REGISTERED NUMBER: 07146974 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

SPECIALIST WHEEL SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A P Goswell

Mrs A E Goswell

REGISTERED OFFICE:

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

REGISTERED NUMBER:

07146974 (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:

HSBC Bank Plc

7 Palace Avenue

Paignton

Devon

TQ3 3ED

FIXED ASSETS

Tangible assets

4

39

46

CURRENT ASSETS

Debtors

5

12,469

8,339

Cash at bank

21,627

13,137

34,096

21,476

CREDITORS

Amounts falling due within one year

6

14,660

12,846

NET CURRENT ASSETS

19,436

8,630

TOTAL ASSETS LESS CURRENT LIABILITIES

19,475

8,676

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

19,375

8,576

SHAREHOLDERS' FUNDS

19,475

8,676

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 30 September 2025 and were signed on its behalf by:

Mr A P Goswell - Director

1.	STATUTORY INFORMATION

Specialist Wheel Solutions 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 29 February 2024

and 28 February 2025

326

1,338

1,664

DEPRECIATION

At 29 February 2024

280

1,338

1,618

Charge for year

7

-

7

At 28 February 2025

287

1,338

1,625

NET BOOK VALUE

At 28 February 2025

39

-

39

At 28 February 2024

46

-

46

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,800

5,016

Directors' current accounts

8,669

3,323

12,469

8,339

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

12,314

11,086

Accrued expenses

2,346

1,760

14,660

12,846

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2025 and 28 February 2024:

2025

2024

£

£

Mr A P Goswell and Mrs A E Goswell

Balance outstanding at start of year

3,323

2,764

Amounts advanced

66,765

61,631

Amounts repaid

(61,420

)

(61,072

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,668

3,323

Loans are interest free, unsecured and repayable on demand.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £37,500 (2024 - £37,500) were paid to the directors .