REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

SPINNING WHEEL CLASSIC CARS LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

A Walker

R Walker

REGISTERED OFFICE:

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

REGISTERED NUMBER:

05079776 (England and Wales)

ACCOUNTANTS:

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

The directors present their report with the financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of classic car and motorcycle trading.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2024 to the date of this report.

A Walker

R Walker

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

A Walker - Director

2 December 2025

FIXED ASSETS

Tangible assets

4

56,780

57,203

CURRENT ASSETS

Stocks

247,951

309,011

Debtors

5

39,522

8,797

Cash at bank

48,175

84,306

335,648

402,114

CREDITORS

Amounts falling due within one year

6

275,146

323,582

NET CURRENT ASSETS

60,502

78,532

TOTAL ASSETS LESS CURRENT LIABILITIES

117,282

135,735

CREDITORS

Amounts falling due after more than one year

7

(3,531

)

(13,942

)

PROVISIONS FOR LIABILITIES

(509

)

(615

)

NET ASSETS

113,242

121,178

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

113,142

121,078

SHAREHOLDERS' FUNDS

113,242

121,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2025 and were signed on its behalf by:

A Walker - Director

1.	STATUTORY INFORMATION

Spinning Wheel Classic Cars Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Land and

to

Plant and

buildings

property

machinery

£

£

£

COST

At 1 February 2024

and 31 January 2025

41,271

13,472

13,708

DEPRECIATION

At 1 February 2024

-

-

12,195

Charge for year

-

-

227

At 31 January 2025

-

-

12,422

NET BOOK VALUE

At 31 January 2025

41,271

13,472

1,286

At 31 January 2024

41,271

13,472

1,513

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 February 2024

and 31 January 2025

1,332

3,000

72,783

DEPRECIATION

At 1 February 2024

920

2,465

15,580

Charge for year

62

134

423

At 31 January 2025

982

2,599

16,003

NET BOOK VALUE

At 31 January 2025

350

401

56,780

At 31 January 2024

412

535

57,203

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

39,425

8,700

Other debtors

97

97

39,522

8,797

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

10,412

10,145

Trade creditors

97,350

242,872

Tax

6,616

3,584

VAT

7,450

4,418

Other creditors

1,702

1,192

Directors' current accounts

144,458

53,204

Accruals and deferred income

7,158

8,167

275,146

323,582

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans - 1-2 years

3,531

10,411

Bank loans - 2-5 years

-

3,531

3,531

13,942

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spinning Wheel Classic Cars Limited for the year ended 31 January 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Spinning Wheel Classic Cars Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Spinning Wheel Classic Cars Limited and state those matters that we have agreed to state to the Board of Directors of Spinning Wheel Classic Cars Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Spinning Wheel Classic Cars 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 Spinning Wheel Classic Cars Limited. You consider that Spinning Wheel Classic Cars 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 Spinning Wheel Classic Cars 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.

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

2 December 2025