Not a Country fan?
Excellent and pants wettingly funny 90's duo The Cheap Sunglasses (George Welch and Phil Rantzen) on Tyneside used to do a memorable parody of Kenny Rogers "You Picked a Fine time to Leave Me Lucille" as "You Picked a Fine time to Leave Me Loose Wheel". When I saw the wheel under the water I couldn't resist it as a title. I kind of liked the idea of people looking for the wheel...and wondering if there was some story....
The place the image is of, Sinc Harriet, or by the climbers Dali's, is a quarried hole one level, or sixty odd feet deep. Somewhere there is a tunnel accessing the bottom, but it has fallen in and blocked.
The amount of drainage it can provide is a little les than rainfall, generally, which means the water level varies interestingly by quite large amounts.
Last week the shed was well underwater six or ten feet.
It's not uncommon for half full to be achieved, and the shed barely seen - the water is very clear.
A few times in relentless storms it has filled right to the top.
Also in drought it can be cracked mud with not a drop of water.
I'm pretty sure the wheel post dates the quarry, and was left by the Clash of the Titans filming that happened a few years back.
Here's another view
Sinc-Harriet