Registration number: 01240696

Roadwheel Tyre & Exhaust Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Roadwheel Tyre & Exhaust Limited

(Registration number: 01240696)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	30,992	40,584
Current assets
Stocks	5	111,642	109,643
Debtors	6	398,152	424,887
Cash at bank and in hand		29,859	7,590
		539,653	542,120
Creditors: Amounts falling due within one year	7	(372,318)	(409,086)
Net current assets		167,335	133,034
Total assets less current liabilities		198,327	173,618
Creditors: Amounts falling due after more than one year	7	(70,891)	(47,388)
Provisions for liabilities		(6,839)	(5,198)
Net assets		120,597	121,032
Capital and reserves
Called up share capital		1,650	1,650
Profit and loss account		118,947	119,382
Shareholders' funds		120,597	121,032

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 25 July 2025 and signed on its behalf by:
 

Roadwheel Tyre & Exhaust Limited

(Registration number: 01240696)
Statement of Financial Position as at 31 March 2025

......................................... Mr T J Elverson Director

Roadwheel Tyre & Exhaust Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.

Roadwheel Tyre & Exhaust Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% per annum on the reducing balance
Fittings fixtures and equipment	20% per annum on the reducing balance
Motor vehicles	25% per annum on the reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Roadwheel Tyre & Exhaust Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2024 - 14).

Roadwheel Tyre & Exhaust Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	7,285	142,011	108,015	257,311
At 31 March 2025	7,285	142,011	108,015	257,311
Depreciation
At 1 April 2024	6,308	131,903	78,516	216,727
Charge for the year	195	2,021	7,376	9,592
At 31 March 2025	6,503	133,924	85,892	226,319
Carrying amount
At 31 March 2025	782	8,087	22,123	30,992
At 31 March 2024	977	10,108	29,499	40,584

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	111,642	109,643

6

Debtors

	Note	2025 £	2024 £
Trade debtors		49,575	77,132
Amounts owed by related parties	9	333,504	343,553
Prepayments		15,073	4,202
		398,152	424,887

Roadwheel Tyre & Exhaust Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Bank loans and overdrafts	8	17,017	57,077
Trade creditors		309,700	284,953
Taxation and social security		19,611	21,259
Accruals and deferred income		14,610	13,039
Other creditors		11,380	32,758
		372,318	409,086

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Loans and borrowings	8	59,560	36,057
Other non-current financial liabilities		11,331	11,331
		70,891	47,388

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	41,312	11,667
Hire purchase contracts	18,248	24,390
	59,560	36,057

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,876	10,000
Bank overdrafts	-	38,954
Hire purchase contracts	6,141	8,123
	17,017	57,077

9	Related party transactions

At the balance sheet date the director was owed nil by the company (2024: £21,949), which is included in creditors: amounts falling due within one year.

At the balance sheet date the company was owed £333,504 by its parent company (2024: £343,553), which is included in debtors.

Roadwheel Tyre & Exhaust Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10	Parent and ultimate parent undertaking

The company's immediate parent is E3 UK Limited, incorporated in England and Wales.