Specialist Wheel Solutions Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07146974 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

FOR

SPECIALIST WHEEL SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A P Goswell

Mrs A E Goswell

REGISTERED OFFICE:

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

REGISTERED NUMBER:

07146974 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

BANKERS:

HSBC Bank Plc

7 Palace Avenue

Paignton

Devon

TQ3 3ED

FIXED ASSETS

Tangible assets

4

33

39

CURRENT ASSETS

Debtors

5

13,243

12,469

Cash at bank

32,411

21,627

45,654

34,096

CREDITORS

Amounts falling due within one year

6

15,372

14,660

NET CURRENT ASSETS

30,282

19,436

TOTAL ASSETS LESS CURRENT LIABILITIES

30,315

19,475

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

30,215

19,375

SHAREHOLDERS' FUNDS

30,315

19,475

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2026 and were signed on its behalf by:

Mr A P Goswell - Director

1.	STATUTORY INFORMATION

Specialist Wheel Solutions 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 March 2025

and 28 February 2026

326

1,338

1,664

DEPRECIATION

At 1 March 2025

287

1,338

1,625

Charge for year

6

-

6

At 28 February 2026

293

1,338

1,631

NET BOOK VALUE

At 28 February 2026

33

-

33

At 28 February 2025

39

-

39

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

3,800

Directors' current accounts

9,443

8,669

13,243

12,469

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Tax

12,305

12,314

Accrued expenses

3,067

2,346

15,372

14,660

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2026 and 28 February 2025:

2026

2025

£

Mr A P Goswell and Mrs A E Goswell

Balance outstanding at start of year

8,668

3,323

Amounts advanced

60,975

66,765

Amounts repaid

(60,200

)

(61,420

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

9,443

8,668

Loans are interest free, unsecured and repayable on demand.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £37,500 (2025 - £37,500) were paid to the directors .