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REGISTERED NUMBER: 05323073 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2024

for

A J Wheeler Limited

A J Wheeler Limited (Registered number: 05323073)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A J Wheeler Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: P J Hewett FCCA
Mrs K L Hewett





REGISTERED OFFICE: 338 London Road
Portsmouth
PO2 9JY





REGISTERED NUMBER: 05323073 (England and Wales)





ACCOUNTANTS: AJ Wheeler Limited
338 London Road
Portsmouth
Hampshire
PO2 9JY

A J Wheeler Limited (Registered number: 05323073)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 613,950 383,950
Tangible assets 5 216,441 162,689
830,391 546,639

CURRENT ASSETS
Stocks 86,297 75,193
Debtors 6 108,564 176,742
Cash at bank 37 814
194,898 252,749
CREDITORS
Amounts falling due within one year 7 249,261 111,584
NET CURRENT (LIABILITIES)/ASSETS (54,363 ) 141,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

776,028

687,804

CREDITORS
Amounts falling due after more than one year 8 57,539 76,014
NET ASSETS 718,489 611,790

CAPITAL AND RESERVES
Called up share capital 300,999 300,999
Retained earnings 417,490 310,791
SHAREHOLDERS' FUNDS 718,489 611,790

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

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

A J Wheeler Limited (Registered number: 05323073)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 January 2025 and were signed on its behalf by:





Mrs K L Hewett - Director


A J Wheeler Limited (Registered number: 05323073)

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

1. STATUTORY INFORMATION

A J Wheeler 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 is capitalised in the year of purchase. A review of the client base and retained gross recurring fees are reviewed at each accounting period end and a diminution in value considered. Any amortisation is written off as part of the annual review.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year 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.

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.

A J Wheeler Limited (Registered number: 05323073)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024 538,349
Additions 230,000
At 31 December 2024 768,349
AMORTISATION
At 1 January 2024
and 31 December 2024 154,399
NET BOOK VALUE
At 31 December 2024 613,950
At 31 December 2023 383,950

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 27,162 26,115 181,079 13,950 248,306
Additions - - 61,290 12,848 74,138
At 31 December 2024 27,162 26,115 242,369 26,798 322,444
DEPRECIATION
At 1 January 2024 8,117 26,115 37,435 13,950 85,617
Charge for year 2,716 - 14,458 3,212 20,386
At 31 December 2024 10,833 26,115 51,893 17,162 106,003
NET BOOK VALUE
At 31 December 2024 16,329 - 190,476 9,636 216,441
At 31 December 2023 19,045 - 143,644 - 162,689

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 108,564 94,838
Other debtors - 81,904
108,564 176,742

A J Wheeler Limited (Registered number: 05323073)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 87,356 111,584
Trade creditors 2 -
Taxation and social security 34,622 -
Other creditors 127,281 -
249,261 111,584

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 57,539 76,014

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £76,000 (2023 - £76,000) were paid to the directors .

The company trades from a property in which both Mr P J Hewett and Mrs K L Hewett have control and are beneficiaries. The rent for the year charged to the profit and loss account was £18,500.

The company made a contribution of £16,000 into the directors self administered pension fund during the year.

Mr P J Hewett loaned the company £104,281 during the year. No interest was charged.

10. ULTIMATE CONTROLLING PARTY

The controlling party is P J Hewett FCCA.