Wheels Of Chalton Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04974676 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Wheels Of Chalton Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Beverley

P G Watts

SECRETARY:

D Beverley

REGISTERED OFFICE:

113b London Road

Horndean

Waterlooville

Hampshire

PO8 0BJ

REGISTERED NUMBER:

04974676 (England and Wales)

ACCOUNTANTS:

Hughes Spencer

12 Acorn Business Park

Northarbour Road

Portsmouth

Hampshire

PO6 3TH

FIXED ASSETS

Tangible assets

4

13,098

10,116

CURRENT ASSETS

Stocks

3,000

2,850

Debtors

5

11,486

21,133

Cash at bank and in hand

19,889

38,409

34,375

62,392

CREDITORS

Amounts falling due within one year

6

24,433

37,377

NET CURRENT ASSETS

9,942

25,015

TOTAL ASSETS LESS CURRENT LIABILITIES

23,040

35,131

PROVISIONS FOR LIABILITIES

2,252

1,595

NET ASSETS

20,788

33,536

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

20,784

33,532

SHAREHOLDERS' FUNDS

20,788

33,536

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 18 September 2023 and were signed on its behalf by:

D Beverley - Director

P G Watts - Director

1.	STATUTORY INFORMATION

Wheels Of Chalton 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 equipment

-

25% on reducing balance and 15% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

equipment

£

COST

At 1 January 2022

29,415

Additions

5,961

Disposals

(500

)

At 31 December 2022

34,876

DEPRECIATION

At 1 January 2022

19,299

Charge for year

2,604

Eliminated on disposal

(125

)

At 31 December 2022

21,778

NET BOOK VALUE

At 31 December 2022

13,098

At 31 December 2021

10,116

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

4,065

13,058

Other debtors

7,421

8,075

11,486

21,133

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

10,935

16,906

Other creditors

13,498

20,471

24,433

37,377