Wheelmania Limited

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

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)

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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.

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)

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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

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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

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