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Registered number: 06970023
Wheelmania Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Hayward Wright
Wheelmania Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
Wheelmania Limited
Balance Sheet
As At 31 October 2024
Balance Sheet
Registered number: 06970023

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 1,500 |  | 1,500
Tangible Assets | 5 |  | 131,560 |  | 136,742
|  |  | 133,060 |  | 138,242
CURRENT ASSETS
Stocks | 6 | 147,116 |  | 147,116 |
Debtors | 7 | 74,973 |  | 75,618 |
Cash at bank and in hand |  | 64,240 |  | 52,642 |
|  | 286,329 |  | 275,376 |
Creditors: Amounts Falling Due Within One Year | 8 | (338,928 ) |  | (412,052 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (52,599 ) |  | (136,676 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 80,461 |  | 1,566
Creditors: Amounts Falling Due After More Than One Year | 9 |  | (104,504 ) |  | (156,954 )
NET LIABILITIES |  |  | (24,043 ) |  | (155,388 )
CAPITAL AND RESERVES
Called up share capital | 10 |  | 100 |  | 100
Profit and Loss Account |  |  | (24,143 ) |  | (155,488 )
SHAREHOLDERS' FUNDS |  |  | (24,043) |  | (155,388)

Page 1
Page 2
Wheelmania Limited
Balance Sheet (continued)
As At 31 October 2024
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr J R Lloyd Director
22 October 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Wheelmania Limited
Notes to the Financial Statements
For The Year Ended 31 October 2024
Notes to the Financial Statements
1. General Information
Wheelmania Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06970023 . The registered office is 4 Foxglove Drive, Redditch, Worcestershire, B97 5FJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | Straight line 10 years
Plant & Machinery | 10% on reducing balance
Motor Vehicles | 25% on reducing balance
Fixtures & Fittings | 25% Straight Line
Computer Equipment | 3 yrs Straight Line

2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
Page 3
Page 4
Wheelmania Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2024
4. Intangible Assets

| Other
--- | ---
| £
Cost
As at 1 November 2023 | 1,500
As at 31 October 2024 | 1,500
Net Book Value
As at 31 October 2024 | 1,500
As at 1 November 2023 | 1,500

5. Tangible Assets

| Land & Property
--- | ---
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings
| £ | £ | £ | £
Cost
As at 1 November 2023 | 17,870 | 163,410 | 6,000 | 16,035
Additions | 7,740 | 152 | 2,250 | 2,111
As at 31 October 2024 | 25,610 | 163,562 | 8,250 | 18,146
Depreciation
As at 1 November 2023 | 7,148 | 40,603 | 4,082 | 14,740
Provided during the period | 2,561 | 12,296 | 1,042 | 1,823
As at 31 October 2024 | 9,709 | 52,899 | 5,124 | 16,563
Net Book Value
As at 31 October 2024 | 15,901 | 110,663 | 3,126 | 1,583
As at 1 November 2023 | 10,722 | 122,807 | 1,918 | 1,295

| Computer Equipment | Total
--- | --- | ---
| £ | £
Cost
As at 1 November 2023 | - | 203,315
Additions | 430 | 12,683
As at 31 October 2024 | 430 | 215,998
Depreciation
As at 1 November 2023 | - | 66,573
Provided during the period | 143 | 17,865
As at 31 October 2024 | 143 | 84,438
Net Book Value
As at 31 October 2024 | 287 | 131,560
As at 1 November 2023 | - | 136,742

Page 4
Page 5
Wheelmania Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2024
6. Stocks

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Stock | 147,116 |  | 147,116

7. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 46,194 |  | 49,907
Other debtors | 28,779 |  | 25,711
| 74,973 |  | 75,618

8. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 224,879 |  | 296,615
Bank loans and overdrafts | 51,800 |  | 51,800
Other creditors | 41,584 |  | 39,134
Taxation and social security | 20,665 |  | 24,503
| 338,928 |  | 412,052

9. Creditors: Amounts Falling Due After More Than One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Bank loans | 104,504 |  | 156,954

10. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

Page 5