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REGISTERED NUMBER: 07777412 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ALLOY WHEEL REFURBISHMENT (UK) LTD

ALLOY WHEEL REFURBISHMENT (UK) LTD (REGISTERED NUMBER: 07777412)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALLOY WHEEL REFURBISHMENT (UK) LTD

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTOR: M S Bansal





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 07777412 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

ALLOY WHEEL REFURBISHMENT (UK) LTD (REGISTERED NUMBER: 07777412)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 561,215 606,228

CURRENT ASSETS
Debtors 5 1,065,920 1,166,452
Cash at bank and in hand 388,017 303,363
1,453,937 1,469,815
CREDITORS
Amounts falling due within one year 6 656,633 667,576
NET CURRENT ASSETS 797,304 802,239
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,358,519

1,408,467

CREDITORS
Amounts falling due after more than one
year

7

(218,243

)

(350,828

)

PROVISIONS FOR LIABILITIES (52,009 ) (61,746 )
NET ASSETS 1,088,267 995,893

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,087,267 994,893
SHAREHOLDERS' FUNDS 1,088,267 995,893

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

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

ALLOY WHEEL REFURBISHMENT (UK) LTD (REGISTERED NUMBER: 07777412)

BALANCE SHEET - continued
31 May 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 director and authorised for issue on 20 May 2025 and were signed by:





M S Bansal - Director


ALLOY WHEEL REFURBISHMENT (UK) LTD (REGISTERED NUMBER: 07777412)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Alloy Wheel Refurbishment (UK) Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

ALLOY WHEEL REFURBISHMENT (UK) LTD (REGISTERED NUMBER: 07777412)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 June 2023 312,259 44,500 374,636
Additions - - -
At 31 May 2024 312,259 44,500 374,636
DEPRECIATION
At 1 June 2023 - 17,801 202,858
Charge for year - 4,450 25,767
At 31 May 2024 - 22,251 228,625
NET BOOK VALUE
At 31 May 2024 312,259 22,249 146,011
At 31 May 2023 312,259 26,699 171,778

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 178,435 41,116 11,926 962,872
Additions 1,131 - - 1,131
At 31 May 2024 179,566 41,116 11,926 964,003
DEPRECIATION
At 1 June 2023 97,269 27,839 10,877 356,644
Charge for year 12,254 3,320 353 46,144
At 31 May 2024 109,523 31,159 11,230 402,788
NET BOOK VALUE
At 31 May 2024 70,043 9,957 696 561,215
At 31 May 2023 81,166 13,277 1,049 606,228

ALLOY WHEEL REFURBISHMENT (UK) LTD (REGISTERED NUMBER: 07777412)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023
and 31 May 2024 36,766
DEPRECIATION
At 1 June 2023 27,839
Charge for year 3,320
At 31 May 2024 31,159
NET BOOK VALUE
At 31 May 2024 5,607
At 31 May 2023 8,927

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,336 26,783
Other debtors 44,121 21,447
Sundry debtors 1,001,750 1,104,538
Tax 949 1,544
Prepayments 1,764 12,140
1,065,920 1,166,452

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 118,759 113,637
Hire purchase contracts 13,876 4,388
Trade creditors 49,170 19,764
Other creditors 329,363 283,598
Tax 86,718 84,400
Net wages 2,869 686
Pension Fund 247 299
VAT 19,589 18,209
Directors' current accounts 24,466 17,213
Accrued expenses 11,576 125,382
656,633 667,576

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 218,243 337,002
Hire purchase contracts - 13,826
218,243 350,828

ALLOY WHEEL REFURBISHMENT (UK) LTD (REGISTERED NUMBER: 07777412)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 337,002 450,639

The bank loan is secured by way of a fixed and floating charge on the assets of the company.