WILSON'S WHEELS LTD - Filleted accounts

Registered number

07324786

WILSON'S WHEELS LTD

Filleted Accounts

31 July 2025

AMENDED

WILSON'S WHEELS LTD
Registered number:		07324786
Balance Sheet
as at 31 July 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		60,848			60,848

Current assets
Stocks		35,000			35,000
Cash at bank and in hand		17,662			15,890
		52,662			50,890

Creditors: amounts falling due within one year	5	(4,773)			(4,937)

Net current assets			47,889			45,953

Total assets less current liabilities			108,737			106,801

Creditors: amounts falling due after more than one year	6		(106,201)			(106,437)



Net assets			2,536			364

Capital and reserves
Called up share capital			2			2
Profit and loss account			2,534			362

Shareholders' funds			2,536			364

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Nathan Wilson
Director
Approved by the board on 28 August 2025

WILSON'S WHEELS LTD
Notes to the Accounts
for the year ended 31 July 2025


1	Accounting policies

	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).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation.

	Plant and machinery	25% reducing balance
	Fixtures, fittings, tools and equipment	25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			2		2


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 August 2024					300
	At 31 July 2025					300

	Amortisation
	At 1 August 2024					300
	At 31 July 2025					300

	Net book value
	At 31 July 2025					-




4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 August 2024	60,848		1,343		62,191
	At 31 July 2025	60,848		1,343		62,191

	Depreciation
	At 1 August 2024	-		1,343		1,343
	At 31 July 2025	-		1,343		1,343

	Net book value
	At 31 July 2025	60,848		-		60,848
	At 31 July 2024	60,848		-		60,848


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Trade creditors			1,011		1,007
	Taxation and social security costs			3,762		3,930
				4,773		4,937


6	Creditors: amounts falling due after one year			2025		2024
£					£

	Other creditors			106,201		106,437


7	Other information

	WILSON'S WHEELS LTD is a private company limited by shares and incorporated in England. Its registered office is: