1 October 2024 false No description of principal activity Taxfiler 2024.6 03740783business:PrivateLimitedCompanyLtd2024-10-012025-09-29 037407832024-09-30 037407832024-10-012025-09-29 03740783business:AuditExempt-NoAccountantsReport2024-10-012025-09-29 03740783business:FilletedAccounts2024-10-012025-09-29 037407832025-09-29 03740783business:Director12024-10-012025-09-29 03740783business:Director22024-10-012025-09-29 03740783business:RegisteredOffice2024-10-012025-09-29 037407832024-09-30 03740783core:WithinOneYear2025-09-29 03740783core:WithinOneYear2024-09-30 03740783core:AfterOneYear2025-09-29 03740783core:AfterOneYear2024-09-30 03740783core:ShareCapitalcore:PreviouslyStatedAmount2025-09-29 03740783core:ShareCapitalcore:PreviouslyStatedAmount2024-09-30 03740783core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2025-09-29 03740783core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-09-30 03740783core:PreviouslyStatedAmount2025-09-29 03740783core:PreviouslyStatedAmount2024-09-30 03740783business:SmallEntities2024-10-012025-09-29 03740783countries:EnglandWales2024-10-012025-09-29 03740783core:PlantMachinery2024-10-012025-09-29 03740783core:MotorVehicles2024-10-012025-09-29 03740783core:FurnitureFittings2024-10-012025-09-29 03740783core:Goodwill2024-09-30 03740783core:Goodwill2025-09-29 03740783core:Goodwill2024-10-012025-09-29 03740783core:PlantMachinery2024-09-30 03740783core:MotorVehicles2024-09-30 03740783core:FurnitureFittings2024-09-30 03740783core:PlantMachinery2025-09-29 03740783core:MotorVehicles2025-09-29 03740783core:FurnitureFittings2025-09-29 037407832023-10-012024-09-30 iso4217:GBP xbrli:pure
Company Registration No. 03740783 (England and Wales)
Wheel Art Limited Unaudited accounts for the period from 1 October 2024 to 29 September 2025
Wheel Art Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Wheel Art Limited Company Information for the period from 1 October 2024 to 29 September 2025
Directors
Mrs L Gate Mr M Gate
Company Number
03740783 (England and Wales)
Registered Office
Unit 5 Whickham Bank Swalwell Newcastle Upon Tyne NE16 3BP United Kingdom
Accountants
Accountants For The Trade Limited 3B Linden Park Number One Industrial Estate Consett DH8 6SZ
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Wheel Art Limited Statement of financial position as at 29 September 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
26,174 
29,082 
Tangible assets
5
151,000 
177,525 
177,174 
206,607 
Current assets
Inventories
14,750 
15,280 
Debtors
6
58,260 
79,817 
Cash at bank and in hand
(21,782)
36,226 
51,228 
131,323 
Creditors: amounts falling due within one year
7
(254,901)
(229,520)
Net current liabilities
(203,673)
(98,197)
Total assets less current liabilities
(26,499)
108,410 
Creditors: amounts falling due after more than one year
8
(146,473)
(189,346)
Net liabilities
(172,972)
(80,936)
Capital and reserves
Called up share capital
102 
100 
Profit and loss account
(173,074)
(81,036)
Shareholders' funds
(172,972)
(80,936)
For the period ending 29 September 2025 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2026 and were signed on its behalf by
Mrs L Gate Director Company Registration No. 03740783
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Wheel Art Limited Notes to the Accounts for the period from 1 October 2024 to 29 September 2025
1
Statutory information
Wheel Art Limited is a private company, limited by shares, registered in England and Wales, registration number 03740783. The registered office is Unit 5 Whickham Bank, Swalwell, Newcastle Upon Tyne, NE16 3BP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 October 2024
29,082 
At 29 September 2025
29,082 
Amortisation
At 1 October 2024
- 
Charge for the period
2,908 
At 29 September 2025
2,908 
Net book value
At 29 September 2025
26,174 
At 30 September 2024
29,082 
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Wheel Art Limited Notes to the Accounts for the period from 1 October 2024 to 29 September 2025
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2024
60,409 
126,723 
7,934 
195,066 
Additions
35,929 
- 
- 
35,929 
Disposals
- 
(31,113)
- 
(31,113)
At 29 September 2025
96,338 
95,610 
7,934 
199,882 
Depreciation
At 1 October 2024
12,500 
3,677 
1,364 
17,541 
Charge for the period
13,809 
18,847 
985 
33,641 
On disposals
- 
(2,300)
- 
(2,300)
At 29 September 2025
26,309 
20,224 
2,349 
48,882 
Net book value
At 29 September 2025
70,029 
75,386 
5,585 
151,000 
At 30 September 2024
47,909 
123,046 
6,570 
177,525 
6
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,322 
24,794 
Accrued income and prepayments
- 
8,674 
Other debtors
47,938 
46,349 
58,260 
79,817 
7
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Bank loans and overdrafts
6,240 
16,083 
VAT
24,095 
43,716 
Obligations under finance leases and hire purchase contracts
39,225 
68,062 
Trade creditors
24,038 
20,174 
Taxes and social security
26,290 
32,431 
Loans from directors
131,023 
44,054 
Accruals
3,990 
5,000 
254,901 
229,520 
8
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
19,686 
25,962 
Obligations under finance leases and hire purchase contracts
126,787 
163,384 
146,473 
189,346 
9
Average number of employees
During the period the average number of employees was 9 (2024: 11).
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