31 January 2024 false No description of principal activity Taxfiler 2024.6 04099175business:PrivateLimitedCompanyLtd2024-01-312025-01-30 040991752024-01-30 040991752024-01-312025-01-30 04099175business:AuditExempt-NoAccountantsReport2024-01-312025-01-30 04099175business:FilletedAccounts2024-01-312025-01-30 040991752025-01-30 04099175business:Director12024-01-312025-01-30 04099175business:CompanySecretary12024-01-312025-01-30 04099175business:RegisteredOffice2024-01-312025-01-30 040991752024-01-30 04099175core:WithinOneYear2025-01-30 04099175core:WithinOneYear2024-01-30 04099175core:AfterOneYear2025-01-30 04099175core:AfterOneYear2024-01-30 04099175core:ShareCapitalcore:PreviouslyStatedAmount2025-01-30 04099175core:ShareCapitalcore:PreviouslyStatedAmount2024-01-30 04099175core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2025-01-30 04099175core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-01-30 04099175core:PreviouslyStatedAmount2025-01-30 04099175core:PreviouslyStatedAmount2024-01-30 04099175business:SmallEntities2024-01-312025-01-30 04099175countries:EnglandWales2024-01-312025-01-30 04099175core:LandBuildings2024-01-312025-01-30 04099175core:PlantMachinery2024-01-312025-01-30 04099175core:MotorVehicles2024-01-312025-01-30 04099175core:FurnitureFittings2024-01-312025-01-30 04099175core:LandBuildings2024-01-30 04099175core:PlantMachinery2024-01-30 04099175core:MotorVehicles2024-01-30 04099175core:FurnitureFittings2024-01-30 04099175core:LandBuildings2025-01-30 04099175core:PlantMachinery2025-01-30 04099175core:MotorVehicles2025-01-30 04099175core:FurnitureFittings2025-01-30 04099175business:OrdinaryShareClass12024-01-312025-01-30 04099175business:OrdinaryShareClass12023-01-312024-01-30 04099175business:Director112024-01-312025-01-30 04099175business:Director112024-01-30 04099175business:Director112025-01-30 040991752023-01-312024-01-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 04099175 (England and Wales)
Wheels VT Limited Unaudited accounts for the year ended 30 January 2025
Wheels VT Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Wheels VT Limited Company Information for the year ended 30 January 2025
Director
Reece Elliott McNally
Secretary
Marion A Mcnally
Company Number
04099175 (England and Wales)
Registered Office
Southside Farm London Road Wooburn Green High Wycombe Buckinghamshire HP10 0NN England
Accountants
James Norman Business Advisory Limited 7 High Street Windsor SL4 1LD
- 3 -
Wheels VT Limited Statement of financial position as at 30 January 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
3
14,546 
17,107 
Current assets
Inventories
7,200 
9,731 
Debtors
4
143,274 
151,672 
Cash at bank and in hand
37 
37 
150,511 
161,440 
Creditors: amounts falling due within one year
5
(144,728)
(159,982)
Net current assets
5,783 
1,458 
Total assets less current liabilities
20,329 
18,565 
Creditors: amounts falling due after more than one year
6
(3,946)
(13,199)
Provisions for liabilities
Deferred tax
(3,342)
(4,276)
Net assets
13,041 
1,090 
Capital and reserves
Called up share capital
7
1,000 
1,000 
Profit and loss account
12,041 
90 
Shareholders' funds
13,041 
1,090 
For the year ending 30 January 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 director acknowledges his 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 and authorised for issue on 28 November 2025 and were signed on its behalf by
Reece Elliott McNally Director Company Registration No. 04099175
- 4 -
Wheels VT Limited Notes to the Accounts for the year ended 30 January 2025
1
Statutory information
Wheels VT Limited is a private company, limited by shares, registered in England and Wales, registration number 04099175. The registered office is Southside Farm, London Road, Wooburn Green, High Wycombe, Buckinghamshire, HP10 0NN, England.
2
Accounting policies
Basis of preparation
These financial statements have been prepared in compliance with FRS 102, ’The Financial Reporting Standard applicable to 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.
Presentation currency
The accounts are presented in £ sterling.
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 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:
Land & buildings
Period of lease
Plant & machinery
12.50% straight line
Motor vehicles
25.00% straight line
Fixtures & fittings
33.33% straight line
Inventories
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 taxation
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.
- 5 -
Wheels VT Limited Notes to the Accounts for the year ended 30 January 2025
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
3
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 31 January 2024
12,674 
125,722 
2,450 
27,000 
167,846 
Additions
- 
- 
1,250 
2,959 
4,209 
At 30 January 2025
12,674 
125,722 
3,700 
29,959 
172,055 
Depreciation
At 31 January 2024
12,674 
109,253 
1,938 
26,874 
150,739 
Charge for the year
- 
5,818 
656 
296 
6,770 
At 30 January 2025
12,674 
115,071 
2,594 
27,170 
157,509 
Net book value
At 30 January 2025
- 
10,651 
1,106 
2,789 
14,546 
At 30 January 2024
- 
16,469 
512 
126 
17,107 
4
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
58,473 
56,355 
Amounts due from group undertakings etc.
73,800 
- 
Other debtors
11,001 
95,317 
143,274 
151,672 
5
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Bank loans and overdrafts
55,914 
36,403 
VAT
31,467 
44,875 
Trade creditors
13,957 
48,621 
Taxes and social security
35,702 
26,587 
Other creditors
7,688 
496 
Accruals
- 
3,000 
144,728 
159,982 
- 6 -
Wheels VT Limited Notes to the Accounts for the year ended 30 January 2025
6
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
3,946 
13,199 
7
Share capital
2025 
2024 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Reece Elliott McNally
Loans to Director
33,075 
158,903 
180,977 
11,001 
33,075 
158,903 
180,977 
11,001 
The loan is fully repayable on demand. Interest has been charged at 2.25%.
9
Transactions with related parties
Included in other debtors is £73,800 (2024 - £62,242) owed from Moravia Wines Limited. Mr R McNally is a director and shareholder of this company.
10
Average number of employees
During the year the average number of employees was 8 (2024: 8).
- 7 -