ESSEX WHEELS & ENGINEERING LIMITED 31/03/2025 iXBRL

Company registration number: 06674334

ESSEX WHEELS & ENGINEERING LIMITED

Trading as Essex Wheels & Engineering Limited

Unaudited filleted financial statements

31 March 2025

ESSEX WHEELS & ENGINEERING LIMITED

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

ESSEX WHEELS & ENGINEERING LIMITED

Directors and other information


	Director	J.R. Rogers


	Company number	06674334


	Registered office	94 Bodmin Road
		Springfield
		Chelmsford
		CM1 6LL


	Accountants	Peaty & Co
		163-164 Moulsham Street
		Chelmsford
		CM2 0LD

ESSEX WHEELS & ENGINEERING LIMITED

Chartered accountants report to the director on the preparation of the

unaudited statutory financial statements of Essex Wheels & Engineering Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Essex Wheels & Engineering Limited for the year ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the director of Essex Wheels & Engineering Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Essex Wheels & Engineering Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Essex Wheels & Engineering Limited and its director as a body for our work or for this report.

It is your duty to ensure that Essex Wheels & Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Essex Wheels & Engineering Limited. You consider that Essex Wheels & Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Essex Wheels & Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Peaty & Co

Chartered Accountants

163-164 Moulsham Street

Chelmsford

CM2 0LD

3 September 2025

ESSEX WHEELS & ENGINEERING LIMITED

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	8	110,488		137,110
		_______		_______
			110,488		137,110

Current assets
Stocks		17,000		12,000
Debtors	9	57,206		59,697
Cash at bank and in hand		36,000		50,616
		_______		_______
		110,206		122,313
Creditors: amounts falling due
within one year	10	( 75,395)		( 82,097)
		_______		_______
Net current assets			34,811		40,216
			_______		_______
Total assets less current liabilities			145,299		177,326

Creditors: amounts falling due
after more than one year	11		( 26,876)		( 57,465)

Provisions for liabilities	12		( 24,197)		( 26,051)

			_______		_______
Net assets			94,226		93,810
			_______		_______

Capital and reserves
Called up share capital	14		2		2
Profit and loss account			94,224		93,808
			_______		_______
Shareholders funds			94,226		93,810
			_______		_______

For the 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 financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 03 September 2025 , and are signed on behalf of the board by:

J.R. Rogers

Director

Company registration number: 06674334

ESSEX WHEELS & ENGINEERING LIMITED

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 94 Bodmin Road, Springfield, Chelmsford, CM1 6LL.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. They have been prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Directors remuneration

The director's aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	12,480	12,480
	_______	_______

6. Tax on profit

Major components of tax income/expense

	2025	2024
	£	£
Current tax:
UK current tax expense	17,937	7,774
Adjustments in respect of previous periods	( 21,355)	-
	_______	_______
Total current tax	( 3,418)	7,774

Deferred tax:
Origination and reversal of timing differences	( 1,854)	7,084
	_______	_______
Tax on profit	( 5,272)	14,858
	_______	_______

7. Dividends

Equity dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	55,790	38,870
	_______	_______

8. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	200,005	8,420	61,374	269,799
Additions	-	999	-	999
	_______	_______	_______	_______
At 31 March 2025	200,005	9,419	61,374	270,798
	_______	_______	_______	_______
Depreciation
At 1 April 2024	102,121	4,639	25,929	132,689
Charge for the year	19,577	955	7,089	27,621
	_______	_______	_______	_______
At 31 March 2025	121,698	5,594	33,018	160,310
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	78,307	3,825	28,356	110,488
	_______	_______	_______	_______
At 31 March 2024	97,884	3,781	35,445	137,110
	_______	_______	_______	_______

9. Debtors

	2025	2024
	£	£
Trade debtors	55,650	52,405
Other debtors	1,556	7,292
	_______	_______
	57,206	59,697
	_______	_______

10. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	5,118	13,180
Trade creditors	13,554	28,616
Corporation tax	10,299	7,774
Social security and other taxes	13,150	1,466
Other creditors	33,274	31,061
	_______	_______
	75,395	82,097
	_______	_______

Included in other creditors are net obligations under finance leases and hire purchase contracts of £27, 277 (2024 £29,703) which are secured on the assets concerned.

11. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	-	3,311
Other creditors	26,876	54,154
	_______	_______
	26,876	57,465
	_______	_______

Included in other creditors are net obligations under finance leases and hire purchase contracts of £26, 876 (2024 £54,154) which are secured on the assets concerned.

12. Provisions

	Deferred tax (note 13)	Total
	£	£
At 1 April 2024	26,051	26,051
Transfers	( 1,854)	( 1,854)
	_______	_______
At 31 March 2025	24,197	24,197
	_______	_______

13. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 12)	24,197	26,051
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	24,197	26,051
	_______	_______

14. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary A shares shares of £ 1.00 each	1	1	1	1
Ordinary B shares shares of £ 1.00 each	1	1	1	1
	_______	_______	_______	_______
	2	2	2	2
	_______	_______	_______	_______