Western Castors and Wheels Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01464666 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WESTERN CASTORS AND WHEELS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Merriam

Mr K B Moore

REGISTERED OFFICE:

C/O Western Industrial

Linhay Business Park

Eastern Road

Ashburton

Devon

TQ13 7UP

REGISTERED NUMBER:

01464666 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

BANKERS:

Lloyds Bank Plc

41 Courtenay Street

Newton Abbot

Devon

TQ12 2EA

FIXED ASSETS

Tangible assets

4

141,950

120,089

CURRENT ASSETS

Stocks

5

10,000

Debtors

6

1,145,373

981,679

Cash at bank and in hand

412,372

968,154

1,567,745

1,959,833

CREDITORS

Amounts falling due within one year

7

575,272

936,133

NET CURRENT ASSETS

992,473

1,023,700

TOTAL ASSETS LESS CURRENT LIABILITIES

1,134,423

1,143,789

PROVISIONS FOR LIABILITIES

23,331

17,090

NET ASSETS

1,111,092

1,126,699

CAPITAL AND RESERVES

Called up share capital

3,000

Retained earnings

1,108,092

1,123,699

SHAREHOLDERS' FUNDS

1,111,092

1,126,699

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2025 and were signed on its behalf by:

Mr K B Moore - Director

Mr P Merriam - Director

1.	STATUTORY INFORMATION

Western Castors and Wheels 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 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.

Long leasehold

-

10% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

COST

At 1 January 2024

45,076

25,189

28,242

105,493

204,000

Additions

24,298

7,324

4,068

26,895

62,585

At 31 December 2024

69,374

32,513

32,310

132,388

266,585

DEPRECIATION

At 1 January 2024

23,736

6,462

15,337

38,376

83,911

Charge for year

6,937

3,907

6,377

23,503

40,724

At 31 December 2024

30,673

10,369

21,714

61,879

124,635

NET BOOK VALUE

At 31 December 2024

38,701

22,144

10,596

70,509

141,950

At 31 December 2023

21,340

18,727

12,905

67,117

120,089

5.

STOCKS

2024

2023

£

Stocks

10,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

532,732

655,766

Other debtors

305,173

305,874

Directors' current accounts

299,920

16,792

Prepayments

7,548

3,247

1,145,373

981,679

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

417,618

393,433

Tax

8,245

119,046

Social security and other taxes

13,069

16,157

VAT

126,904

221,702

Other creditors

6,961

108,999

Directors' current accounts

-

74,456

Accrued expenses

2,475

2,340

575,272

936,133

8.	OTHER FINANCIAL COMMITMENTS

At 31/12/2024, the company had total commitments under non-cancellable operating leases over the remaining life of the those leases of £59,673 (31/12/2023 £71,560).

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

Mr K B Moore

Balance outstanding at start of year

16,792

28,786

Amounts advanced

426,906

136,983

Amounts repaid

(147,127

)

(148,977

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

296,571

16,792

Mr P Merriam

Balance outstanding at start of year

(74,456

)

(60,731

)

Amounts advanced

159,967

87,424

Amounts repaid

(82,162

)

(101,149

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

3,349

(74,456

)

Loan is interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £154,500 (2023 - £149,000) were paid to the directors .

There is an intercompany loan with Linhay Investments Limited, at the year end the amount owed to the Company was £296,253 (2023: £295,954).