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Wheelshare (London) Ltd

Registered Number
14227325
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Wheelshare (London) Ltd
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Kasirer, Israel
Michael, David
Slater, Meir

Registered Address

3rd Floor Waverley House
7-12 Noel Street
London
W1F 8GQ

Registered Number

14227325 (England and Wales)
Wheelshare (London) Ltd
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,111-
2,111-
Current assets
Debtors447,22538,190
Cash at bank and on hand50,32729,726
97,55267,916
Creditors amounts falling due within one year5(58,135)(49,957)
Net current assets (liabilities)39,41717,959
Total assets less current liabilities41,52817,959
Creditors amounts falling due after one year6(27,653)(6,404)
Provisions for liabilities(255)-
Net assets13,62011,555
Capital and reserves
Called up share capital10,00010,000
Profit and loss account3,6201,555
Shareholders' funds13,62011,555
The financial statements were approved and authorised for issue by the Board of Directors on 20 March 2025, and are signed on its behalf by:
Slater, Meir
Director
Registered Company No. 14227325
Wheelshare (London) Ltd
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). In accordance with FRS 102, the Company has taken advantage of the exemptions from the following disclosure requirements: • Section 4 "Statement of Financial Position" - Reconciliation of the opening and closing number of shares; • Section 7 "Statement of Cash Flow" - Presentation of a statement of cash flow and related notes and disclosures; • Section 11 "Basic Financial Instruments" - Carrying amounts, interest income/expenses and net gains/losses for each category of financial instrument: basis of determining fair values; details of collateral, loan defaults or breaches; • Section 11 Financial Instruments paragraphs 11.41 (b), 11.41 (c), 11.41 (e), 11.41 (f), 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); • Section 12 Other Financial Instruments paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A; and • Section 33 "Related Party Disclosures" - Compensation for key management personnel. • Section 33.1A "Related Party Disclosure" - Between members of the group.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The directors do not believe that any critical judgement has been made in the process of applying the company's accounting policies that would have a material effect in the statutory financial statements.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment5
2.Average number of employees

20242023
Average number of employees during the year31
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
Additions1,7634592,222
At 31 December 241,7634592,222
Depreciation and impairment
Charge for year8823111
At 31 December 248823111
Net book value
At 31 December 241,6754362,111
At 31 December 23---
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables42,24035,076
Other debtors3,6841,058
Prepayments and accrued income1,3012,056
Total47,22538,190
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables58114,421
Taxation and social security2,9794,610
Other creditors-5,489
Accrued liabilities and deferred income54,57525,437
Total58,13549,957
6.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties27,6536,404
Total27,6536,404
7.Controlling party
Wheelshare (London) Ltd's parent undertaking is Wheelshare Ltd, a company incorporated in Israel with registered office address 21 Melacha St., Rosh HaAyin 4809157, Israel. Wheelshare (London) Ltd’s ultimate controlling party is Mr Barak Dotan.
8.Further information regarding the company's financial position
During the financial year, Wheelshare (London) Ltd acted as an agent in collecting donations on behalf of a charity under a contractual agreement. According to the agreement, the donations received are on behalf of the charity, and Wheelshare (London) Ltd acts solely as an agent, collecting and passing along the donations in line with the principle of substance over form. Wheelshare (London) Ltd has an obligation to transfer the donations to the charity, which is disclosed as a liability. The donations received from customers are recognized as a liability towards the charity in the balance sheet. Bank fees incurred in the process are accounted for under a bank fees control account in the balance sheet. Payments made to the charity are accounted against the liability and the bank fees control account. There is no impact on VAT or Corporation Tax for these transactions.
9.Change in reporting period and impact on comparability
The comparative figures presented in these financial statements cover a period of 18 months from the date of incorporation, whereas the current period covers a standard 12-month period. This difference in reporting periods should be taken into account when comparing the financial performance and position of the company.