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REGISTERED NUMBER: 04740026 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

STEVE WALLACE TRANSPORT LIMITED

STEVE WALLACE TRANSPORT LIMITED (REGISTERED NUMBER: 04740026)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


STEVE WALLACE TRANSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: S T Wallace
P S Wallace





SECRETARY: P S Wallace





REGISTERED OFFICE: Portway
Ross Road
Longhope
Gloucestershire
GL17 0LP





REGISTERED NUMBER: 04740026 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
4th Floor
St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR

STEVE WALLACE TRANSPORT LIMITED (REGISTERED NUMBER: 04740026)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 15,707
- 15,707

CURRENT ASSETS
Debtors 6 44,583 93,312
Cash at bank 33,642 7,349
78,225 100,661
CREDITORS
Amounts falling due within one year 7 35,592 58,146
NET CURRENT ASSETS 42,633 42,515
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,633

58,222

CREDITORS
Amounts falling due after more than one
year

8

54,780

54,410
NET (LIABILITIES)/ASSETS (12,147 ) 3,812

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (12,149 ) 3,810
SHAREHOLDERS' FUNDS (12,147 ) 3,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 31 January 2024 and were signed on its behalf by:




S T Wallace - Director


STEVE WALLACE TRANSPORT LIMITED (REGISTERED NUMBER: 04740026)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Steve Wallace Transport 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.

The directors consider that in preparing the financial statements they have taken into account all information available, and on this basis the financial statements are prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost
Office equipment - 25% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 NIL (2022 - 4 ).

STEVE WALLACE TRANSPORT LIMITED (REGISTERED NUMBER: 04740026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022 25,000
Disposals (25,000 )
At 31 August 2023 -
AMORTISATION
At 1 September 2022 25,000
Eliminated on disposal (25,000 )
At 31 August 2023 -
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

5. TANGIBLE FIXED ASSETS
Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 14,918 3,776 18,694
Disposals (14,918 ) (3,776 ) (18,694 )
At 31 August 2023 - - -
DEPRECIATION
At 1 September 2022 - 2,987 2,987
Eliminated on disposal - (2,987 ) (2,987 )
At 31 August 2023 - - -
NET BOOK VALUE
At 31 August 2023 - - -
At 31 August 2022 14,918 789 15,707

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 44,583 93,312

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,515 22,515
Taxation and social security 9,485 32,791
Other creditors 3,592 2,840
35,592 58,146

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 54,780 54,410

STEVE WALLACE TRANSPORT LIMITED (REGISTERED NUMBER: 04740026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


9. RELATED PARTY DISCLOSURES

At the year end the Directors owed the company £4,649 (2022: £53,370). Interest has been charged on this balance in accordance with applicable HMRC rates.