WheelPartsDirect Ltd Filleted Accounts Cover
Registered number
11965917
WheelPartsDirect Ltd
Filleted Accounts
30 September 2024
WheelPartsDirect Ltd Balance Sheet Registrar
at
30 September 2024
Company No.
11965917
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
7,5234,982
7,5234,982
Current assets
Stocks
5
231,924
212,919
Debtors
6
131,367
25,218
Cash at bank and in hand
23,541
8,183
386,832
246,320
Creditors: Amount falling due within one year
7
(200,984)
()
(147,819)
()
Net current assets
185,848
98,501
Total assets less current liabilities
193,371103,483
Creditors: Amounts falling due after more than one year
8
(1,856)
(4,882)
Net assets
191,51598,601
Capital and reserves
Called up share capital
44
Profit and loss account
9
191,51198,597
Total equity
191,51598,601
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 07 May 2025 and signed on its behalf by:
J. Dolden
Director
07 May 2025
WheelPartsDirect Ltd Notes to the Accounts Registrar
for the year ended 30 September 2024
1
General information
WheelPartsDirect Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 11965917
Its registered office is:
Bank Chambers
1-3 Woodford Avenue
Ilford
Essex
IG2 6UF
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
55
4
Tangible fixed assets
Plant and machinery
Total
£
£
Cost or revaluation
At 1 October 2023
10,60410,604
Additions
5,0505,050
At 30 September 2024
15,65415,654
Depreciation
At 1 October 2023
5,6225,622
Charge for the year
2,5092,509
At 30 September 2024
8,1318,131
Net book values
At 30 September 2024
7,5237,523
At 30 September 2023
4,982
4,982
5
Stocks
2024
2023
£
£
Stocks
231,924212,919
231,924212,919
6
Debtors
2024
2023
£
£
Trade debtors
12,79913,358
Other debtors
118,56811,860
131,36725,218
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,1443,120
Trade creditors
67,15931,140
Taxes and social security
64,269
55,536
Other creditors
66,41258,023
200,984147,819
8
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,8564,882
1,8564,882
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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