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Registered number: 08764236
Wheel Pro Ltd
Financial Statements
For The Year Ended 31 March 2024
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08764236
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,324 7,957
22,324 7,957
CURRENT ASSETS
Debtors 5 95,064 90,388
Cash at bank and in hand 161,828 159,147
256,892 249,535
Creditors: Amounts Falling Due Within One Year 6 (18,498 ) (26,752 )
NET CURRENT ASSETS (LIABILITIES) 238,394 222,783
TOTAL ASSETS LESS CURRENT LIABILITIES 260,718 230,740
NET ASSETS 260,718 230,740
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 260,618 230,640
SHAREHOLDERS' FUNDS 260,718 230,740
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr T P Birney
Director
3rd October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wheel Pro Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08764236 . The registered office is 55 Hoghton Street, Southport, Merseyside, PR9 0PG. The company's functional and presentational currency is GBP and no level of rounding has been used in the preparation of the financial statements.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
2.4. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 14,108 20,880 34,988
Additions 17,580 - 17,580
As at 31 March 2024 31,688 20,880 52,568
Depreciation
As at 1 April 2023 10,487 16,544 27,031
Provided during the period 2,529 684 3,213
As at 31 March 2024 13,016 17,228 30,244
Net Book Value
As at 31 March 2024 18,672 3,652 22,324
As at 1 April 2023 3,621 4,336 7,957
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 29,929 23,868
Other debtors 65,135 66,520
95,064 90,388
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 933 2,047
Other creditors 3,495 3,495
Taxation and social security 14,070 21,210
18,498 26,752
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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