sheet - continued
31 December 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 director and authorised for issue on 6 August 2024 and were signed by:





W Galliers - Director


Wheels Of Old Limited (Registered number: 04404630)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Wheels Of Old 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on cost, 25% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 2 (2022 - 2 ) .

Wheels Of Old Limited (Registered number: 04404630)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 150,000
AMORTISATION
At 1 January 2023 127,500
Charge for year 7,500
At 31 December 2023 135,000
NET BOOK VALUE
At 31 December 2023 15,000
At 31 December 2022 22,500

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 253,280 98,689 351,969
Additions - 31,108 31,108
Disposals - (15,303 ) (15,303 )
At 31 December 2023 253,280 114,494 367,774
DEPRECIATION
At 1 January 2023 - 74,120 74,120
Charge for year - 20,262 20,262
Eliminated on disposal - (15,134 ) (15,134 )
At 31 December 2023 - 79,248 79,248
NET BOOK VALUE
At 31 December 2023 253,280 35,246 288,526
At 31 December 2022 253,280 24,569 277,849

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 3,567 6,860
Other debtors 3,879 3,064
7,446 9,924

Wheels Of Old Limited (Registered number: 04404630)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors (2,942 ) (1,721 )
Taxation and social security 343 1,187
Other creditors 27,140 18,802
35,189 28,916

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 18,450 28,238