REGISTERED NUMBER: 09033613 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RS WHEELS REFURBISHMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Leigh

R Leigh

REGISTERED OFFICE:

39-39A Nutwood Trading Estate

Limestone Cottage Lane

Sheffield

S6 1NJ

REGISTERED NUMBER:

09033613 (England and Wales)

ACCOUNTANTS:

Drury & Co

Accountants & Business Advisors

21 Hollowgate

Rotherham

South Yorkshire

S60 2LE

FIXED ASSETS

Tangible assets

4

1,617,360

1,443,288

CURRENT ASSETS

Stocks

5

17,209

16,549

Debtors

6

549,887

695,544

Cash at bank and in hand

182,287

45,845

749,383

757,938

CREDITORS

Amounts falling due within one year

7

584,500

654,870

NET CURRENT ASSETS

164,883

103,068

TOTAL ASSETS LESS CURRENT LIABILITIES

1,782,243

1,546,356

CREDITORS

Amounts falling due after more than one year

8

472,769

298,916

NET ASSETS

1,309,474

1,247,440

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,309,472

1,247,438

SHAREHOLDERS' FUNDS

1,309,474

1,247,440

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

R Leigh - Director

1.	STATUTORY INFORMATION

RS Wheels Refurbishment 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.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% 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 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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

529,560

473,999

104,438

1,353,316

2,461,313

Additions

-

46,380

13,838

464,890

525,108

Disposals

-

-

-

(9,500

)

(9,500

)

At 31 December 2024

529,560

520,379

118,276

1,808,706

2,976,921

DEPRECIATION

At 1 January 2024

24,085

203,515

35,232

755,193

1,018,025

Charge for year

8,754

47,529

23,656

263,972

343,911

Eliminated on disposal

-

-

-

(2,375

)

(2,375

)

At 31 December 2024

32,839

251,044

58,888

1,016,790

1,359,561

NET BOOK VALUE

At 31 December 2024

496,721

269,335

59,388

791,916

1,617,360

At 31 December 2023

505,475

270,484

69,206

598,123

1,443,288

5.

STOCKS

2024

2023

£

£

Raw materials

17,209

16,549

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

531,059

591,624

Amounts owed by participating interests

-

41,911

Other debtors

18,828

62,009

549,887

695,544

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

25,282

25,263

Finance leases

145,104

143,540

Trade creditors

220,084

309,782

Amounts owed to participating interests

-

14,690

Taxation and social security

160,214

140,564

Other creditors

33,816

21,031

584,500

654,870

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

155,498

180,799

Finance leases

317,271

118,117

472,769

298,916