Wheels Logistics Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 01892572 (England and Wales)
Wheels Logistics Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Wheels Logistics Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8
8
Current assets
Debtors
4
21,428
28,323
Investments
5
1,471,461
1,572,206
Cash at bank and in hand
39,189
69,068
1,532,078
1,669,597
Creditors: amounts falling due within one year
6
(15,973)
(12,264)
Net current assets
1,516,105
1,657,333
Total assets less current liabilities
1,516,113
1,657,341
Provisions for liabilities
7
(2,118)
(4,235)
Net assets
1,513,995
1,653,106
Capital and reserves
Called up share capital
8
25,000
25,000
Profit and loss reserves
1,488,995
1,628,106
Total equity
1,513,995
1,653,106

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Wheels Logistics Limited
Balance Sheet (Continued)
As at 31 December 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 13 August 2025
J Westermann
Director
Company Registration No. 01892572
Wheels Logistics Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 3
1
Accounting policies
Company information

Wheels Logistics Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements have been prepared under the historical cost convention, modified to include investments at fair value. The principal accounting policies adopted are set out below.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest pound.

1.2
Turnover
Turnover represents amounts receivable from freight-forwarding sales, net of VAT.
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
1 to 6 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

Basic financial instruments are measured at amorti s ed cost. The company has no other financial instruments or basic financial instruments measured at fair value other than the listed investment.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Wheels Logistics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 4
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).

Wheels Logistics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
7,308
Depreciation and impairment
At 1 January 2024 and 31 December 2024
7,300
Carrying amount
At 31 December 2024
8
At 31 December 2023
8
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,219
1,973
Other debtors
20,209
26,350
21,428
28,323
5
Current asset investments
2024
2023
£
£
Investments
1,471,461
1,572,206

The investments are all listed investments. The historic cost at 31 December 2024 was £1,485,932 (2023 - £1,610,544).

6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
762
810
Corporation tax
12,320
8,724
Other creditors
36
-
Accruals and deferred income
2,855
2,730
15,973
12,264
Wheels Logistics Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 6
7
Deferred taxation
2024
2023
£
£
Deferred tax liabilities
2,118
4,235
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
25,000
25,000
25,000
25,000
9
Parent company

The company is a wholly owned subsidiary of Intervest Beteiligungs- und Verwaltungsgesellschaft mbH, a company registered in Germany. The financial statements of the group can be obtained from them at Görlitzer Straße 64, D-10997 Berlin, Germany.

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