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REGISTERED NUMBER: 11913936 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Wheel A&E Limited

Wheel A&E Limited (Registered number: 11913936)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wheel A&E Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Steven John Barrett
Clare Ann Nicholson
Daniel James Blackburn





REGISTERED OFFICE: Unit E2 Voyager Park
Portfield Road
Portsmouth
Hampshire
PO3 5FL





REGISTERED NUMBER: 11913936 (England and Wales)





ACCOUNTANTS: Tracey Shaw Limited
1 Teal Close
Horndean
Waterlooville
Hampshire
PO8 9YF

Wheel A&E Limited (Registered number: 11913936)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,558 66,346

CURRENT ASSETS
Stocks 7,675 5,325
Debtors 5 51,175 40,747
Cash at bank and in hand 25,445 24,471
84,295 70,543
CREDITORS
Amounts falling due within one year 6 574,252 519,752
NET CURRENT LIABILITIES (489,957 ) (449,209 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(440,399

)

(382,863

)

CREDITORS
Amounts falling due after more than one
year

7

8,333

18,333
NET LIABILITIES (448,732 ) (401,196 )

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings (449,232 ) (401,696 )
SHAREHOLDERS' FUNDS (448,732 ) (401,196 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

Wheel A&E Limited (Registered number: 11913936)

Balance Sheet - continued
31 July 2024


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 19 August 2024 and were signed on its behalf by:





Steven John Barrett - Director


Wheel A&E Limited (Registered number: 11913936)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Wheel A&E 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 (£).


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.
Plant and machinery etc - 33% on cost and 25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Wheel A&E Limited (Registered number: 11913936)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023
and 31 July 2024 190,567
DEPRECIATION
At 1 August 2023 124,221
Charge for year 16,788
At 31 July 2024 141,009
NET BOOK VALUE
At 31 July 2024 49,558
At 31 July 2023 66,346

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 51,156 36,929
Amounts owed by group undertakings - 401
Other debtors 19 3,417
51,175 40,747

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 18,652 20,125
Amounts owed to group undertakings 21,090 6,416
Taxation and social security 52,941 28,554
Other creditors 471,569 454,657
574,252 519,752

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,333 18,333