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REGISTERED NUMBER: 01904847 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Wheelers Luxury Gifts Limited

Wheelers Luxury Gifts Limited (Registered number: 01904847)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wheelers Luxury Gifts Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J B Wheeler
Mrs J R Wheeler





SECRETARY: Mrs J R Wheeler





REGISTERED OFFICE: 15 Devonshire Square
Loughborough
Leicestershire
LE11 3DW





REGISTERED NUMBER: 01904847 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Wheelers Luxury Gifts Limited (Registered number: 01904847)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 35,039 46,719
Tangible assets 5 26,014 34,086
61,053 80,805

CURRENT ASSETS
Stocks 706,409 795,829
Debtors 6 34,548 6,066
Cash at bank and in hand 21,776 42,430
762,733 844,325
CREDITORS
Amounts falling due within one year 7 256,178 289,350
NET CURRENT ASSETS 506,555 554,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

567,608

635,780

CREDITORS
Amounts falling due after more than one
year

8

57,553

-
NET ASSETS 510,055 635,780

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 508,055 633,780
SHAREHOLDERS' FUNDS 510,055 635,780

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

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

Wheelers Luxury Gifts Limited (Registered number: 01904847)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by:





J B Wheeler - Director


Wheelers Luxury Gifts Limited (Registered number: 01904847)

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

1. STATUTORY INFORMATION

Wheelers Luxury Gifts 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 represents net sales of goods, excluding value added tax and is recognised in the period in which the goods were sold.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated life and will be fully amortised in 4 years.

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 - 25% on reducing balance
Fixtures, fittings and equipment - 10% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stock is valued at lower of cost and net realisable value, after making due allowance for slow moving items. Cost is determined on a first in first out basis.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 200,000
AMORTISATION
At 1 April 2023 153,281
Charge for year 11,680
At 31 March 2024 164,961
NET BOOK VALUE
At 31 March 2024 35,039
At 31 March 2023 46,719

Wheelers Luxury Gifts Limited (Registered number: 01904847)

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

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 13,569 175,267 43,718 232,554
DEPRECIATION
At 1 April 2023 11,154 167,505 19,809 198,468
Charge for year 604 1,491 5,977 8,072
At 31 March 2024 11,758 168,996 25,786 206,540
NET BOOK VALUE
At 31 March 2024 1,811 6,271 17,932 26,014
At 31 March 2023 2,415 7,762 23,909 34,086

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,103 -
Other debtors 1,786 -
Tax 2,796 -
Prepayments 2,863 6,066
34,548 6,066

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 13,432
Other loans 57,553 -
Trade creditors 165,839 200,074
Tax - 24,120
Social security and other taxes 26,826 43,388
Other creditors 568 556
Directors' current accounts 600 3,145
Accrued expenses 4,792 4,635
256,178 289,350

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans - 1-2 years 57,553 -

Wheelers Luxury Gifts Limited (Registered number: 01904847)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 13,432

Bank loans are secured by way of fixed and floating charges over the property and assets of the company.