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Registration number: 12103441

Alloy Wheel Refurbishment Hull Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Alloy Wheel Refurbishment Hull Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Alloy Wheel Refurbishment Hull Ltd

Company Information

Director

Mr Richard David Howlett

Registered office

Unit 9a
Lee Smith Street
Hull
East Yorkshire
HU9 1SD

Bankers

Cash Plus

Accountants

Flexibility Professional Services (UK) Ltd Cherry Tree Court
36 Ferensway
Hull
East Yorkshire
HU2 8NH

 

Alloy Wheel Refurbishment Hull Ltd

(Registration number: 12103441)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

134

157

Current assets

 

Debtors

5

2,190

148

Cash at bank and in hand

 

2,469

644

 

4,659

792

Creditors: Amounts falling due within one year

6

(4,682)

(3,907)

Net current liabilities

 

(23)

(3,115)

Net assets/(liabilities)

 

111

(2,958)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

110

(2,959)

Shareholders' funds/(deficit)

 

111

(2,958)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 June 2025
 

.........................................
Mr Richard David Howlett
Director

 

Alloy Wheel Refurbishment Hull Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 9a
Lee Smith Street
Hull
East Yorkshire
HU9 1SD
United Kingdom

These financial statements were authorised for issue by the director on 24 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Alloy Wheel Refurbishment Hull Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Reducing balance @ 15%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Alloy Wheel Refurbishment Hull Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Alloy Wheel Refurbishment Hull Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

168

168

At 31 March 2025

168

168

Depreciation

At 1 April 2024

11

11

Charge for the year

23

23

At 31 March 2025

34

34

Carrying amount

At 31 March 2025

134

134

At 31 March 2024

157

157

5

Debtors

Current

2025
£

2024
£

Prepayments

2,190

148

 

2,190

148

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

1,380

1,380

Trade creditors

 

2,000

968

Taxation and social security

 

707

945

Accruals and deferred income

 

595

500

Other creditors

 

-

114

 

4,682

3,907

 

Alloy Wheel Refurbishment Hull Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary £1 of £1 each

1

1

1

1

       

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

1,380

1,380

9

Related party transactions

Summary of transactions with other related parties

R H Autos Ltd Services provided to related party company.

Income and receivables from related parties

2025

Other related parties
£

Sale of property or other assets

14,650

2024

Other related parties
£

Sale of property or other assets

19,267

Loans from related parties

2025

Key management
£

Total
£

At start of period

1,380

1,380

At end of period

1,380

1,380

 

Alloy Wheel Refurbishment Hull Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2024

Key management
£

Total
£

At start of period

1,380

1,380

At end of period

1,380

1,380

 

Alloy Wheel Refurbishment Hull Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Terms of loans from related parties

Loan capital provided on unsecured basis with no repayment terms.